Jack in the Box (NASDAQ:JACK) Price Target Lowered to $50.00 at TD Cowen

Jack in the Box (NASDAQ:JACK) had its price target cut by TD Cowen from $57.00 to $50.00 in a report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the restaurant operator’s stock.

Several other brokerages have also recently commented on JACK. UBS Group reduced their price objective on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, October 4th. Morgan Stanley dropped their price target on Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Wedbush lowered their target price on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Bank of America cut their price target on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Finally, StockNews.com lowered shares of Jack in the Box from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Jack in the Box has a consensus rating of “Hold” and a consensus price target of $65.56.

Jack in the Box Price Performance

NASDAQ:JACK opened at $46.71 on Wednesday. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20. The stock’s fifty day moving average price is $47.39 and its two-hundred day moving average price is $52.43. The company has a market cap of $905.71 million, a P/E ratio of 8.22, a P/E/G ratio of 0.63 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The business had revenue of $369.17 million for the quarter, compared to analysts’ expectations of $371.81 million. During the same quarter in the prior year, the firm posted $1.45 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. On average, analysts expect that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Jack in the Box Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.77%. Jack in the Box’s dividend payout ratio (DPR) is currently 30.99%.

Insider Activity

In related news, CFO Brian M. Scott sold 696 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the sale, the chief financial officer now directly owns 13,201 shares in the company, valued at $642,360.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jack in the Box

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its position in shares of Jack in the Box by 73.2% in the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 366 shares during the period. Headlands Technologies LLC bought a new stake in shares of Jack in the Box in the first quarter worth about $97,000. PNC Financial Services Group Inc. increased its holdings in Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after purchasing an additional 179 shares during the period. SG Americas Securities LLC bought a new position in Jack in the Box during the 3rd quarter valued at approximately $185,000. Finally, Selway Asset Management purchased a new stake in Jack in the Box in the 3rd quarter worth approximately $228,000. 99.79% 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 and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.