Jack in the Box (NASDAQ:JACK) Shares Gap Up Following Analyst Upgrade

Jack in the Box Inc. (NASDAQ:JACKGet Rating)’s stock price gapped up before the market opened on Thursday after Morgan Stanley raised their price target on the stock from $76.00 to $79.00. The stock had previously closed at $73.45, but opened at $75.14. Morgan Stanley currently has an equal weight rating on the stock. Jack in the Box shares last traded at $73.50, with a volume of 102 shares trading hands.

Several other research firms have also recently commented on JACK. Oppenheimer lowered their target price on Jack in the Box from $107.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 23rd. Cowen increased their price target on Jack in the Box from $70.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, November 18th. Wolfe Research began coverage on Jack in the Box in a research note on Wednesday, September 21st. They set a “peer perform” rating for the company. Wedbush lowered Jack in the Box from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $100.00 to $75.00 in a research note on Wednesday, December 21st. Finally, Royal Bank of Canada decreased their price target on Jack in the Box from $89.00 to $81.00 and set an “outperform” rating for the company in a research note on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.65.

Insider Activity

In other news, CEO Darin S. Harris sold 2,034 shares of the stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $67.06, for a total value of $136,400.04. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Darin S. Harris sold 2,034 shares of the stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $67.06, for a total value of $136,400.04. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Darin S. Harris sold 1,258 shares of the stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $69.12, for a total value of $86,952.96. Following the completion of the sale, the chief executive officer now owns 35,520 shares of the company’s stock, valued at approximately $2,455,142.40. The disclosure for this sale can be found here. Insiders sold 4,479 shares of company stock worth $306,303 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Jack in the Box

Hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC purchased a new stake in shares of Jack in the Box during the first quarter worth $25,000. Lazard Asset Management LLC purchased a new stake in shares of Jack in the Box during the third quarter worth $31,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Jack in the Box during the third quarter worth $69,000. Repertoire Partners LP purchased a new stake in shares of Jack in the Box during the second quarter worth $56,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Jack in the Box by 344.1% during the third quarter. Quadrant Capital Group LLC now owns 1,088 shares of the restaurant operator’s stock worth $81,000 after acquiring an additional 843 shares in the last quarter. 99.78% of the stock is currently owned by hedge funds and other institutional investors.

Jack in the Box Price Performance

The company has a fifty day moving average of $72.37 and a 200-day moving average of $76.03. The firm has a market capitalization of $1.55 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 0.81 and a beta of 1.57.

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

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 22nd. Shareholders of record on Wednesday, December 7th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.36%. Jack in the Box’s dividend payout ratio (DPR) is currently 32.18%.

Jack in the Box Company Profile

(Get Rating)

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.

See Also

Receive News & Ratings for Jack in the Box Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack in the Box and related companies with MarketBeat.com's FREE daily email newsletter.