Morgan Stanley Boosts Jack in the Box (NASDAQ:JACK) Price Target to $79.00

Jack in the Box (NASDAQ:JACKGet Rating) had its target price upped by analysts at Morgan Stanley from $76.00 to $79.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s target price points to a potential upside of 9.83% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Oppenheimer decreased their price objective on shares of Jack in the Box from $107.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, November 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Jack in the Box from $88.00 to $75.00 in a research report on Wednesday, November 23rd. Stifel Nicolaus decreased their price objective on shares of Jack in the Box from $96.00 to $80.00 in a research report on Monday, November 28th. Truist Financial upped their price objective on shares of Jack in the Box from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, January 12th. Finally, Citigroup decreased their price objective on shares of Jack in the Box from $88.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $82.65.

Jack in the Box Trading Down 2.1 %

Shares of Jack in the Box stock opened at $71.93 on Wednesday. The company has a fifty day moving average price of $72.58 and a 200 day moving average price of $75.91. Jack in the Box has a twelve month low of $54.80 and a twelve month high of $96.87. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.81 and a beta of 1.57.

Jack in the Box (NASDAQ:JACKGet Rating) last announced its quarterly earnings results on Tuesday, November 22nd. The restaurant operator reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). Jack in the Box had a negative return on equity of 16.07% and a net margin of 7.89%. The business had revenue of $402.77 million for the quarter, compared to analysts’ expectations of $392.44 million. Analysts forecast that Jack in the Box will post 5.54 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Darin S. Harris sold 2,034 shares of the stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $67.06, for a total transaction of $136,400.04. Following the sale, the chief executive officer now owns 33,486 shares in the company, valued at $2,245,571.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Darin S. Harris sold 2,034 shares of the stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $67.06, for a total transaction of $136,400.04. Following the sale, the chief executive officer now owns 33,486 shares in the company, valued at $2,245,571.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Darin S. Harris sold 1,258 shares of the stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $69.12, for a total transaction of $86,952.96. Following the sale, the chief executive officer now owns 35,520 shares in the company, valued at approximately $2,455,142.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,479 shares of company stock worth $306,303 over the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jack in the Box

Large investors have recently made changes to their positions in the company. Ancora Advisors LLC acquired a new stake in shares of Jack in the Box in the first quarter valued at approximately $25,000. Lazard Asset Management LLC acquired a new stake in shares of Jack in the Box in the third quarter valued at approximately $31,000. Repertoire Partners LP acquired a new stake in shares of Jack in the Box in the second quarter valued at approximately $56,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Jack in the Box in the third quarter valued at approximately $69,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Jack in the Box by 112.2% in the second quarter. Captrust Financial Advisors now owns 1,358 shares of the restaurant operator’s stock valued at $76,000 after acquiring an additional 718 shares in the last quarter. Institutional investors and hedge funds own 99.78% 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 22, 2022, it operated and franchised approximately 2,2180 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.

Further Reading

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

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