Cowen Increases Jack in the Box (NASDAQ:JACK) Price Target to $80.00

Jack in the Box (NASDAQ:JACKGet Rating) had its target price hoisted by analysts at Cowen from $70.00 to $80.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the restaurant operator’s stock. Cowen’s target price suggests a potential downside of 6.32% from the stock’s current price.

Several other analysts have also weighed in on JACK. Royal Bank of Canada upped their target price on Jack in the Box from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. Morgan Stanley reduced their price objective on Jack in the Box from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft downgraded Jack in the Box from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research report on Tuesday, November 8th. Truist Financial reduced their price objective on Jack in the Box from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, August 11th. Finally, Guggenheim upped their price objective on Jack in the Box from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Jack in the Box presently has an average rating of “Hold” and an average target price of $92.21.

Jack in the Box Stock Performance

Jack in the Box stock opened at $85.40 on Friday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.66. Jack in the Box has a fifty-two week low of $54.80 and a fifty-two week high of $98.80. The stock’s fifty day moving average is $81.78 and its two-hundred day moving average is $75.29.

Institutional Investors Weigh In On Jack in the Box

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in Jack in the Box by 642.6% during the second quarter. SG Americas Securities LLC now owns 10,716 shares of the restaurant operator’s stock worth $601,000 after acquiring an additional 9,273 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Jack in the Box during the first quarter worth about $205,000. Hawk Ridge Capital Management LP increased its stake in Jack in the Box by 102.6% during the first quarter. Hawk Ridge Capital Management LP now owns 667,623 shares of the restaurant operator’s stock worth $62,363,000 after acquiring an additional 338,068 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Jack in the Box by 104.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,389 shares of the restaurant operator’s stock worth $690,000 after acquiring an additional 3,773 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in Jack in the Box by 404.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 12,788 shares of the restaurant operator’s stock worth $717,000 after acquiring an additional 10,254 shares during the last quarter. 99.09% of the stock is currently owned by institutional investors and hedge funds.

About Jack in the Box

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Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of November 23, 2021, it operated and franchised approximately 2,200 Jack in the Box quick-service restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

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