Jack in the Box (NASDAQ:JACK) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Jack in the Box (NASDAQ:JACK) from a hold rating to a buy rating in a research report released on Thursday morning, BidAskClub reports.

Several other research analysts have also weighed in on the company. Cowen reissued a hold rating on shares of Jack in the Box in a research report on Thursday, May 16th. Goldman Sachs Group started coverage on Jack in the Box in a research report on Monday, July 29th. They issued a sell rating and a $69.00 price objective for the company. Morgan Stanley set a $89.00 price objective on Jack in the Box and gave the stock a hold rating in a research report on Friday, August 9th. Robert W. Baird lifted their price objective on Jack in the Box from $95.00 to $104.00 and gave the stock an outperform rating in a research report on Friday, August 9th. Finally, Credit Suisse Group lifted their price objective on Jack in the Box from $75.00 to $78.00 and gave the stock an underperform rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Jack in the Box presently has an average rating of Hold and an average price target of $92.33.

JACK stock opened at $87.98 on Thursday. The stock has a 50-day moving average price of $83.35 and a 200-day moving average price of $80.83. Jack in the Box has a 1-year low of $70.77 and a 1-year high of $90.49. The firm has a market cap of $2.24 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.54 and a beta of 0.22.

Jack in the Box (NASDAQ:JACK) last posted its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Jack in the Box had a negative return on equity of 18.59% and a net margin of 9.78%. The firm had revenue of $222.36 million during the quarter, compared to analyst estimates of $220.44 million. During the same period last year, the company posted $1.00 EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities analysts forecast that Jack in the Box will post 4.34 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, August 16th. Jack in the Box’s payout ratio is 42.22%.

In related news, EVP Phillip H. Rudolph sold 2,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $82.00, for a total value of $164,000.00. Following the completion of the sale, the executive vice president now directly owns 99,357 shares of the company’s stock, valued at approximately $8,147,274. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Carol A. Diraimo sold 1,540 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $90.00, for a total value of $138,600.00. Following the completion of the sale, the vice president now directly owns 18,538 shares of the company’s stock, valued at $1,668,420. The disclosure for this sale can be found here. Insiders sold a total of 35,080 shares of company stock valued at $3,047,960 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Jack in the Box by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,460,560 shares of the restaurant operator’s stock valued at $200,264,000 after buying an additional 143,766 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Jack in the Box by 193.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 872,672 shares of the restaurant operator’s stock worth $71,026,000 after purchasing an additional 575,737 shares in the last quarter. Invesco Ltd. increased its holdings in Jack in the Box by 51.2% during the 2nd quarter. Invesco Ltd. now owns 857,348 shares of the restaurant operator’s stock worth $69,780,000 after purchasing an additional 290,312 shares in the last quarter. Marshall Wace LLP increased its holdings in Jack in the Box by 69.3% during the 2nd quarter. Marshall Wace LLP now owns 653,864 shares of the restaurant operator’s stock worth $53,218,000 after purchasing an additional 267,686 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Jack in the Box by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 454,544 shares of the restaurant operator’s stock worth $36,996,000 after purchasing an additional 5,622 shares in the last quarter.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box 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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