Jack in the Box (JACK) Downgraded to Sell at ValuEngine

Jack in the Box (NASDAQ:JACK) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, September 11th.

Several other brokerages have also recently weighed in on JACK. Cowen reiterated a “hold” rating and issued a $94.00 price objective on shares of Jack in the Box in a research note on Thursday, August 9th. Wedbush restated an “outperform” rating on shares of Jack in the Box in a research report on Wednesday, July 11th. UBS Group boosted their target price on shares of Jack in the Box from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. BidaskClub cut shares of Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Finally, SunTrust Banks boosted their target price on shares of Jack in the Box to $100.00 and gave the company a “buy” rating in a research report on Friday, May 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Jack in the Box currently has an average rating of “Hold” and an average target price of $104.92.

Jack in the Box stock traded down $0.12 during midday trading on Tuesday, hitting $83.52. The company’s stock had a trading volume of 260,738 shares, compared to its average volume of 663,854. Jack in the Box has a 1-year low of $79.23 and a 1-year high of $108.55. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of -1.94. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.56 and a beta of 0.45.

Jack in the Box (NASDAQ:JACK) last issued its quarterly earnings data on Wednesday, August 8th. The restaurant operator reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. Jack in the Box had a net margin of 13.10% and a negative return on equity of 26.21%. The business had revenue of $187.98 million during the quarter, compared to analysts’ expectations of $185.05 million. During the same quarter in the previous year, the company earned $0.79 EPS. The business’s revenue was down 23.6% on a year-over-year basis. On average, sell-side analysts anticipate that Jack in the Box will post 3.89 earnings per share for the current fiscal year.

In related news, Director David Goebel sold 1,849 shares of Jack in the Box stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $83.58, for a total transaction of $154,539.42. Following the sale, the director now directly owns 18,396 shares of the company’s stock, valued at approximately $1,537,537.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leonard A. Comma sold 78,719 shares of Jack in the Box stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $90.74, for a total transaction of $7,142,962.06. Following the sale, the chief executive officer now directly owns 235,832 shares in the company, valued at $21,399,395.68. The disclosure for this sale can be found here. Insiders have sold a total of 81,693 shares of company stock worth $7,398,751 over the last ninety days. 2.60% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Jack in the Box by 3.0% during the 2nd quarter. BlackRock Inc. now owns 3,219,468 shares of the restaurant operator’s stock valued at $274,041,000 after purchasing an additional 94,185 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Jack in the Box by 4.5% during the 1st quarter. Millennium Management LLC now owns 1,039,330 shares of the restaurant operator’s stock valued at $88,686,000 after purchasing an additional 44,890 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Jack in the Box by 6.8% during the 2nd quarter. Voya Investment Management LLC now owns 796,430 shares of the restaurant operator’s stock valued at $67,793,000 after purchasing an additional 50,663 shares during the last quarter. Blue Harbour Group L.P. bought a new stake in shares of Jack in the Box during the 1st quarter valued at approximately $56,915,000. Finally, Macquarie Group Ltd. grew its holdings in shares of Jack in the Box by 11.0% during the 2nd quarter. Macquarie Group Ltd. now owns 509,379 shares of the restaurant operator’s stock valued at $43,358,000 after purchasing an additional 50,570 shares during the last quarter. 98.85% of the stock is currently owned by institutional investors.

About Jack in the Box

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of April 15, 2018, it operated and franchised 2,245 Jack in the Box restaurants primarily in the western and southern United States and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

Further Reading: What is the Dow Jones Industrial Average (DJIA)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Jack in the Box (NASDAQ:JACK)

Receive News & Ratings for Jack in the Box Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jack in the Box and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply