Jack in the Box (NASDAQ:JACK) Price Target Lowered to $88.00 at Truist Financial

Jack in the Box (NASDAQ:JACKGet Rating) had its price objective decreased by equities research analysts at Truist Financial from $100.00 to $88.00 in a note issued to investors on Wednesday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 22.31% from the stock’s current price.

Several other brokerages have also recently commented on JACK. Royal Bank of Canada increased their target price on Jack in the Box from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. The Goldman Sachs Group increased their target price on Jack in the Box from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Morgan Stanley decreased their price target on Jack in the Box from $79.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday. Credit Suisse Group decreased their price target on Jack in the Box from $84.00 to $73.00 and set an “underperform” rating on the stock in a report on Wednesday. Finally, Wolfe Research started coverage on Jack in the Box in a report on Wednesday, September 21st. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Jack in the Box has a consensus rating of “Hold” and an average target price of $86.04.

Jack in the Box Stock Performance

Shares of JACK stock opened at $71.95 on Wednesday. The stock’s fifty day moving average is $81.01 and its 200-day moving average is $75.14. The stock has a market capitalization of $1.52 billion, a PE ratio of 13.15, a PEG ratio of 0.77 and a beta of 1.66. Jack in the Box has a 52 week low of $54.80 and a 52 week high of $96.87.

Institutional Investors Weigh In On Jack in the Box

A number of hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Jack in the Box during the third quarter worth about $532,000. BNP Paribas Arbitrage SNC raised its position in shares of Jack in the Box by 19.5% during the third quarter. BNP Paribas Arbitrage SNC now owns 13,758 shares of the restaurant operator’s stock worth $1,019,000 after purchasing an additional 2,243 shares during the period. Alliancebernstein L.P. raised its position in shares of Jack in the Box by 4.6% during the third quarter. Alliancebernstein L.P. now owns 32,296 shares of the restaurant operator’s stock worth $2,392,000 after purchasing an additional 1,429 shares during the period. State Street Corp raised its position in Jack in the Box by 1.0% in the 3rd quarter. State Street Corp now owns 738,907 shares of the restaurant operator’s stock valued at $54,731,000 after buying an additional 6,960 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Jack in the Box by 5.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,807 shares of the restaurant operator’s stock valued at $1,615,000 after buying an additional 1,098 shares during the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

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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