Barclays Issues Pessimistic Forecast for Jack in the Box (NASDAQ:JACK) Stock Price

Jack in the Box (NASDAQ:JACK - Get Free Report) had its target price cut by analysts at Barclays from $40.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the restaurant operator's stock. Barclays's target price points to a potential downside of 2.24% from the company's previous close.

A number of other brokerages have also recently issued reports on JACK. Robert W. Baird cut their price objective on Jack in the Box from $34.00 to $25.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Stifel Nicolaus reduced their price target on shares of Jack in the Box from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Monday, March 24th. Truist Financial dropped their price objective on shares of Jack in the Box from $57.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Oppenheimer cut their target price on shares of Jack in the Box from $60.00 to $52.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reduced their price objective on Jack in the Box from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Jack in the Box currently has a consensus rating of "Hold" and a consensus target price of $44.78.

Jack in the Box Price Performance

Shares of JACK traded up $0.58 on Tuesday, reaching $24.55. 350,497 shares of the stock traded hands, compared to its average volume of 648,499. The firm has a market cap of $462.98 million, a price-to-earnings ratio of -12.60, a P/E/G ratio of 1.29 and a beta of 1.81. The stock's 50-day moving average price is $30.22 and its 200-day moving average price is $39.09. Jack in the Box has a 12 month low of $22.01 and a 12 month high of $60.73.

Jack in the Box (NASDAQ:JACK - Get Free Report) last issued its earnings results on Tuesday, February 25th. The restaurant operator reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.21. The business had revenue of $469.44 million for the quarter, compared to analyst estimates of $470.47 million. Jack in the Box had a negative net margin of 2.34% and a negative return on equity of 15.79%. As a group, equities research analysts forecast that Jack in the Box will post 5.33 earnings per share for the current fiscal year.

Institutional Trading of Jack in the Box

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Jack in the Box by 3.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 738,297 shares of the restaurant operator's stock worth $30,244,000 after purchasing an additional 25,881 shares during the period. IPG Investment Advisors LLC grew its position in shares of Jack in the Box by 59.2% during the 4th quarter. IPG Investment Advisors LLC now owns 440,619 shares of the restaurant operator's stock worth $18,347,000 after buying an additional 163,834 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Jack in the Box by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,361 shares of the restaurant operator's stock valued at $18,170,000 after acquiring an additional 47,851 shares during the last quarter. Invenomic Capital Management LP raised its position in shares of Jack in the Box by 40.7% in the 4th quarter. Invenomic Capital Management LP now owns 356,757 shares of the restaurant operator's stock valued at $14,855,000 after acquiring an additional 103,176 shares during the period. Finally, Northern Trust Corp boosted its stake in Jack in the Box by 10.7% during the 4th quarter. Northern Trust Corp now owns 219,189 shares of the restaurant operator's stock worth $9,127,000 after acquiring an additional 21,182 shares during the last quarter. Institutional investors own 99.79% of the company's stock.

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.