Jack In The Box Inc. (JACK) Upgraded to Hold at BidaskClub
BidaskClub upgraded shares of Jack In The Box Inc. (NASDAQ:JACK) from a sell rating to a hold rating in a research note published on Tuesday morning.
JACK has been the topic of several other reports. Telsey Advisory Group cut Jack In The Box from an outperform rating to a market perform rating and reduced their target price for the company from $125.00 to $118.00 in a report on Thursday, May 18th. Cowen and Company reiterated a hold rating and issued a $100.00 target price on shares of Jack In The Box in a report on Friday, May 12th. Zacks Investment Research upgraded Jack In The Box from a hold rating to a buy rating and set a $114.00 target price on the stock in a report on Wednesday, April 26th. Bank of America Corporation reiterated a buy rating and issued a $118.00 target price (down from $120.00) on shares of Jack In The Box in a report on Tuesday, June 13th. Finally, Morgan Stanley reiterated an overweight rating and issued a $126.00 target price on shares of Jack In The Box in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $114.85.
Shares of Jack In The Box (NASDAQ JACK) traded up 1.51% during midday trading on Tuesday, reaching $97.05. 1,041,042 shares of the company’s stock were exchanged. Jack In The Box has a 12 month low of $91.02 and a 12 month high of $113.30. The stock has a market cap of $2.86 billion, a PE ratio of 22.39 and a beta of 0.57. The company’s 50 day moving average is $95.67 and its 200-day moving average is $101.16.
Jack In The Box (NASDAQ:JACK) last announced its earnings results on Wednesday, August 9th. The restaurant operator reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.06. Jack In The Box had a net margin of 8.51% and a negative return on equity of 37.83%. The company had revenue of $357.80 million during the quarter, compared to the consensus estimate of $360.84 million. During the same quarter in the previous year, the company earned $1.07 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. Equities analysts forecast that Jack In The Box will post $4.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, August 18th. Jack In The Box’s dividend payout ratio (DPR) is presently 36.70%.
In other news, EVP Phillip H. Rudolph sold 6,908 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $103.64, for a total transaction of $715,945.12. Following the transaction, the executive vice president now directly owns 99,261 shares of the company’s stock, valued at $10,287,410.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. OxFORD Asset Management LLP purchased a new position in shares of Jack In The Box during the second quarter worth $267,000. Dimensional Fund Advisors LP raised its position in shares of Jack In The Box by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 746,173 shares of the restaurant operator’s stock worth $73,497,000 after buying an additional 8,434 shares during the last quarter. Virtu KCG Holdings LLC raised its position in shares of Jack In The Box by 36.7% in the second quarter. Virtu KCG Holdings LLC now owns 8,110 shares of the restaurant operator’s stock worth $799,000 after buying an additional 2,178 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Jack In The Box during the second quarter worth $670,000. Finally, California Public Employees Retirement System raised its position in shares of Jack In The Box by 3.4% in the second quarter. California Public Employees Retirement System now owns 88,000 shares of the restaurant operator’s stock worth $8,668,000 after buying an additional 2,900 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors.
Jack In The Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Eats (Qdoba) fast-casual restaurants. The Company operates in two segments: Jack in the Box and Qdoba restaurant operations. Qdoba is a fast-casual Mexican food brand in the United States, offering food items including burritos, tacos, salads, and quesadillas.
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