Jack in the Box (NASDAQ:JACK) Given a $89.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $89.00 target price on Jack in the Box (NASDAQ:JACK) in a report released on Friday, TipRanks reports. The brokerage currently has a hold rating on the restaurant operator’s stock.

Several other equities analysts have also recently issued reports on JACK. Goldman Sachs Group started coverage on Jack in the Box in a report on Monday, July 29th. They set a sell rating and a $69.00 price objective for the company. BidaskClub raised Jack in the Box from a sell rating to a hold rating in a report on Saturday. Wedbush raised Jack in the Box from a neutral rating to an outperform rating and lifted their price objective for the stock from $75.00 to $105.00 in a report on Friday. Credit Suisse Group lifted their price objective on Jack in the Box from $75.00 to $78.00 and gave the stock an underperform rating in a report on Friday. Finally, Stifel Nicolaus raised Jack in the Box from a hold rating to a buy rating and lifted their price objective for the stock from $85.00 to $95.00 in a report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Jack in the Box has an average rating of Hold and an average target price of $91.50.

JACK stock traded down $0.06 during midday trading on Friday, hitting $87.56. 624,114 shares of the stock were exchanged, compared to its average volume of 566,727. The stock’s 50-day moving average is $78.34. The stock has a market capitalization of $2.24 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.59 and a beta of 0.30. Jack in the Box has a fifty-two week low of $70.77 and a fifty-two week high of $91.72.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. The firm had revenue of $222.36 million during the quarter, compared to analysts’ expectations of $220.44 million. Jack in the Box had a negative return on equity of 18.59% and a net margin of 9.78%. Jack in the Box’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, equities research analysts anticipate that Jack in the Box will post 4.26 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.83%. Jack in the Box’s dividend payout ratio (DPR) is 42.22%.

In other news, CEO Leonard A. Comma sold 15,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $86.10, for a total value of $1,291,500.00. Following the completion of the transaction, the chief executive officer now directly owns 204,552 shares of the company’s stock, valued at $17,611,927.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Phillip H. Rudolph sold 6,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $86.16, for a total value of $516,960.00. Following the completion of the transaction, the executive vice president now directly owns 26,097 shares of the company’s stock, valued at $2,248,517.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,807 shares of company stock valued at $2,375,463. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP purchased a new stake in Jack in the Box during the 4th quarter valued at approximately $396,000. Norges Bank purchased a new stake in Jack in the Box during the 4th quarter valued at approximately $23,325,000. Geode Capital Management LLC grew its holdings in Jack in the Box by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 325,737 shares of the restaurant operator’s stock valued at $25,286,000 after buying an additional 10,072 shares in the last quarter. 6 Meridian purchased a new stake in Jack in the Box during the 1st quarter valued at approximately $489,000. Finally, Retirement Systems of Alabama grew its holdings in Jack in the Box by 0.6% during the 1st quarter. Retirement Systems of Alabama now owns 33,596 shares of the restaurant operator’s stock valued at $2,723,000 after buying an additional 201 shares in the last quarter. 95.52% of the stock is owned by institutional investors.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

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