Jack In The Box (NASDAQ:JACK) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Jack In The Box from “hold” to “strong sell,” while the broader analyst consensus remains “Hold” with a $17.22 price target.
• Shares opened at $13.46, down 1.8%, with the stock trading below its 50-day moving average; its market capitalization is approximately $258 million.
• The latest quarter showed mixed results: earnings per share of $0.96 exceeded estimates, but revenue of $257.66 million missed expectations and fell 22.6% year over year.

Jack In The Box (NASDAQ:JACK - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday, Zacks reports.

A number of other brokerages also recently commented on JACK. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $16.00 price objective on shares of Jack In The Box in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Jack In The Box from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group lifted their target price on shares of Jack In The Box from $14.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Weiss Ratings restated a "sell (d)" rating on shares of Jack In The Box in a report on Tuesday, August 11th. Finally, Mizuho upped their price target on shares of Jack In The Box from $13.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Jack In The Box currently has an average rating of "Hold" and a consensus price target of $17.22.

Jack In The Box Trading Down 1.8%

Shares of Jack In The Box stock opened at $13.46 on Monday. The stock has a 50-day moving average price of $15.72 and a 200 day moving average price of $13.74. The company has a market cap of $258.15 million, a P/E ratio of 7.78, a P/E/G ratio of 0.82 and a beta of 1.38. Jack In The Box has a 1 year low of $8.91 and a 1 year high of $23.86.

Jack In The Box (NASDAQ:JACK - Get Free Report) last released its earnings results on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. The company had revenue of $257.66 million for the quarter, compared to analysts' expectations of $264.60 million. Jack In The Box had a negative return on equity of 6.33% and a net margin of 2.84%.The business's revenue for the quarter was down 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 EPS. On average, equities analysts forecast that Jack In The Box will post 3.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JACK. Legal & General Group Plc acquired a new position in Jack In The Box in the 2nd quarter valued at $30,000. Public Employees Retirement System of Ohio acquired a new stake in Jack In The Box during the second quarter worth about $48,000. Versant Capital Management Inc increased its position in shares of Jack In The Box by 106.7% during the second quarter. Versant Capital Management Inc now owns 6,107 shares of the restaurant operator's stock valued at $97,000 after purchasing an additional 3,152 shares during the period. Bank of Nova Scotia bought a new stake in Jack In The Box in the 1st quarter valued at $102,000. Finally, GSA Capital Partners LLP acquired a new position in Jack In The Box in the second quarter worth about $254,000. 99.79% of the stock is owned by institutional investors.

About Jack In The Box

Jack in the Box NASDAQ: JACK is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.

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