Jack in the Box (NASDAQ:JACK) Stock Price Up 5.4% Following Analyst Upgrade

Jack in the Box Inc. (NASDAQ:JACK) shares were up 5.4% on Wednesday after Bank of America raised their price target on the stock from $72.00 to $73.00. Bank of America currently has a buy rating on the stock. Jack in the Box traded as high as $46.93 and last traded at $46.93. Approximately 138,532 shares changed hands during trading, a decline of 72% from the average daily volume of 501,264 shares. The stock had previously closed at $44.51.

JACK has been the subject of a number of other reports. Oppenheimer reduced 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 note on Wednesday, August 7th. Piper Sandler lowered their price target on Jack in the Box from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley reduced their price objective on shares of Jack in the Box from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Jack in the Box from $59.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays cut their target price on shares of Jack in the Box from $57.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Jack in the Box presently has an average rating of “Hold” and a consensus price target of $64.25.

Insider Activity at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were 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 directly owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Jack in the Box

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Jack in the Box by 9.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after buying an additional 179 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Jack in the Box by 2.5% in the first quarter. Illinois Municipal Retirement Fund now owns 11,378 shares of the restaurant operator’s stock valued at $779,000 after acquiring an additional 277 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Jack in the Box by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,733 shares of the restaurant operator’s stock worth $496,000 after acquiring an additional 358 shares in the last quarter. EntryPoint Capital LLC grew 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 acquiring an additional 366 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in Jack in the Box by 8.8% during the 1st quarter. Inspire Investing LLC now owns 5,796 shares of the restaurant operator’s stock valued at $397,000 after purchasing an additional 471 shares in the last quarter. Institutional investors and hedge funds own 99.79% of the company’s stock.

Jack in the Box Trading Up 4.0 %

The stock has a market capitalization of $897.95 million, a price-to-earnings ratio of 8.26, a PEG ratio of 0.63 and a beta of 1.94. The stock has a fifty day moving average of $46.75 and a two-hundred day moving average of $51.82.

Jack in the Box (NASDAQ:JACK) last announced its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.14. The company had revenue of $369.17 million during the quarter, compared to analyst estimates of $371.81 million. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. Equities analysts expect that Jack in the Box Inc. will post 6.22 earnings per share for the current year.

Jack in the Box Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were given a dividend of $0.44 per share. The ex-dividend date was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.80%. Jack in the Box’s payout ratio is 30.99%.

About Jack in the Box

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.