Oppenheimer Lowers Jack in the Box (NASDAQ:JACK) Price Target to $92.00

Jack in the Box (NASDAQ:JACKGet Rating) had its target price cut by research analysts at Oppenheimer from $107.00 to $92.00 in a note issued to investors on Wednesday, The Fly reports. Oppenheimer’s target price suggests a potential upside of 27.87% from the company’s current price. Oppenheimer also issued estimates for Jack in the Box’s Q2 2023 earnings at $1.15 EPS.

Other analysts have also issued reports about the stock. Truist Financial cut their target price on shares of Jack in the Box from $107.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, August 11th. Deutsche Bank Aktiengesellschaft lowered shares of Jack in the Box from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a research report on Tuesday, November 8th. Morgan Stanley dropped their price target on shares of Jack in the Box from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Cowen upped their price target on shares of Jack in the Box from $70.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, November 18th. Finally, Wedbush upped their price target on shares of Jack in the Box from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, September 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.04.

Jack in the Box Stock Up 1.0 %

Shares of JACK stock opened at $71.95 on Wednesday. The company has a 50 day moving average price of $81.01 and a 200-day moving average price of $75.14. Jack in the Box has a 52 week low of $54.80 and a 52 week high of $96.87. The firm has a market capitalization of $1.52 billion, a PE ratio of 13.15, a P/E/G ratio of 0.77 and a beta of 1.66.

Institutional Investors Weigh In On Jack in the Box

A number of hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in shares of Jack in the Box by 2.9% in the first quarter. Envestnet Asset Management Inc. now owns 59,826 shares of the restaurant operator’s stock valued at $5,588,000 after acquiring an additional 1,675 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Jack in the Box by 87.6% in the first quarter. Victory Capital Management Inc. now owns 134,492 shares of the restaurant operator’s stock worth $11,131,000 after purchasing an additional 62,811 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Jack in the Box by 36.2% in the first quarter. New York State Common Retirement Fund now owns 22,850 shares of the restaurant operator’s stock worth $2,134,000 after purchasing an additional 6,069 shares during the last quarter. Swiss National Bank grew its holdings in shares of Jack in the Box by 4.2% in the first quarter. Swiss National Bank now owns 49,700 shares of the restaurant operator’s stock worth $4,642,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Jack in the Box by 41.9% in the first quarter. Principal Financial Group Inc. now owns 173,122 shares of the restaurant operator’s stock worth $16,171,000 after purchasing an additional 51,101 shares during the last quarter. Hedge funds and other institutional investors own 99.09% of the company’s stock.

About Jack in the Box

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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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