Jack in the Box (NASDAQ:JACK) Given Outperform Rating at Royal Bank of Canada

Jack in the Box (NASDAQ:JACK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $55.00 price objective on the restaurant operator’s stock. Royal Bank of Canada’s price objective points to a potential upside of 38.96% from the company’s previous close.

Several other research analysts have also weighed in on the company. Barclays lifted their target price on Jack in the Box from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Loop Capital decreased their price objective on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lowered their target price on Jack in the Box from $51.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Piper Sandler reduced their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Oppenheimer lowered their price objective on shares of Jack in the Box from $60.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and a consensus target price of $57.76.

Jack in the Box Stock Performance

JACK opened at $39.58 on Thursday. The firm’s fifty day moving average is $44.08 and its two-hundred day moving average is $47.44. The firm has a market cap of $745.29 million, a PE ratio of -20.30, a price-to-earnings-growth ratio of 1.22 and a beta of 1.94. Jack in the Box has a twelve month low of $36.36 and a twelve month high of $81.01.

Insider Activity

In related news, SVP Sarah L. Super sold 1,688 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were 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 in the company, valued at approximately $681,343.80. This trade represents a 9.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 2,343 shares of company stock valued at $100,601. 1.60% of the stock is owned by insiders.

Institutional Trading of Jack in the Box

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in Jack in the Box by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock valued at $496,000 after acquiring an additional 358 shares during the period. GAMMA Investing LLC boosted its position in Jack in the Box by 229.7% during the fourth quarter. GAMMA Investing LLC now owns 1,055 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 735 shares during the period. MML Investors Services LLC increased its holdings in shares of Jack in the Box by 20.3% in the third quarter. MML Investors Services LLC now owns 4,852 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 819 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Jack in the Box in the third quarter valued at about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Jack in the Box by 172.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock worth $100,000 after buying an additional 1,354 shares during the last quarter. 99.79% of the stock is 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.