Jack in the Box Inc. (NASDAQ:JACK – Get Rating) – Research analysts at Oppenheimer reduced their FY2023 earnings estimates for Jack in the Box in a report issued on Monday, May 23rd. Oppenheimer analyst B. Bittner now expects that the restaurant operator will post earnings of $6.87 per share for the year, down from their previous forecast of $7.50. Oppenheimer has a “Outperform” rating and a $107.00 price objective on the stock.

Jack in the Box (NASDAQ:JACK – Get Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The restaurant operator reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.05. The firm had revenue of $344.70 million during the quarter, compared to analysts’ expectations of $345.88 million. Jack in the Box had a net margin of 13.41% and a negative return on equity of 19.33%. Jack in the Box’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS.

JACK has been the subject of several other research reports. Zacks Investment Research upgraded shares of Jack in the Box from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Tuesday, April 26th. Cowen decreased their price target on shares of Jack in the Box from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, February 7th. Robert W. Baird boosted their price target on shares of Jack in the Box from $84.00 to $92.00 in a report on Thursday, February 24th. StockNews.com started coverage on shares of Jack in the Box in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Citigroup started coverage on shares of Jack in the Box in a report on Tuesday, April 12th. They issued a “neutral” rating and a $104.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $107.77.

Shares of Jack in the Box stock opened at $70.94 on Thursday. The firm has a fifty day moving average of $85.14 and a two-hundred day moving average of $87.32. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.65 and a beta of 1.70. Jack in the Box has a 52 week low of $68.29 and a 52 week high of $122.70.

Several hedge funds have recently modified their holdings of JACK. First Trust Advisors LP raised its holdings in shares of Jack in the Box by 794.0% in the 1st quarter. First Trust Advisors LP now owns 23,137 shares of the restaurant operator’s stock valued at $1,875,000 after purchasing an additional 20,549 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Jack in the Box by 87.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,506 shares of the restaurant operator’s stock valued at $365,000 after purchasing an additional 2,100 shares during the period. Morgan Stanley raised its holdings in shares of Jack in the Box by 4.1% in the 2nd quarter. Morgan Stanley now owns 70,435 shares of the restaurant operator’s stock valued at $7,849,000 after purchasing an additional 2,774 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of Jack in the Box by 2.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,897 shares of the restaurant operator’s stock valued at $574,000 after purchasing an additional 114 shares during the period. Finally, Barclays PLC raised its holdings in shares of Jack in the Box by 1.3% in the 3rd quarter. Barclays PLC now owns 21,030 shares of the restaurant operator’s stock valued at $2,046,000 after purchasing an additional 276 shares during the period. 99.09% of the stock is currently owned by institutional investors.

In other news, Director Michael W. Murphy sold 859 shares of the stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $83.11, for a total transaction of $71,391.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

About Jack in the Box (Get Rating)

Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of November 23, 2021, it operated and franchised approximately 2,200 Jack in the Box quick-service restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.

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