Jack In The Box (NASDAQ:JACK) Lowered to Neutral Rating by Guggenheim

Jack In The Box (NASDAQ:JACK) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports.

Several other analysts have also issued reports on the stock. Jefferies Financial Group set a $12.50 price target on shares of Jack In The Box in a research report on Thursday, May 14th. Citigroup cut their price target on shares of Jack In The Box from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. TD Cowen cut their price target on shares of Jack In The Box from $16.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Oppenheimer cut their price target on shares of Jack In The Box from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Finally, Morgan Stanley cut their price target on shares of Jack In The Box from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.84.

Jack In The Box Stock Performance

Jack In The Box stock opened at $11.78 on Thursday. The stock has a market cap of $224.64 million, a P/E ratio of 6.37, a PEG ratio of 0.59 and a beta of 1.45. Jack In The Box has a fifty-two week low of $8.91 and a fifty-two week high of $25.34. The firm’s fifty day moving average price is $11.75 and its 200-day moving average price is $16.36.

Jack In The Box (NASDAQ:JACK) last released its earnings results on Wednesday, May 13th. The restaurant operator reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $254.26 million for the quarter, compared to analysts’ expectations of $256.55 million. Jack In The Box had a negative return on equity of 6.34% and a net margin of 2.82%.The firm’s revenue was down 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts predict that Jack In The Box will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Jack In The Box

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in shares of Jack In The Box by 5.9% during the first quarter. Royal Bank of Canada now owns 12,035 shares of the restaurant operator’s stock valued at $327,000 after purchasing an additional 671 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Jack In The Box by 206.6% during the first quarter. Cubist Systematic Strategies LLC now owns 5,967 shares of the restaurant operator’s stock valued at $162,000 after purchasing an additional 11,567 shares in the last quarter. Woodline Partners LP increased its stake in shares of Jack In The Box by 63.8% during the first quarter. Woodline Partners LP now owns 167,184 shares of the restaurant operator’s stock valued at $4,546,000 after purchasing an additional 65,142 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Jack In The Box during the third quarter valued at approximately $111,000. Finally, New York State Common Retirement Fund increased its stake in shares of Jack In The Box by 90.2% during the third quarter. New York State Common Retirement Fund now owns 33,971 shares of the restaurant operator’s stock valued at $672,000 after purchasing an additional 16,111 shares in the last quarter. 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.