Jack in the Box (NASDAQ:JACK) Price Target Cut to $98.00 by Analysts at Morgan Stanley

Jack in the Box (NASDAQ:JACK) had its price objective trimmed by Morgan Stanley from $105.00 to $98.00 in a research report sent to investors on Friday morning, PriceTargets.com reports. The brokerage currently has an equal weight rating on the restaurant operator’s stock.

JACK has been the subject of a number of other research reports. Barclays reduced their target price on Jack in the Box from $105.00 to $90.00 and set an equal weight rating for the company in a report on Wednesday, December 15th. Robert W. Baird lowered their price target on Jack in the Box from $100.00 to $85.00 and set a neutral rating for the company in a report on Tuesday, December 7th. Oppenheimer decreased their target price on Jack in the Box from $130.00 to $125.00 and set an outperform rating for the company in a report on Wednesday, November 24th. Northcoast Research lowered Jack in the Box from a buy rating to a neutral rating and set a $110.71 price target on the stock. in a research report on Wednesday, December 15th. Finally, Truist cut their target price on Jack in the Box from $142.00 to $130.00 and set a buy rating on the stock in a research report on Wednesday, November 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $113.14.

Jack in the Box stock opened at $88.03 on Friday. Jack in the Box has a 52-week low of $77.13 and a 52-week high of $124.53. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.78 and a beta of 1.77. The company has a fifty day simple moving average of $88.81 and a 200-day simple moving average of $98.22.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings data on Monday, November 22nd. The restaurant operator reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.01. The firm had revenue of $278.50 million during the quarter, compared to analyst estimates of $288.76 million. Jack in the Box had a net margin of 14.49% and a negative return on equity of 20.58%. Jack in the Box’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. As a group, equities analysts expect that Jack in the Box will post 6.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Thursday, December 9th were issued a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, December 8th. This represents a $1.76 annualized dividend and a yield of 2.00%. Jack in the Box’s dividend payout ratio (DPR) is 23.85%.

In related news, CEO Darin S. Harris sold 1,840 shares of the business’s stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $84.97, for a total value of $156,344.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 2,020 shares of company stock worth $171,350. 1.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in Jack in the Box by 32.9% during the second quarter. Franklin Resources Inc. now owns 1,328,858 shares of the restaurant operator’s stock worth $148,088,000 after acquiring an additional 329,110 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Jack in the Box by 30.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 50,359 shares of the restaurant operator’s stock worth $5,612,000 after purchasing an additional 11,818 shares during the last quarter. Royal Bank of Canada grew its holdings in Jack in the Box by 12.9% during the 2nd quarter. Royal Bank of Canada now owns 32,410 shares of the restaurant operator’s stock worth $3,611,000 after acquiring an additional 3,693 shares during the period. Balyasny Asset Management LLC grew its stake in shares of Jack in the Box by 372.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 64,091 shares of the restaurant operator’s stock valued at $7,142,000 after buying an additional 50,515 shares during the period. Finally, AdvisorShares Investments LLC boosted its stake in Jack in the Box by 51.1% during the 3rd quarter. AdvisorShares Investments LLC now owns 6,769 shares of the restaurant operator’s stock valued at $659,000 after purchasing an additional 2,288 shares during the last quarter. 98.67% of the stock is currently owned by hedge funds and other institutional investors.

About Jack in the Box

Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.

Featured Article: Trading Strategy Methods and Types

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

Receive News & Ratings for Jack in the Box Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack in the Box and related companies with MarketBeat.com's FREE daily email newsletter.