Jack In The Box (NASDAQ:JACK) Announces Quarterly Earnings Results

Jack In The Box (NASDAQ:JACK) issued its quarterly earnings results on Wednesday. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16), FiscalAI reports. The company had revenue of $326.19 million for the quarter, compared to analyst estimates of $324.23 million. Jack In The Box had a negative net margin of 4.34% and a negative return on equity of 11.31%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS.

Jack In The Box Stock Up 0.9%

Shares of JACK opened at $14.38 on Thursday. The company has a market capitalization of $271.54 million, a price-to-earnings ratio of -4.17 and a beta of 1.20. Jack In The Box has a 52 week low of $13.99 and a 52 week high of $50.45. The stock’s 50-day moving average price is $17.71 and its 200-day moving average price is $19.48.

Hedge Funds Weigh In On Jack In The Box

Large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in 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 buying an additional 671 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Jack In The Box by 206.6% in the first quarter. Cubist Systematic Strategies LLC now owns 5,967 shares of the restaurant operator’s stock worth $162,000 after acquiring an additional 11,567 shares during the period. Woodline Partners LP boosted its stake in shares of Jack In The Box by 63.8% during the 1st quarter. Woodline Partners LP now owns 167,184 shares of the restaurant operator’s stock worth $4,546,000 after acquiring an additional 65,142 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Jack In The Box by 45.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 389,327 shares of the restaurant operator’s stock valued at $7,697,000 after acquiring an additional 121,752 shares during the period. Finally, US Bancorp DE increased its stake in shares of Jack In The Box by 96.7% in the 3rd quarter. US Bancorp DE now owns 1,420 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 698 shares in the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JACK. TD Cowen reduced their target price on Jack In The Box from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday. Mizuho raised Jack In The Box to a “hold” rating in a report on Tuesday, October 28th. Royal Bank Of Canada reduced their price objective on Jack In The Box from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Oppenheimer decreased their target price on Jack In The Box from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Jack In The Box in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.68.

Jack In The Box Company Profile

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.