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

Jack in the Box (NASDAQ:JACK) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday, BidAskClub reports.

Several other research firms have also issued reports on JACK. Credit Suisse Group restated a “sell” rating and set a $78.00 price target on shares of Jack in the Box in a research report on Sunday, November 24th. Wedbush restated a “buy” rating and set a $105.00 price target on shares of Jack in the Box in a research report on Thursday, November 14th. ValuEngine upgraded Jack in the Box from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. SunTrust Banks reduced their price target on Jack in the Box to $98.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Wells Fargo & Co raised their price target on Jack in the Box from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Jack in the Box presently has an average rating of “Hold” and an average price target of $92.60.

JACK opened at $77.72 on Friday. The stock’s 50 day simple moving average is $81.88 and its 200 day simple moving average is $83.67. Jack in the Box has a 1 year low of $70.77 and a 1 year high of $93.12. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.45 and a beta of 0.22.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings results on Wednesday, November 20th. The restaurant operator reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.01). Jack in the Box had a negative return on equity of 18.08% and a net margin of 9.94%. The company had revenue of $221.24 million for the quarter, compared to the consensus estimate of $222.68 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. Jack in the Box’s revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts anticipate that Jack in the Box will post 4.5 EPS for the current fiscal year.

In other news, CEO Leonard A. Comma sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $92.00, for a total value of $276,000.00. Following the completion of the transaction, the chief executive officer now owns 180,552 shares in the company, valued at approximately $16,610,784. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Leonard A. Comma sold 4,736 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $79.33, for a total value of $375,706.88. Following the completion of the transaction, the chief executive officer now owns 171,488 shares of the company’s stock, valued at approximately $13,604,143.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,886 shares of company stock valued at $2,977,322. 2.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JACK. Tower Research Capital LLC TRC lifted its stake in shares of Jack in the Box by 6,483.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 395 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 389 shares during the period. Strs Ohio purchased a new position in shares of Jack in the Box in the 2nd quarter valued at approximately $40,000. Point72 Hong Kong Ltd lifted its stake in shares of Jack in the Box by 3,727.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 842 shares of the restaurant operator’s stock valued at $69,000 after purchasing an additional 820 shares during the period. First Mercantile Trust Co. lifted its stake in shares of Jack in the Box by 11.5% in the 3rd quarter. First Mercantile Trust Co. now owns 1,269 shares of the restaurant operator’s stock valued at $116,000 after purchasing an additional 131 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Jack in the Box in the 2nd quarter valued at approximately $159,000.

About Jack in the Box

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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