Jack In The Box (NASDAQ:JACK) Price Target Cut to $16.00 by Analysts at Citigroup

Jack In The Box (NASDAQ:JACK) had its price target reduced by equities research analysts at Citigroup from $19.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s price target would suggest a potential upside of 0.73% from the company’s current price.

Several other research firms have also recently issued reports on JACK. TD Cowen reduced their price objective on shares of Jack In The Box from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday. UBS Group reduced their price target on shares of Jack In The Box from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday. Stifel Nicolaus dropped their price objective on shares of Jack In The Box from $20.00 to $18.00 and set a “hold” rating for the company in a report on Thursday. Oppenheimer cut their price objective on Jack In The Box from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Bank of America assumed coverage on Jack In The Box in a research report on Monday, October 13th. They issued a “buy” rating and a $22.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Jack In The Box currently has an average rating of “Hold” and an average price target of $25.29.

Jack In The Box Stock Up 10.5%

NASDAQ:JACK traded up $1.50 on Thursday, reaching $15.88. 2,124,803 shares of the company’s stock traded hands, compared to its average volume of 1,041,436. The stock has a 50-day simple moving average of $17.71 and a 200-day simple moving average of $19.48. Jack In The Box has a 12 month low of $13.99 and a 12 month high of $50.45. The firm has a market cap of $299.94 million, a PE ratio of -4.60 and a beta of 1.20.

Jack In The Box (NASDAQ:JACK) last released its quarterly earnings data on Wednesday, November 19th. The restaurant operator reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). The business had revenue of $326.19 million during the quarter, compared to the consensus estimate of $324.23 million. Jack In The Box had a negative return on equity of 11.31% and a negative net margin of 4.34%.The business’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. On average, equities analysts anticipate that Jack In The Box will post 5.33 earnings per share for the current year.

Hedge Funds Weigh In On Jack In The Box

A number of large investors have recently made changes to their positions in JACK. Envestnet Asset Management Inc. raised its position in Jack In The Box by 44.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 163,193 shares of the restaurant operator’s stock worth $4,437,000 after purchasing an additional 50,366 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Jack In The Box during the first quarter valued at approximately $353,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Jack In The Box by 35.7% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 63,400 shares of the restaurant operator’s stock valued at $1,724,000 after buying an additional 16,685 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Jack In The Box by 148.1% in the first quarter. Avantax Advisory Services Inc. now owns 29,872 shares of the restaurant operator’s stock worth $812,000 after buying an additional 17,831 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Jack In The Box by 21.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,122 shares of the restaurant operator’s stock worth $221,000 after acquiring an additional 1,449 shares during the last quarter. 99.79% of the stock is owned by hedge funds and other institutional investors.

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.