Guggenheim Cuts Jack in the Box (NASDAQ:JACK) Price Target to $60.00

Jack in the Box (NASDAQ:JACK) had its price target lowered by analysts at Guggenheim from $95.00 to $60.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Guggenheim’s price objective indicates a potential upside of 25.64% from the stock’s previous close.

Several other brokerages have also commented on JACK. Wedbush cut their price objective on Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Monday. Loop Capital decreased their target price on Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays decreased their target price on Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. The Goldman Sachs Group decreased their price objective on Jack in the Box from $55.00 to $47.00 and set a “sell” rating on the stock in a research report on Monday, October 21st. Finally, UBS Group reduced their price target on Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Jack in the Box has an average rating of “Hold” and a consensus price target of $62.00.

Jack in the Box Stock Up 4.7 %

JACK stock opened at $47.76 on Wednesday. The firm has a market cap of $913.55 million, a PE ratio of -24.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. The business has a 50 day moving average of $46.28 and a 200 day moving average of $50.27. Jack in the Box has a twelve month low of $40.84 and a twelve month high of $86.20.

Insiders Place Their Bets

In other news, CFO Brian M. Scott sold 696 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total transaction of $33,867.36. Following the transaction, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. This represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Jack in the Box

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new position in shares of Jack in the Box in the third quarter worth about $41,000. EntryPoint Capital LLC raised its position in Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 366 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Jack in the Box by 172.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock valued at $100,000 after acquiring an additional 1,354 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Jack in the Box during the third quarter worth about $185,000. Finally, MML Investors Services LLC grew its stake in Jack in the Box by 20.3% during the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock worth $226,000 after buying an additional 819 shares in the last quarter. 99.79% of the stock is owned by institutional investors.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.