Jack in the Box (NASDAQ:JACK) Downgraded to “Neutral” Rating by Northcoast Research

Northcoast Research cut shares of Jack in the Box (NASDAQ:JACK) from a buy rating to a neutral rating in a research report released on Thursday morning, Marketbeat Ratings reports.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Jack in the Box in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on 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. Barclays lowered their target price 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 note on Tuesday, October 22nd. Loop Capital dropped their price target on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their price objective on shares of Jack in the Box from $55.00 to $47.00 and set a “sell” rating for the company in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.44.

Jack in the Box Trading Down 3.6 %

Shares of Jack in the Box stock opened at $44.76 on Thursday. The stock has a fifty day simple moving average of $46.00 and a 200 day simple moving average of $50.44. Jack in the Box has a 12-month low of $40.84 and a 12-month high of $86.20. The company has a market capitalization of $856.26 million, a P/E ratio of -22.49, a price-to-earnings-growth ratio of 0.70 and a beta of 1.93.

Jack in the Box Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 30th were issued 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 yield of 3.93%. Jack in the Box’s dividend payout ratio is presently -88.44%.

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 that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares in the company, valued at $642,360.66. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Jack in the Box

A number of hedge funds have recently modified their holdings of JACK. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Jack in the Box by 21.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,073 shares of the restaurant operator’s stock worth $9,387,000 after acquiring an additional 23,770 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Jack in the Box during the second quarter valued at approximately $3,311,000. Seven Eight Capital LP purchased a new position in shares of Jack in the Box during the first quarter valued at approximately $1,096,000. Aigen Investment Management LP boosted its position in shares of Jack in the Box by 238.5% in the 3rd quarter. Aigen Investment Management LP now owns 21,869 shares of the restaurant operator’s stock worth $1,018,000 after purchasing an additional 15,409 shares in the last quarter. Finally, Access Investment Management LLC purchased a new stake in shares of Jack in the Box in the 3rd quarter worth approximately $1,475,000. Institutional investors 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.