Jack in the Box (NASDAQ:JACK) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Jack in the Box (NASDAQ:JACKFree Report) in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have a $75.00 price objective on the restaurant operator’s stock.

A number of other brokerages have also recently commented on JACK. Robert W. Baird reduced their target price on shares of Jack in the Box from $85.00 to $80.00 and set a neutral rating for the company in a report on Thursday, February 22nd. Morgan Stanley reduced their price objective on Jack in the Box from $75.00 to $70.00 and set an equal weight rating for the company in a research note on Wednesday. Northcoast Research upgraded Jack in the Box from a neutral rating to a buy rating and set a $95.00 target price on the stock in a research report on Monday, January 29th. Truist Financial cut their price target on Jack in the Box from $99.00 to $83.00 and set a buy rating for the company in a report on Wednesday. Finally, Barclays decreased their price objective on Jack in the Box from $80.00 to $60.00 and set an equal weight rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $78.00.

Read Our Latest Report on Jack in the Box

Jack in the Box Price Performance

JACK stock opened at $52.85 on Thursday. Jack in the Box has a 1 year low of $52.01 and a 1 year high of $99.56. The company has a market cap of $1.02 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.81. The stock’s fifty day moving average price is $61.91 and its 200-day moving average price is $70.77.

Jack in the Box (NASDAQ:JACKGet Free Report) last announced its earnings results on Tuesday, May 14th. The restaurant operator reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. Jack in the Box had a negative return on equity of 16.97% and a net margin of 7.07%. The business had revenue of $365.40 million for the quarter, compared to analysts’ expectations of $369.53 million. During the same period last year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, analysts expect that Jack in the Box will post 6.32 earnings per share for the current year.

Jack in the Box Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Thursday, June 6th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.33%. The ex-dividend date is Wednesday, June 5th. Jack in the Box’s payout ratio is currently 30.99%.

Insider Activity

In other news, Director Michael W. Murphy sold 1,332 shares of Jack in the Box stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $72.58, for a total value of $96,676.56. Following the sale, the director now directly owns 71,035 shares of the company’s stock, valued at $5,155,720.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Jack in the Box

Large investors have recently bought and sold shares of the business. LSV Asset Management lifted its position in Jack in the Box by 74.4% during the fourth quarter. LSV Asset Management now owns 996,472 shares of the restaurant operator’s stock valued at $81,342,000 after purchasing an additional 425,079 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Jack in the Box during the 4th quarter valued at about $11,424,000. Trexquant Investment LP lifted its holdings in shares of Jack in the Box by 840.9% in the 4th quarter. Trexquant Investment LP now owns 129,763 shares of the restaurant operator’s stock valued at $10,593,000 after acquiring an additional 115,972 shares during the last quarter. UBS Group AG grew its position in Jack in the Box by 678.4% in the fourth quarter. UBS Group AG now owns 105,203 shares of the restaurant operator’s stock worth $8,588,000 after acquiring an additional 91,688 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in Jack in the Box in the third quarter worth about $4,786,000. Institutional investors own 99.79% 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 and Del Taco quick-service restaurants in the United States. 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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