Jack in the Box (NASDAQ:JACK) Downgraded by Truist Financial to "Hold"

Truist Financial downgraded shares of Jack in the Box (NASDAQ:JACK - Free Report) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. Truist Financial currently has $22.00 price objective on the restaurant operator's stock, down from their previous price objective of $51.00.

Other analysts have also issued research reports about the company. Sanford C. Bernstein set a $24.00 target price on Jack in the Box in a report on Tuesday, April 22nd. Loop Capital reduced their target price on 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. Guggenheim reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Jack in the Box in a report on Thursday, February 27th. Wall Street Zen upgraded Jack in the Box from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus set a $32.00 target price on Jack in the Box and gave the company a "buy" rating in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $39.79.

Jack in the Box Price Performance

Shares of NASDAQ:JACK traded down $0.40 during trading on Tuesday, reaching $19.15. 1,047,973 shares of the company were exchanged, compared to its average volume of 678,175. The business's fifty day simple moving average is $24.52 and its 200-day simple moving average is $34.91. The firm has a market capitalization of $361.53 million, a PE ratio of -9.82, a P/E/G ratio of 1.29 and a beta of 1.35. Jack in the Box has a 12-month low of $18.95 and a 12-month high of $60.73.

Jack in the Box (NASDAQ:JACK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The restaurant operator reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.07. Jack in the Box had a negative return on equity of 15.79% and a negative net margin of 2.34%. The business had revenue of $336.70 million for the quarter, compared to the consensus estimate of $345.81 million. During the same quarter in the prior year, the company earned $1.46 EPS. The business's revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Jack in the Box will post 5.33 EPS for the current fiscal year.

Jack in the Box Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Stockholders of record on Thursday, March 20th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 9.19%. Jack in the Box's dividend payout ratio is currently -16.21%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bayforest Capital Ltd purchased a new stake in shares of Jack in the Box in the 1st quarter valued at approximately $618,000. Woodline Partners LP grew its position in Jack in the Box by 63.8% in the 1st quarter. Woodline Partners LP now owns 167,184 shares of the restaurant operator's stock valued at $4,546,000 after acquiring an additional 65,142 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Jack in the Box in the first quarter valued at approximately $368,000. Seven Six Capital Management LLC grew its holdings in shares of Jack in the Box by 64.3% in the first quarter. Seven Six Capital Management LLC now owns 126,200 shares of the restaurant operator's stock valued at $3,431,000 after purchasing an additional 49,400 shares in the last quarter. Finally, Invenomic Capital Management LP increased its stake in Jack in the Box by 43.5% during the 1st quarter. Invenomic Capital Management LP now owns 511,954 shares of the restaurant operator's stock worth $13,920,000 after buying an additional 155,197 shares during the period. 99.79% of the stock is currently owned by hedge funds and other 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.