Jack in the Box (NASDAQ:JACK) Downgraded by Wedbush to “Neutral”

Wedbush lowered shares of Jack in the Box (NASDAQ:JACK) from an outperform rating to a neutral rating in a research note released on Friday morning, Marketbeat Ratings reports. Wedbush currently has $40.00 price objective on the restaurant operator’s stock, down from their prior price objective of $50.00.

Several other equities analysts also recently weighed in on JACK. Barclays lifted their target price on Jack in the Box from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Guggenheim dropped their price objective on shares of Jack in the Box from $95.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. StockNews.com lowered shares of Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Truist Financial dropped their price target on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, TD Cowen reiterated a “hold” rating and issued a $50.00 price objective on shares of Jack in the Box in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.88.

Jack in the Box Trading Down 2.1 %

Shares of NASDAQ JACK opened at $38.46 on Friday. The stock has a market capitalization of $725.20 million, a PE ratio of -19.72, a PEG ratio of 1.29 and a beta of 1.94. Jack in the Box has a twelve month low of $36.36 and a twelve month high of $76.56. The stock has a fifty day simple moving average of $39.90 and a 200-day simple moving average of $44.96.

Insider Buying and Selling

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $40.52, for a total transaction of $68,397.76. Following the sale, the senior vice president now owns 16,815 shares of the company’s stock, valued at approximately $681,343.80. This trade represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 2,190 shares of company stock worth $92,961 over the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of JACK. Invenomic Capital Management LP purchased a new stake in Jack in the Box in the third quarter valued at $11,802,000. Raymond James Financial Inc. acquired a new stake in shares of Jack in the Box during the fourth quarter worth about $7,655,000. IPG Investment Advisors LLC lifted its holdings in shares of Jack in the Box by 59.2% in the 4th quarter. IPG Investment Advisors LLC now owns 440,619 shares of the restaurant operator’s stock valued at $18,347,000 after purchasing an additional 163,834 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Jack in the Box by 178.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 196,740 shares of the restaurant operator’s stock valued at $8,192,000 after purchasing an additional 126,101 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of Jack in the Box in the 4th quarter valued at about $4,249,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

About Jack in the Box

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.