Zacks Investment Research Upgrades Jack In The Box Inc. (JACK) to Hold

Jack In The Box Inc. (NASDAQ:JACK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Jack in the Box makes regular menu innovations and plans to continue focusing on improving the guest experience at both brands via operational excellence. In addition, its premium and value offerings at Jack In the Box along with increased focus on breakfast menu to combat competition bode well. Increased focus on franchising should also drive long-term growth. Meanwhile comps at the Qdoba brand have been suffering due to poor restaurant level execution. A choppy sales environment in the U.S. restaurant space has further been hurting comps at both the brands and might continue doing so. Notably, Jack in the Box’s shares have underperformed the industry year-to-date. Further, higher costs might continue to hurt margins. Nonetheless, expansion of third-party delivery channels at both brands should also increase transactions and sales. Efforts to reinvigorate the Qdoba brand also bodes well.”

A number of other equities analysts have also recently commented on the company. TheStreet raised Jack In The Box from a “c+” rating to a “b-” rating in a report on Thursday, June 15th. BidaskClub cut Jack In The Box from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Jack In The Box in a report on Thursday, August 3rd. Telsey Advisory Group raised Jack In The Box from a “market perform” rating to an “outperform” rating and set a $118.00 target price on the stock in a report on Wednesday, October 4th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $118.00 target price (down from $120.00) on shares of Jack In The Box in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $114.15.

Jack In The Box (JACK) opened at 100.62 on Wednesday. The stock has a 50 day moving average price of $97.00 and a 200 day moving average price of $99.53. Jack In The Box has a 12 month low of $90.89 and a 12 month high of $113.30. The stock has a market capitalization of $2.96 billion, a PE ratio of 23.22 and a beta of 0.58.

Jack In The Box (NASDAQ:JACK) last announced its earnings results on Wednesday, August 9th. The restaurant operator reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.06). Jack In The Box had a negative return on equity of 37.83% and a net margin of 8.51%. The company had revenue of $357.80 million during the quarter, compared to the consensus estimate of $360.84 million. During the same period in the prior year, the business posted $1.07 earnings per share. Jack In The Box’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Jack In The Box will post $4.05 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd grew its position in shares of Jack In The Box by 471.1% during the second quarter. Dynamic Technology Lab Private Ltd now owns 17,560 shares of the restaurant operator’s stock valued at $1,730,000 after purchasing an additional 14,485 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Jack In The Box by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 2,188 shares of the restaurant operator’s stock valued at $216,000 after purchasing an additional 30 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Jack In The Box during the second quarter valued at about $568,000. Verition Fund Management LLC grew its position in shares of Jack In The Box by 8.3% during the second quarter. Verition Fund Management LLC now owns 9,343 shares of the restaurant operator’s stock valued at $920,000 after purchasing an additional 719 shares in the last quarter. Finally, Nomura Holdings Inc. grew its position in shares of Jack In The Box by 340.9% during the second quarter. Nomura Holdings Inc. now owns 14,351 shares of the restaurant operator’s stock valued at $1,413,000 after purchasing an additional 11,096 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Jack In The Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants (QSRs) and Qdoba Mexican Eats (Qdoba) fast-casual restaurants. The Company operates in two segments: Jack in the Box and Qdoba restaurant operations. Qdoba is a fast-casual Mexican food brand in the United States, offering food items including burritos, tacos, salads, and quesadillas.

Analyst Recommendations for Jack In The Box (NASDAQ:JACK)

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