Bank of America Corporation Reaffirms Buy Rating for Jack In The Box Inc. (JACK)

Bank of America Corporation restated their buy rating on shares of Jack In The Box Inc. (NASDAQ:JACK) in a report released on Friday, May 19th. The brokerage currently has a $120.00 price objective on the restaurant operator’s stock, up from their previous price objective of $110.00.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Jack In The Box from a hold rating to a buy rating and set a $122.00 target price for the company in a report on Monday, February 20th. Jefferies Group LLC reaffirmed a buy rating on shares of Jack In The Box in a report on Friday, February 24th. Cowen and Company set a $125.00 price target on Jack In The Box and gave the company a buy rating in a research note on Wednesday, February 22nd. SunTrust Banks, Inc. raised Jack In The Box from a neutral rating to a buy rating and increased their price target for the company from $102.00 to $122.00 in a research note on Friday, February 10th. Finally, Barclays PLC reissued an equal weight rating and issued a $110.00 price target (down previously from $119.00) on shares of Jack In The Box in a research note on Friday, February 24th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Jack In The Box presently has an average rating of Hold and a consensus target price of $115.00.

Jack In The Box (NASDAQ JACK) traded up 0.07% during midday trading on Friday, reaching $106.35. 837,720 shares of the company traded hands. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 26.28 and a beta of 0.59. The company has a 50-day moving average price of $104.87 and a 200-day moving average price of $104.68. Jack In The Box has a 12-month low of $82.65 and a 12-month high of $113.30.

Jack In The Box (NASDAQ:JACK) last issued its earnings results on Tuesday, May 16th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. Jack In The Box had a negative return on equity of 49.06% and a net margin of 8.07%. The business had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $369.36 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts predict that Jack In The Box will post $4.20 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Tuesday, May 30th were issued a $0.40 dividend. The ex-dividend date was Thursday, May 25th. This represents a $1.60 annualized dividend and a yield of 1.50%. Jack In The Box’s payout ratio is currently 39.51%.

In other Jack In The Box news, EVP Phillip H. Rudolph sold 6,908 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $103.64, for a total value of $715,945.12. Following the transaction, the executive vice president now owns 99,261 shares in the company, valued at $10,287,410.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Advisors LLC bought a new position in Jack In The Box during the fourth quarter worth $625,000. Russell Investments Group Ltd. bought a new position in Jack In The Box during the fourth quarter worth $13,113,000. Blackstone Group L.P. bought a new position in Jack In The Box during the third quarter worth $10,181,000. Clinton Group Inc. bought a new position in Jack In The Box during the third quarter worth $2,504,000. Finally, Weiss Asset Management LP bought a new position in Jack In The Box during the third quarter worth $234,000. Institutional investors own 94.19% 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.

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