Jack in the Box (NASDAQ:JACK) Shares Gap Down on Analyst Downgrade

Shares of Jack in the Box Inc. (NASDAQ:JACK) gapped down prior to trading on Friday after UBS Group lowered their price target on the stock from $55.00 to $50.00. The stock had previously closed at $45.46, but opened at $44.02. UBS Group currently has a neutral rating on the stock. Jack in the Box shares last traded at $43.46, with a volume of 165,135 shares changing hands.

Several other equities analysts have also weighed in on JACK. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. TD Cowen reiterated a “hold” rating and set a $57.00 target price on shares of Jack in the Box in a research report on Thursday, September 12th. The Goldman Sachs Group initiated coverage on shares of Jack in the Box in a research report on Thursday, June 13th. They set a “sell” rating and a $55.00 target price for the company. Oppenheimer cut their target price on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.63.

Insider Activity at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the sale, the chief financial officer now directly owns 13,201 shares of the company’s stock, valued at $642,360.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jack in the Box

A number of institutional investors and hedge funds have recently bought and sold shares of JACK. Allspring Global Investments Holdings LLC raised its stake in shares of Jack in the Box by 26.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,955 shares of the restaurant operator’s stock worth $31,937,000 after acquiring an additional 130,214 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Jack in the Box by 261.5% during the second quarter. Victory Capital Management Inc. now owns 557,667 shares of the restaurant operator’s stock worth $28,408,000 after acquiring an additional 403,423 shares in the last quarter. Clearline Capital LP raised its stake in shares of Jack in the Box by 136.7% during the second quarter. Clearline Capital LP now owns 250,426 shares of the restaurant operator’s stock worth $12,757,000 after acquiring an additional 144,631 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Jack in the Box by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 245,491 shares of the restaurant operator’s stock worth $12,505,000 after purchasing an additional 18,874 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in shares of Jack in the Box by 10.2% in the second quarter. Earnest Partners LLC now owns 240,784 shares of the restaurant operator’s stock worth $12,266,000 after buying an additional 22,226 shares during the period. 99.79% of the stock is owned by hedge funds and other institutional investors.

Jack in the Box Price Performance

The firm’s 50 day moving average is $49.17 and its 200 day moving average is $53.89. The company has a market capitalization of $875.46 million, a PE ratio of 7.95, a P/E/G ratio of 0.70 and a beta of 1.94.

Jack in the Box (NASDAQ:JACK) last issued its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 EPS for the quarter, topping the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative net margin of 2.30% and a negative return on equity of 16.46%. The company had revenue of $369.17 million for the quarter, compared to the consensus estimate of $371.81 million. During the same period in the previous year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. As a group, analysts predict that Jack in the Box Inc. will post 6.22 EPS for the current fiscal year.

Jack in the Box Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, August 30th. Jack in the Box’s payout ratio is 30.99%.

Jack in the Box Company Profile

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.