BidaskClub Downgrades Jack in the Box (NASDAQ:JACK) to Buy

BidaskClub cut shares of Jack in the Box (NASDAQ:JACK) from a strong-buy rating to a buy rating in a research note published on Tuesday morning, BidAskClub reports.

A number of other brokerages have also commented on JACK. ValuEngine raised Jack in the Box from a sell rating to a hold rating in a research note on Thursday, August 8th. Goldman Sachs Group started coverage on Jack in the Box in a research note on Monday, July 29th. They set a sell rating and a $69.00 price target for the company. Telsey Advisory Group increased their price target on Jack in the Box from $95.00 to $105.00 and gave the company an outperform rating in a research note on Thursday, August 22nd. Robert W. Baird increased their price target on Jack in the Box from $95.00 to $104.00 and gave the company an outperform rating in a research note on Friday, August 9th. Finally, Morgan Stanley set a $89.00 price target on Jack in the Box and gave the company a hold rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $92.92.

NASDAQ JACK opened at $91.25 on Tuesday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.45 and a beta of 0.28. The business has a 50-day moving average price of $88.75 and a 200-day moving average price of $82.55. Jack in the Box has a twelve month low of $70.77 and a twelve month high of $93.12.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The firm had revenue of $222.36 million during the quarter, compared to analyst estimates of $220.44 million. Jack in the Box had a negative return on equity of 18.59% and a net margin of 9.78%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. On average, sell-side analysts forecast that Jack in the Box will post 4.36 earnings per share for the current fiscal year.

In other Jack in the Box news, CEO Leonard A. Comma sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $92.00, for a total transaction of $276,000.00. Following the sale, the chief executive officer now directly owns 180,552 shares in the company, valued at $16,610,784. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Leonard A. Comma sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $86.10, for a total value of $1,291,500.00. Following the sale, the chief executive officer now owns 204,552 shares in the company, valued at $17,611,927.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,080 shares of company stock valued at $3,614,820. 2.30% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Chicago Equity Partners LLC raised its position in Jack in the Box by 90.4% during the second quarter. Chicago Equity Partners LLC now owns 64,735 shares of the restaurant operator’s stock valued at $5,269,000 after purchasing an additional 30,735 shares during the period. Natixis purchased a new stake in Jack in the Box during the second quarter valued at approximately $378,000. Campbell & CO Investment Adviser LLC purchased a new stake in Jack in the Box during the second quarter valued at approximately $324,000. Pacer Advisors Inc. purchased a new stake in Jack in the Box during the second quarter valued at approximately $836,000. Finally, Bessemer Group Inc. purchased a new stake in Jack in the Box during the second quarter valued at approximately $2,556,000.

Jack in the Box Company Profile

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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