Jack in the Box (NASDAQ:JACK) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of Jack in the Box (NASDAQ:JACK) from a hold rating to a sell rating in a research report released on Wednesday, ValuEngine reports.

A number of other research firms have also commented on JACK. BidaskClub lowered shares of Weyco Group from a sell rating to a strong sell rating in a research report on Saturday, July 13th. Telsey Advisory Group reiterated an outperform rating and set a $95.00 target price (down from $105.00) on shares of Jack in the Box in a research report on Tuesday, April 16th. Cowen reiterated a buy rating on shares of Adverum Biotechnologies in a research report on Thursday, May 16th. SunTrust Banks lifted their target price on shares of Wix.Com to $154.00 and gave the company a buy rating in a research report on Friday, May 17th. Finally, Morgan Stanley dropped their target price on shares of Tesla from $97.00 to $10.00 and set an equal weight rating for the company in a research report on Tuesday, May 21st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Jack in the Box has a consensus rating of Hold and an average target price of $90.91.

JACK stock opened at $77.00 on Wednesday. The company has a 50 day moving average price of $82.50. Jack in the Box has a 12 month low of $74.19 and a 12 month high of $93.98. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 1.41 and a beta of 0.32.



Jack in the Box (NASDAQ:JACK) last released its quarterly earnings data on Wednesday, May 15th. The restaurant operator reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Jack in the Box had a net margin of 13.85% and a negative return on equity of 19.41%. The company had revenue of $215.73 million during the quarter, compared to analyst estimates of $217.99 million. During the same period last year, the business earned $0.80 earnings per share. Jack in the Box’s revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that Jack in the Box will post 4.25 EPS for the current fiscal year.

In other Jack in the Box news, VP Carol A. Diraimo sold 590 shares of Jack in the Box stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $82.02, for a total transaction of $48,391.80. Following the transaction, the vice president now directly owns 17,588 shares of the company’s stock, valued at $1,442,567.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Phillip H. Rudolph sold 2,000 shares of Jack in the Box stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $82.00, for a total transaction of $164,000.00. Following the transaction, the executive vice president now directly owns 99,357 shares in the company, valued at $8,147,274. The disclosure for this sale can be found here. Insiders have sold 5,267 shares of company stock worth $436,103 over the last three months. Insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Jack in the Box during the 4th quarter valued at $23,325,000. Wells Fargo & Company MN increased its position in Jack in the Box by 43.3% during the 1st quarter. Wells Fargo & Company MN now owns 448,922 shares of the restaurant operator’s stock valued at $36,390,000 after purchasing an additional 135,621 shares during the period. Macquarie Group Ltd. increased its position in Jack in the Box by 12.0% during the 4th quarter. Macquarie Group Ltd. now owns 709,239 shares of the restaurant operator’s stock valued at $55,059,000 after purchasing an additional 76,230 shares during the period. State of Wisconsin Investment Board boosted its holdings in shares of Jack in the Box by 33.4% during the 1st quarter. State of Wisconsin Investment Board now owns 160,050 shares of the restaurant operator’s stock valued at $12,974,000 after buying an additional 40,050 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Jack in the Box by 17.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 217,312 shares of the restaurant operator’s stock valued at $16,870,000 after buying an additional 31,899 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors.

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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