Jack In The Box (NASDAQ:JACK) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Jack In The Box (NASDAQ:JACK) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks reports.

Several other brokerages also recently weighed in on JACK. Mizuho upped their price objective on Jack In The Box from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Jack In The Box from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Royal Bank Of Canada lifted their price target on shares of Jack In The Box from $16.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Citigroup boosted their target price on shares of Jack In The Box from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Finally, UBS Group upped their price target on shares of Jack In The Box from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Jack In The Box has a consensus rating of “Hold” and a consensus target price of $17.22.

Jack In The Box Stock Down 1.8%

JACK stock opened at $13.46 on Monday. Jack In The Box has a 52 week low of $8.91 and a 52 week high of $23.86. The business has a 50-day simple moving average of $15.72 and a 200 day simple moving average of $13.74. The company has a market cap of $258.15 million, a PE ratio of 7.78, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38.

Jack In The Box (NASDAQ:JACK) last issued its earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. The company had revenue of $257.66 million during the quarter, compared to analysts’ expectations of $264.60 million. Jack In The Box had a net margin of 2.84% and a negative return on equity of 6.33%. The business’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 EPS. On average, analysts anticipate that Jack In The Box will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Jack In The Box

A number of institutional investors have recently added to or reduced their stakes in JACK. Nantahala Capital Management LLC bought a new stake in shares of Jack In The Box in the second quarter worth $27,330,099. Biglari Capital CORP. acquired a new position in Jack In The Box during the 2nd quarter worth about $26,618,538. BlackRock Inc. bought a new stake in shares of Jack In The Box in the 2nd quarter valued at about $21,222,000. Bank of America Corp DE acquired a new stake in shares of Jack In The Box in the second quarter valued at about $18,409,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Jack In The Box during the second quarter worth about $5,950,000. 99.79% of the stock is owned by institutional investors.

About Jack In The Box

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.