Jack in the Box (NASDAQ:JACK) Cut to Strong Sell at BidaskClub

BidaskClub downgraded shares of Jack in the Box (NASDAQ:JACK) from a sell rating to a strong sell rating in a report published on Saturday morning, BidAskClub reports.

Several other analysts also recently weighed in on JACK. Gordon Haskett upgraded shares of Jack in the Box from a hold rating to a buy rating in a report on Wednesday, March 27th. Telsey Advisory Group reiterated an outperform rating and issued a $95.00 target price (down previously from $105.00) on shares of Jack in the Box in a report on Tuesday, April 16th. Morgan Stanley dropped their target price on shares of Tesla from $97.00 to $10.00 and set an equal weight rating for the company in a report on Tuesday, May 21st. Wedbush reiterated a hold rating and issued a $2.00 target price on shares of Regulus Therapeutics in a report on Tuesday, April 9th. Finally, Credit Suisse Group assumed coverage on shares of Arco Platform in a report on Tuesday, June 25th. They issued a neutral rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Jack in the Box currently has a consensus rating of Hold and an average target price of $90.91.

Shares of NASDAQ JACK opened at $78.14 on Friday. The business’s 50 day moving average price is $82.73. The firm has a market cap of $2.03 billion, a P/E ratio of 20.62, a P/E/G ratio of 1.42 and a beta of 0.33. Jack in the Box has a 1 year low of $74.19 and a 1 year high of $93.98.

Jack in the Box (NASDAQ:JACK) last posted its earnings results on Wednesday, May 15th. The restaurant operator reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.06. Jack in the Box had a net margin of 13.85% and a negative return on equity of 19.41%. The firm had revenue of $215.73 million during the quarter, compared to the consensus estimate of $217.99 million. During the same quarter last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts predict that Jack in the Box will post 4.25 earnings per share for the current year.

In other Jack in the Box news, EVP Phillip H. Rudolph sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $82.00, for a total value of $164,000.00. Following the completion of the transaction, the executive vice president now owns 99,357 shares of the company’s stock, valued at approximately $8,147,274. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Carol A. Diraimo sold 590 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $82.02, for a total transaction of $48,391.80. Following the completion of the transaction, the vice president now directly owns 17,588 shares of the company’s stock, valued at approximately $1,442,567.76. The disclosure for this sale can be found here. Insiders sold a total of 5,267 shares of company stock valued at $436,103 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Falcon Point Capital LLC boosted its position in Jack in the Box by 3.9% in the 2nd quarter. Falcon Point Capital LLC now owns 70,545 shares of the restaurant operator’s stock valued at $5,741,000 after buying an additional 2,664 shares during the period. 6 Meridian boosted its position in Jack in the Box by 2.4% in the 2nd quarter. 6 Meridian now owns 6,178 shares of the restaurant operator’s stock valued at $503,000 after buying an additional 146 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Jack in the Box in the 2nd quarter valued at approximately $324,000. WINTON GROUP Ltd boosted its position in Jack in the Box by 89.5% in the 2nd quarter. WINTON GROUP Ltd now owns 7,401 shares of the restaurant operator’s stock valued at $602,000 after buying an additional 3,496 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Jack in the Box by 87.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,506 shares of the restaurant operator’s stock valued at $365,000 after buying an additional 2,100 shares during the period. 95.52% of the stock is owned by institutional investors.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

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