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

Jack in the Box (NASDAQ:JACK) had its target price dropped by stock analysts at Oppenheimer from $70.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Oppenheimer’s target price suggests a potential upside of 29.56% from the stock’s current price.

Other analysts have also issued research reports about the stock. Bank of America lifted their target price on shares of Jack in the Box from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Truist Financial lowered their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Jack in the Box in a report on Monday, November 4th. Piper Sandler decreased their price target on shares of Jack in the Box from $56.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Wedbush decreased their price target on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.44.

Jack in the Box Price Performance

Shares of NASDAQ:JACK traded down $0.10 during trading on Friday, reaching $46.31. The stock had a trading volume of 122,336 shares, compared to its average volume of 503,796. Jack in the Box has a 52 week low of $40.84 and a 52 week high of $86.20. The business’s 50-day moving average price is $46.03 and its 200 day moving average price is $50.61. The stock has a market capitalization of $885.73 million, a PE ratio of -23.25, a P/E/G ratio of 0.70 and a beta of 1.93.

Insider Activity at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Jack in the Box

Large investors have recently modified their holdings of the company. EntryPoint Capital LLC increased its position in shares of Jack in the Box by 73.2% during the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock worth $59,000 after buying an additional 366 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Jack in the Box in the third quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Jack in the Box by 172.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,140 shares of the restaurant operator’s stock worth $100,000 after purchasing an additional 1,354 shares during the period. MQS Management LLC acquired a new stake in Jack in the Box in the first quarter worth $260,000. Finally, SG Americas Securities LLC acquired a new stake in Jack in the Box in the third quarter worth $185,000. 99.79% of the stock is currently owned by institutional investors and hedge funds.

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.