Wedbush Cuts Jack in the Box (NASDAQ:JACK) Price Target to $50.00

Jack in the Box (NASDAQ:JACK) had its price objective lowered by Wedbush from $60.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Wedbush’s price target would indicate a potential upside of 6.95% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Barclays reduced their price target on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. UBS Group reduced their price target on shares of Jack in the Box from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Piper Sandler reduced their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. TD Cowen reduced their price target on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Finally, Northcoast Research downgraded shares of Jack in the Box from a “buy” rating to a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.81.

Jack in the Box Price Performance

JACK traded up $1.99 during trading hours on Monday, reaching $46.75. 191,418 shares of the stock traded hands, compared to its average volume of 505,468. Jack in the Box has a fifty-two week low of $40.84 and a fifty-two week high of $86.20. The company has a market cap of $894.33 million, a price-to-earnings ratio of -23.49, a PEG ratio of 0.70 and a beta of 1.93. The firm’s fifty day simple moving average is $46.00 and its two-hundred day simple moving average is $50.44.

Insider Buying and Selling

In other Jack in the Box news, CFO Brian M. Scott sold 696 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares of the company’s stock, valued at $642,360.66. This represents a 5.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jack in the Box

Several large investors have recently made changes to their positions in JACK. Seven Eight Capital LP acquired a new stake in Jack in the Box during the 1st quarter valued at $1,096,000. UniSuper Management Pty Ltd acquired a new stake in Jack in the Box during the 1st quarter valued at $425,000. CANADA LIFE ASSURANCE Co lifted its holdings in Jack in the Box by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock valued at $1,265,000 after purchasing an additional 790 shares during the last quarter. MQS Management LLC bought a new position in Jack in the Box during the 1st quarter worth $260,000. Finally, EntryPoint Capital LLC increased its position in Jack in the Box by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after buying an additional 366 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.

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.