Engineers Gate Manager LP Has $1.24 Million Stake in Jack In The Box Inc. $JACK

Key Points

• Engineers Gate Manager LP cut its Jack In The Box stake by 58.6% in the second quarter, selling 111,404 shares and retaining 78,551 shares worth approximately $1.24 million. Institutional investors collectively own 99.79% of the company.
• Jack In The Box beat quarterly earnings expectations with $0.96 EPS versus an $0.88 estimate, but revenue fell 22.6% year over year to $257.66 million, below analysts’ expectations.
• The stock opened at $13.25, while analysts maintain a consensus “Hold” rating and an average price target of $17.22; the latest target revisions ranged from $16 to $22.

Engineers Gate Manager LP reduced its stake in shares of Jack In The Box Inc. (NASDAQ:JACK - Free Report) by 58.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,551 shares of the restaurant operator's stock after selling 111,404 shares during the quarter. Engineers Gate Manager LP owned about 0.41% of Jack In The Box worth $1,242,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of JACK. Allworth Financial LP boosted its position in Jack In The Box by 322.6% in the 4th quarter. Allworth Financial LP now owns 1,475 shares of the restaurant operator's stock valued at $28,000 after buying an additional 1,126 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Jack In The Box in the 2nd quarter valued at about $30,000. Public Employees Retirement System of Ohio bought a new position in shares of Jack In The Box in the 2nd quarter valued at about $48,000. Versant Capital Management Inc lifted its holdings in Jack In The Box by 106.7% in the second quarter. Versant Capital Management Inc now owns 6,107 shares of the restaurant operator's stock valued at $97,000 after buying an additional 3,152 shares during the period. Finally, Bank of Nova Scotia acquired a new position in Jack In The Box in the first quarter valued at approximately $102,000. Institutional investors own 99.79% of the company's stock.

Jack In The Box Stock Performance

Shares of JACK stock opened at $13.25 on Friday. The company has a market capitalization of $254.12 million, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. The company's 50 day moving average price is $16.00 and its two-hundred day moving average price is $13.81. Jack In The Box Inc. has a 52 week low of $8.91 and a 52 week high of $23.86.

Jack In The Box (NASDAQ:JACK - Get Free Report) last released its quarterly 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. Jack In The Box had a net margin of 2.84% and a negative return on equity of 6.33%. The company had revenue of $257.66 million during the quarter, compared to analysts' expectations of $264.60 million. During the same quarter in the prior year, the company earned $1.02 earnings per share. The business's quarterly revenue was down 22.6% compared to the same quarter last year. Analysts forecast that Jack In The Box Inc. will post 3.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JACK. Mizuho lifted their target price on shares of Jack In The Box from $13.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Citigroup boosted their target price on Jack In The Box from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. UBS Group upped their price target on 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. Royal Bank Of Canada increased their price target on shares of Jack In The Box from $16.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Jack In The Box in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Jack In The Box has a consensus rating of "Hold" and an average price target of $17.22.

Jack In The Box Company Profile

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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