Piper Sandler Lowers Jack in the Box (NASDAQ:JACK) Price Target to $67.00

Jack in the Box (NASDAQ:JACK) had its price target lowered by equities research analysts at Piper Sandler from $81.00 to $67.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. Piper Sandler’s price objective suggests a potential upside of 24.54% from the stock’s previous close.

Several other brokerages have also recently issued reports on JACK. Morgan Stanley decreased their price objective on Jack in the Box from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 12th. Royal Bank of Canada raised their price objective on shares of Jack in the Box from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Northcoast Research upgraded shares of Jack in the Box from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Monday, January 29th. Wedbush upgraded Jack in the Box from a “neutral” rating to an “outperform” rating and raised their price target for the company from $79.00 to $88.00 in a research note on Thursday, March 14th. Finally, Barclays decreased their price target on Jack in the Box from $86.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, February 23rd. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.28.

Jack in the Box Stock Down 2.6 %

Shares of NASDAQ JACK opened at $53.80 on Wednesday. Jack in the Box has a 52-week low of $53.71 and a 52-week high of $99.56. The business’s 50 day moving average is $64.36 and its two-hundred day moving average is $71.11. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.67 and a beta of 1.81.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The firm had revenue of $487.50 million for the quarter, compared to the consensus estimate of $480.76 million. Jack in the Box had a negative return on equity of 17.24% and a net margin of 7.03%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 EPS. Analysts anticipate that Jack in the Box will post 6.38 EPS for the current fiscal year.

Insider Buying and Selling at Jack in the Box

In other Jack in the Box news, Director Michael W. Murphy sold 1,332 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $72.58, for a total transaction of $96,676.56. Following the completion of the sale, the director now directly owns 71,035 shares of the company’s stock, valued at approximately $5,155,720.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jack in the Box

Several institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Jack in the Box during the 3rd quarter worth approximately $93,000. Headlands Technologies LLC purchased a new position in Jack in the Box in the first quarter worth $97,000. Quadrant Capital Group LLC lifted its holdings in Jack in the Box by 21.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,541 shares of the restaurant operator’s stock valued at $126,000 after acquiring an additional 276 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Jack in the Box by 9.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock worth $163,000 after purchasing an additional 179 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Jack in the Box by 16,893.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the restaurant operator’s stock worth $176,000 after purchasing an additional 2,534 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

About Jack in the Box

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.