Jack in the Box (JACK) Receives Buy Rating from Wedbush

Jack in the Box (NASDAQ:JACK)‘s stock had its “buy” rating reiterated by analysts at Wedbush in a research note issued to investors on Thursday. They currently have a $115.00 target price on the restaurant operator’s stock. Wedbush’s price target would suggest a potential upside of 28.28% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. SunTrust Banks reiterated a “buy” rating and set a $113.00 price target on shares of Jack in the Box in a report on Wednesday, January 3rd. Robert W. Baird set a $115.00 price objective on shares of Jack in the Box and gave the stock a “buy” rating in a research note on Monday, November 27th. Oppenheimer restated a “buy” rating and issued a $125.00 price objective on shares of Jack in the Box in a research note on Monday, November 20th. Goldman Sachs Group upgraded shares of Jack in the Box from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Finally, Barclays restated an “equal weight” rating and issued a $101.00 price objective (up previously from $100.00) on shares of Jack in the Box in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $110.92.

Shares of Jack in the Box (NASDAQ JACK) traded up $2.57 during mid-day trading on Thursday, reaching $89.65. The company’s stock had a trading volume of 1,570,383 shares, compared to its average volume of 914,842. Jack in the Box has a one year low of $79.30 and a one year high of $113.00. The company has a debt-to-equity ratio of -2.79, a quick ratio of 0.51 and a current ratio of 0.53. The firm has a market capitalization of $2,650.00, a P/E ratio of 23.72, a PEG ratio of 1.63 and a beta of 0.42.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Wednesday, February 21st. The restaurant operator reported $1.23 EPS for the quarter, beating the consensus estimate of $1.06 by $0.17. Jack in the Box had a negative return on equity of 30.55% and a net margin of 8.71%. The company had revenue of $294.50 million for the quarter, compared to the consensus estimate of $284.37 million. During the same quarter last year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. sell-side analysts expect that Jack in the Box will post 4.02 earnings per share for the current fiscal year.

In related news, SVP Paul D. Melancon sold 461 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $99.78, for a total value of $45,998.58. Following the completion of the transaction, the senior vice president now directly owns 5,370 shares of the company’s stock, valued at $535,818.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jerry P. Rebel sold 1,925 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $99.78, for a total value of $192,076.50. Following the completion of the transaction, the chief financial officer now directly owns 112,181 shares of the company’s stock, valued at $11,193,420.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,671 shares of company stock valued at $2,586,928. 2.60% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its position in Jack in the Box by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 2,188 shares of the restaurant operator’s stock worth $216,000 after purchasing an additional 30 shares during the period. Royal Bank of Canada lifted its position in Jack in the Box by 9.0% in the second quarter. Royal Bank of Canada now owns 1,274 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 105 shares during the period. American International Group Inc. lifted its position in Jack in the Box by 0.7% in the third quarter. American International Group Inc. now owns 79,718 shares of the restaurant operator’s stock worth $8,125,000 after purchasing an additional 557 shares during the period. Victory Capital Management Inc. lifted its position in Jack in the Box by 36.5% in the third quarter. Victory Capital Management Inc. now owns 2,560 shares of the restaurant operator’s stock worth $261,000 after purchasing an additional 685 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Jack in the Box by 21.3% in the third quarter. Pacer Advisors Inc. now owns 4,037 shares of the restaurant operator’s stock worth $411,000 after purchasing an additional 709 shares during the period. 98.16% of the stock is owned by hedge funds and other institutional investors.

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About Jack in the Box

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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