Jack in the Box (NASDAQ:JACK) Price Target Raised to $92.00 at Wedbush

Jack in the Box (NASDAQ:JACK – Get Rating) had its price target upped by Wedbush from $82.00 to $92.00 in a research note published on Thursday morning, The Fly reports. The brokerage currently has a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Jack in the Box’s Q2 2023 earnings at $1.14 EPS, Q3 2023 earnings at $1.28 EPS, Q4 2023 earnings at $1.34 EPS, FY2023 earnings at $6.03 EPS, Q1 2024 earnings at $2.25 EPS, Q1 2024 earnings at $1.97 EPS, Q2 2024 earnings at $1.43 EPS, Q2 2024 earnings at $1.41 EPS, Q3 2024 earnings at $1.49 EPS, Q4 2024 earnings at $1.57 EPS, Q4 2024 earnings at $1.50 EPS and FY2024 earnings at $6.45 EPS.

Several other research analysts have also issued reports on JACK. Robert W. Baird increased their target price on shares of Jack in the Box from $77.00 to $88.00 in a research note on Thursday. Citigroup cut their target price on shares of Jack in the Box from $88.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday, November 23rd. Barclays upped their price objective on shares of Jack in the Box from $73.00 to $84.00 and gave the stock an equal weight rating in a report on Thursday. Cowen restated a market perform rating and set a $80.00 price objective on shares of Jack in the Box in a report on Wednesday, February 22nd. Finally, Oppenheimer lowered their price objective on shares of Jack in the Box from $107.00 to $92.00 and set an outperform rating on the stock in a report on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $87.56.

Jack in the Box Stock Down 0.4 %

Shares of NASDAQ JACK opened at $87.46 on Thursday. The firm has a market cap of $1.80 billion, a PE ratio of 14.20, a P/E/G ratio of 0.90 and a beta of 1.62. Jack in the Box has a 12-month low of $54.80 and a 12-month high of $94.68. The company’s fifty day simple moving average is $75.99 and its 200 day simple moving average is $78.00.

Jack in the Box (NASDAQ:JACK – Get Rating) last issued its earnings results on Wednesday, March 1st. The restaurant operator reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.25. The business had revenue of $527.10 million for the quarter, compared to analyst estimates of $506.98 million. Jack in the Box had a net margin of 7.86% and a negative return on equity of 16.57%. Jack in the Box’s revenue was up 52.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 earnings per share. On average, equities analysts predict that Jack in the Box will post 5.75 earnings per share for the current year.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Wednesday, March 15th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.01%. Jack in the Box’s dividend payout ratio is currently 28.57%.

Insider Activity

In other news, CEO Darin S. Harris sold 1,258 shares of the stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $69.12, for a total value of $86,952.96. Following the completion of the sale, the chief executive officer now owns 35,520 shares in the company, valued at $2,455,142.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Darin S. Harris sold 1,258 shares of the stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $69.12, for a total transaction of $86,952.96. Following the completion of the transaction, the chief executive officer now owns 35,520 shares in the company, valued at $2,455,142.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Darin S. Harris sold 2,034 shares of the stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $67.06, for a total transaction of $136,400.04. Following the transaction, the chief executive officer now owns 33,486 shares of the company’s stock, valued at approximately $2,245,571.16. The disclosure for this sale can be found here. Insiders sold a total of 5,177 shares of company stock worth $358,825 over the last quarter. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Jack in the Box by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 496,956 shares of the restaurant operator’s stock worth $36,810,000 after purchasing an additional 12,664 shares during the period. ProShare Advisors LLC bought a new position in Jack in the Box during the third quarter worth about $215,000. Y Intercept Hong Kong Ltd boosted its position in Jack in the Box by 404.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 12,788 shares of the restaurant operator’s stock worth $717,000 after purchasing an additional 10,254 shares during the period. AlphaCrest Capital Management LLC bought a new position in Jack in the Box during the second quarter worth about $523,000. Finally, Granite Investment Partners LLC boosted its position in Jack in the Box by 87.7% during the third quarter. Granite Investment Partners LLC now owns 191,960 shares of the restaurant operator’s stock worth $14,218,000 after purchasing an additional 89,701 shares during the period. Institutional investors own 99.78% of the company’s stock.

About Jack in the Box

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Jack in the Box, Inc engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant segments. The Jack in the Box Restaurant segment offers a broad selection of distinctive products including burgers like Jumbo Jack burgers, and product lines such as Buttery Jack burgers including the Brunchfast menu.