Jack in the Box (NASDAQ:JACK) Given New $60.00 Price Target at Guggenheim

Jack in the Box (NASDAQ:JACK) had its target price reduced by Guggenheim from $95.00 to $60.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Guggenheim’s target price suggests a potential upside of 33.48% from the company’s current price.

JACK has been the subject of a number of other reports. Loop Capital decreased their target price on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, October 14th. StockNews.com lowered Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Oppenheimer dropped their target price on shares of Jack in the Box from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Truist Financial reduced their price target on shares of Jack in the Box from $83.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Jack in the Box in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine 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 price target of $62.65.

Jack in the Box Price Performance

JACK traded down $1.08 during mid-day trading on Wednesday, hitting $44.95. The stock had a trading volume of 90,245 shares, compared to its average volume of 507,568. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20. The firm has a market capitalization of $859.71 million, a price-to-earnings ratio of -22.70, a price-to-earnings-growth ratio of 0.70 and a beta of 1.93. The stock’s fifty day simple moving average is $46.12 and its 200-day simple moving average is $50.32.

Insider Activity

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $48.66, for a total transaction of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares in the company, valued at approximately $642,360.66. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JACK. UniSuper Management Pty Ltd bought a new position in Jack in the Box during the first quarter worth $425,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Jack in the Box by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock worth $1,265,000 after buying an additional 790 shares during the period. MQS Management LLC acquired a new position in Jack in the Box in the 1st quarter valued at about $260,000. EntryPoint Capital LLC grew its stake in Jack in the Box by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after buying an additional 366 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Jack in the Box by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,914 shares of the restaurant operator’s stock valued at $1,090,000 after acquiring an additional 644 shares during the period. 99.79% of the stock is currently owned by institutional investors.

Jack in the Box Company Profile

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.