Royal Bank of Canada Cuts Jack in the Box (NASDAQ:JACK) Price Target to $45.00

Jack in the Box (NASDAQ:JACK) had its price target cut by Royal Bank of Canada from $55.00 to $45.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

Several other brokerages have also commented on JACK. Piper Sandler decreased their price target on Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley decreased their price target on Jack in the Box from $53.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Barclays cut their price objective on Jack in the Box from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday. Stifel Nicolaus cut their price objective on Jack in the Box from $52.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, January 10th. Finally, Oppenheimer cut their price objective on Jack in the Box from $60.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Jack in the Box currently has an average rating of “Hold” and a consensus target price of $49.56.

Jack in the Box Stock Performance

NASDAQ JACK opened at $38.44 on Wednesday. The stock’s fifty day moving average is $39.51 and its two-hundred day moving average is $44.42. The firm has a market capitalization of $724.82 million, a P/E ratio of -19.71, a price-to-earnings-growth ratio of 1.29 and a beta of 1.94. Jack in the Box has a fifty-two week low of $32.69 and a fifty-two week high of $76.56.

Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Tuesday, February 25th. The restaurant operator reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.21. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. The company had revenue of $469.44 million for the quarter, compared to analyst estimates of $470.47 million. As a group, sell-side analysts forecast that Jack in the Box will post 5.33 EPS for the current year.

Jack in the Box Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.76 annualized dividend and a yield of 4.58%. Jack in the Box’s dividend payout ratio (DPR) is -90.26%.

Insider Transactions at Jack in the Box

In other news, SVP Sarah L. Super sold 1,688 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $40.52, for a total transaction of $68,397.76. Following the completion of the transaction, the senior vice president now directly owns 16,815 shares of the company’s stock, valued at approximately $681,343.80. This represents a 9.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 2,190 shares of company stock valued at $92,961. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Jack in the Box during the 3rd quarter worth about $41,000. Quadrant Capital Group LLC boosted its position in shares of Jack in the Box by 96.7% during the 4th quarter. Quadrant Capital Group LLC now owns 899 shares of the restaurant operator’s stock worth $37,000 after acquiring an additional 442 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Jack in the Box during the 4th quarter worth about $40,000. GAMMA Investing LLC boosted its position in shares of Jack in the Box by 229.7% during the 4th quarter. GAMMA Investing LLC now owns 1,055 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 735 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Jack in the Box by 99.5% during the 4th quarter. KBC Group NV now owns 1,235 shares of the restaurant operator’s stock worth $51,000 after acquiring an additional 616 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

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.