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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