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

Jack In The Box (NASDAQ:JACK) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other research analysts have also recently issued reports on JACK. Mizuho lifted their price objective on shares of Jack In The Box from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d)” rating on shares of Jack In The Box in a research note on Tuesday, August 11th. Royal Bank Of Canada raised their target price on Jack In The Box from $16.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Wall Street Zen upgraded Jack In The Box from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $16.00 price target on shares of Jack In The Box in a research note on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.22.

Jack In The Box Stock Down 1.8%

Shares of Jack In The Box stock opened at $13.46 on Monday. Jack In The Box has a 12-month low of $8.91 and a 12-month high of $23.86. The company has a market capitalization of $258.15 million, a price-to-earnings ratio of 7.78, a PEG ratio of 0.82 and a beta of 1.38. The firm’s 50-day moving average price is $15.72 and its two-hundred day moving average price is $13.74.

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. Jack In The Box had a net margin of 2.84% and a negative return on equity of 6.33%. The company had revenue of $257.66 million during the quarter, compared to analysts’ expectations of $264.60 million. During the same period in the previous year, the company earned $1.02 EPS. The business’s revenue for the quarter was down 22.6% compared to the same quarter last year. On average, sell-side analysts expect that Jack In The Box will post 3.15 earnings per share for the current year.

Hedge Funds Weigh In On Jack In The Box

Several institutional investors and hedge funds have recently added to or reduced their stakes in JACK. Headlands Technologies LLC bought a new position in Jack In The Box in the 2nd quarter valued at approximately $612,000. Nantahala Capital Management LLC bought a new stake in shares of Jack In The Box during the second quarter worth $27,330,099. Windward Management LP bought a new stake in shares of Jack In The Box during the second quarter worth $2,883,807. Public Employees Retirement System of Ohio acquired a new position in shares of Jack In The Box during the second quarter worth $48,000. Finally, Bank of America Corp DE acquired a new position in shares of Jack In The Box during the second quarter worth $18,409,000. Institutional investors own 99.79% of the company’s stock.

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.