Jack in the Box (NASDAQ:JACK) Downgraded by Northcoast Research to Sell

Northcoast Research downgraded shares of Jack in the Box (NASDAQ:JACK) from a neutral rating to a sell rating in a report issued on Monday morning, Marketbeat reports. Northcoast Research currently has $20.00 price objective on the restaurant operator’s stock.

A number of other brokerages have also recently issued reports on JACK. Loop Capital dropped their price objective on shares of Jack in the Box from $65.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, May 15th. Sanford C. Bernstein set a $24.00 target price on shares of Jack in the Box in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $32.00 target price on shares of Jack in the Box and gave the stock a “buy” rating in a research report on Monday, April 28th. Truist Financial dropped their target price on shares of Jack in the Box from $57.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, TD Securities reiterated a “hold” rating and set a $31.00 target price on shares of Jack in the Box in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.32.

Jack in the Box Trading Down 7.5%

NASDAQ:JACK opened at $21.97 on Monday. The company has a market capitalization of $414.77 million, a P/E ratio of -11.27, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. Jack in the Box has a twelve month low of $21.96 and a twelve month high of $60.73. The firm has a 50-day moving average price of $26.44 and a two-hundred day moving average price of $36.51.

Jack in the Box (NASDAQ:JACK) last announced its quarterly earnings results on Wednesday, May 14th. The restaurant operator reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $336.70 million for the quarter, compared to analysts’ expectations of $345.81 million. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. Jack in the Box’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. On average, equities research analysts predict that Jack in the Box will post 5.33 earnings per share for the current year.

Jack in the Box Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date was Thursday, March 20th. Jack in the Box’s dividend payout ratio is presently -16.21%.

Hedge Funds Weigh In On Jack in the Box

A number of institutional investors and hedge funds have recently modified their holdings of JACK. Quadrant Capital Group LLC lifted its holdings in shares of Jack in the Box by 96.7% in the 4th quarter. Quadrant Capital Group LLC now owns 899 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 442 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Jack in the Box in the 4th quarter worth $40,000. Signaturefd LLC lifted its holdings in shares of Jack in the Box by 1,973.4% in the 1st quarter. Signaturefd LLC now owns 1,638 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 1,559 shares in the last quarter. KBC Group NV lifted its holdings in shares of Jack in the Box by 99.5% in the 4th quarter. KBC Group NV now owns 1,235 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 616 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Jack in the Box by 7,023.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,137 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 2,107 shares during the last quarter. 99.79% 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 and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.