Morgan Stanley Trims Jack in the Box (NASDAQ:JACK) Target Price to $89.00

Jack in the Box (NASDAQ:JACKGet Rating) had its price objective lowered by research analysts at Morgan Stanley from $98.00 to $89.00 in a research note issued to investors on Friday, The Fly reports. Morgan Stanley’s price objective points to a potential upside of 29.23% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wedbush reduced their price target on Jack in the Box from $110.00 to $90.00 in a report on Friday. Gordon Haskett lowered shares of Jack in the Box from a “buy” rating to a “hold” rating and set a $96.00 target price on the stock. in a research note on Monday, February 28th. Zacks Investment Research raised Jack in the Box from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, April 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Jack in the Box from $108.00 to $86.00 in a report on Friday. Finally, Citigroup began coverage on Jack in the Box in a research note on Tuesday, April 12th. They issued a “neutral” rating and a $104.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Jack in the Box presently has a consensus rating of “Hold” and an average price target of $104.30.

Jack in the Box stock opened at $68.87 on Friday. The firm has a fifty day simple moving average of $84.69 and a two-hundred day simple moving average of $87.08. Jack in the Box has a twelve month low of $65.00 and a twelve month high of $122.70. The company has a market capitalization of $1.45 billion, a PE ratio of 9.81, a P/E/G ratio of 0.65 and a beta of 1.70.

Jack in the Box (NASDAQ:JACKGet Rating) last issued its earnings results on Thursday, May 26th. The restaurant operator reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.20). Jack in the Box had a net margin of 13.41% and a negative return on equity of 19.33%. The company had revenue of $322.29 million for the quarter, compared to analysts’ expectations of $340.81 million. During the same quarter in the prior year, the company earned $1.48 earnings per share. The company’s revenue was up 25.3% compared to the same quarter last year. As a group, analysts predict that Jack in the Box will post 6.58 earnings per share for the current year.

In other news, Director Michael W. Murphy sold 859 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $83.11, for a total transaction of $71,391.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in shares of Jack in the Box in the 1st quarter worth approximately $25,000. Lazard Asset Management LLC boosted its holdings in Jack in the Box by 17.9% in the fourth quarter. Lazard Asset Management LLC now owns 743 shares of the restaurant operator’s stock worth $64,000 after purchasing an additional 113 shares during the period. Gladius Capital Management LP bought a new stake in Jack in the Box during the fourth quarter valued at $73,000. US Asset Management LLC acquired a new stake in shares of Jack in the Box during the first quarter worth $80,000. Finally, Dark Forest Capital Management LP raised its stake in Jack in the Box by 677.2% during the third quarter. Dark Forest Capital Management LP now owns 956 shares of the restaurant operator’s stock worth $93,000 after acquiring an additional 833 shares during the period. 99.09% of the stock is currently owned by hedge funds and other institutional investors.

About Jack in the Box (Get Rating)

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of November 23, 2021, it operated and franchised approximately 2,200 Jack in the Box quick-service restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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