Oppenheimer Lowers Jack in the Box (NASDAQ:JACK) Price Target to $60.00

Jack in the Box (NASDAQ:JACK) had its target price cut by Oppenheimer from $70.00 to $60.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

A number of other analysts have also commented on JACK. Wedbush lowered their target price on shares of Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. StockNews.com cut shares of Jack in the Box from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Loop Capital lowered their price target on Jack in the Box from $87.00 to $70.00 and set a “buy” rating for the company in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price objective on shares of Jack in the Box in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Jack in the Box from $59.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jack in the Box currently has a consensus rating of “Hold” and a consensus price target of $63.44.

Jack in the Box Trading Down 3.6 %

Shares of NASDAQ JACK opened at $44.76 on Friday. The firm has a market capitalization of $856.26 million, a PE ratio of -22.49, a price-to-earnings-growth ratio of 0.70 and a beta of 1.93. The firm’s 50-day moving average is $46.00 and its 200-day moving average is $50.44. Jack in the Box has a 1 year low of $40.84 and a 1 year high of $86.20.

Jack in the Box Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Friday, August 30th. Jack in the Box’s payout ratio is -88.44%.

Insider Activity at Jack in the Box

In other news, CFO Brian M. Scott sold 696 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the sale, the chief financial officer now owns 13,201 shares of the company’s stock, valued at approximately $642,360.66. This represents a 5.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Trading of Jack in the Box

Several institutional investors and hedge funds have recently added to or reduced their stakes in JACK. BNP Paribas Financial Markets increased its stake in shares of Jack in the Box by 6.3% during the 1st quarter. BNP Paribas Financial Markets now owns 17,581 shares of the restaurant operator’s stock worth $1,204,000 after purchasing an additional 1,039 shares during the last quarter. Seven Eight Capital LP acquired a new position in Jack in the Box during the first quarter worth approximately $1,096,000. UniSuper Management Pty Ltd bought a new stake in Jack in the Box in the first quarter valued at approximately $425,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Jack in the Box by 4.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 18,486 shares of the restaurant operator’s stock valued at $1,265,000 after buying an additional 790 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Jack in the Box during the 1st quarter worth approximately $260,000. 99.79% of the stock is owned by institutional investors.

About Jack in the Box

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.