Jack In The Box (NASDAQ:JACK) Stock Price Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Jack In The Box shares fell below their 200-day moving average of $14.34, trading as low as $14.03 and last at $14.07; the stock was down 3.0%.
• Analyst views remain cautious: two analysts rate the stock Buy, 12 Hold and three Sell, giving it an average “Reduce” rating and a consensus price target of $16.83.
• In its latest quarter, the company beat earnings estimates with EPS of $0.96 versus $0.88 expected, but revenue of $257.66 million missed estimates and fell 22.6% year over year.

Jack In The Box Inc. (NASDAQ:JACK - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $14.34 and traded as low as $14.03. Jack In The Box shares last traded at $14.07, with a volume of 277,327 shares.

Analyst Ratings Changes

A number of brokerages have commented on JACK. Morgan Stanley decreased their price objective on Jack In The Box from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Thursday, October 15th. Citigroup lifted their target price on Jack In The Box from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Wall Street Zen upgraded Jack In The Box from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Mizuho increased 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 report on Thursday, August 13th. Finally, Deutsche Bank restated a "hold" rating and set a $16.00 price target on shares of Jack In The Box in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $16.83.

Jack In The Box Trading Down 3.0%

The firm has a market capitalization of $269.86 million, a PE ratio of 8.13, a PEG ratio of 0.90 and a beta of 1.43. The firm's fifty day moving average price is $13.20 and its 200 day moving average price is $14.34.

Jack In The Box (NASDAQ:JACK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. The business had revenue of $257.66 million during the quarter, compared to analyst estimates of $264.60 million. Jack In The Box had a negative return on equity of 6.33% and a net margin of 2.84%. Jack In The Box's quarterly revenue was down 22.6% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. As a group, research analysts expect that Jack In The Box Inc. will post 3.13 EPS for the current year.

Institutional Investors Weigh In On Jack In The Box

Hedge funds and other institutional investors have recently made changes to their positions in the company. Biglari Sardar bought a new stake in shares of Jack In The Box in the 2nd quarter valued at approximately $3,171,755. Bank of America Corp DE acquired a new position in Jack In The Box in the second quarter worth approximately $18,409,000. BlackRock Inc. acquired a new position in Jack In The Box in the second quarter worth approximately $21,222,000. Bank of New York Mellon Corp bought a new position in Jack In The Box during the second quarter valued at approximately $1,709,000. Finally, Biglari Capital CORP. bought a new position in Jack In The Box during the second quarter valued at approximately $26,618,538. 99.79% of the stock is owned by hedge funds and other 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.

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