Morgan Stanley Lowers Jack in the Box (NASDAQ:JACK) Price Target to $45.00

Jack in the Box (NASDAQ:JACK) had its price objective cut by research analysts at Morgan Stanley from $53.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price target indicates a potential upside of 16.40% from the stock’s current price.

JACK has been the topic of several other reports. TD Cowen reaffirmed a “hold” rating and set a $50.00 price target on shares of Jack in the Box in a research report on Thursday, November 21st. Loop Capital decreased their price target on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays raised their price objective on shares of Jack in the Box from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. Wedbush decreased their target price on shares of Jack in the Box from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Finally, Truist Financial dropped their price target on shares of Jack in the Box from $70.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.88.

Jack in the Box Price Performance

NASDAQ:JACK opened at $38.66 on Tuesday. The company’s fifty day moving average price is $43.55 and its 200-day moving average price is $47.23. Jack in the Box has a 1-year low of $36.36 and a 1-year high of $81.01. The firm has a market capitalization of $727.97 million, a P/E ratio of -19.83, a PEG ratio of 1.27 and a beta of 1.94.

Insiders Place Their Bets

In other Jack in the Box news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $40.52, for a total value of $68,397.76. Following the completion of the sale, the senior vice president now directly owns 16,815 shares of the company’s stock, valued at $681,343.80. This trade represents a 9.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 2,343 shares of company stock valued at $100,601 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jack in the Box

Several institutional investors and hedge funds have recently bought and sold shares of JACK. Invenomic Capital Management LP purchased a new position in Jack in the Box in the third quarter worth approximately $11,802,000. Clearline Capital LP lifted its stake in shares of Jack in the Box by 136.7% in the 2nd quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock valued at $12,757,000 after purchasing an additional 144,631 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Jack in the Box by 296.5% during the 2nd quarter. Squarepoint Ops LLC now owns 135,146 shares of the restaurant operator’s stock worth $6,884,000 after purchasing an additional 101,064 shares during the period. Barclays PLC increased its position in shares of Jack in the Box by 70.9% during the 3rd quarter. Barclays PLC now owns 216,117 shares of the restaurant operator’s stock worth $10,060,000 after purchasing an additional 89,649 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Jack in the Box by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 712,416 shares of the restaurant operator’s stock valued at $33,156,000 after buying an additional 85,461 shares during the period. 99.79% of the stock is currently owned by institutional investors and hedge funds.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.