Zacks Investment Research upgraded shares of Jack In The Box Inc. (NASDAQ:JACK) from a sell rating to a hold rating in a research report released 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 weighed in on the company. Bank of America Corporation reaffirmed a buy rating and issued a $118.00 price objective (down previously from $120.00) on shares of Jack In The Box in a research note on Tuesday, June 13th. TheStreet upgraded Jack In The Box from a c+ rating to a b- rating in a research report on Thursday, June 15th. BidaskClub downgraded Jack In The Box from a hold rating to a sell rating in a research report on Tuesday, June 27th. Jefferies Group LLC restated a buy rating and set a $120.00 price objective on shares of Jack In The Box in a research report on Thursday, July 27th. Finally, Wells Fargo & Company restated an outperform rating and set a $125.00 price objective on shares of Jack In The Box in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $114.15.
Shares of Jack In The Box (JACK) traded down 0.83% during mid-day trading on Wednesday, reaching $99.39. The company had a trading volume of 414,312 shares. The firm has a 50 day moving average of $97.10 and a 200-day moving average of $99.53. Jack In The Box has a one year low of $90.89 and a one year high of $113.30. The stock has a market capitalization of $2.92 billion, a P/E ratio of 22.93 and a beta of 0.58.
Jack In The Box (NASDAQ:JACK) last released its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.06). Jack In The Box had a net margin of 8.51% and a negative return on equity of 37.83%. The company had revenue of $357.80 million for the quarter, compared to the consensus estimate of $360.84 million. During the same period in the prior year, the firm posted $1.07 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts forecast that Jack In The Box will post $4.05 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Managed Accounts LLC bought a new stake in Jack In The Box during the 1st quarter valued at $108,000. Royal Bank of Canada boosted its position in Jack In The Box by 9.0% during the 2nd quarter. Royal Bank of Canada now owns 1,274 shares of the restaurant operator’s stock valued at $126,000 after acquiring an additional 105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Jack In The Box by 61.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the restaurant operator’s stock valued at $156,000 after acquiring an additional 601 shares in the last quarter. Victory Capital Management Inc. boosted its position in Jack In The Box by 17.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,875 shares of the restaurant operator’s stock valued at $185,000 after acquiring an additional 283 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Jack In The Box by 61.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,097 shares of the restaurant operator’s stock valued at $207,000 after acquiring an additional 797 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.
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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