Key Points
- Insider sale: SVP Richard Cook sold 1,787 shares on Dec. 3 at an average price of $19.08 for about $34,096, reducing his stake by 6.17% to 27,193 shares; the trade was disclosed in an SEC Form 4 filing.
- Weak quarterly results: Jack In The Box missed Q earnings (EPS $0.30 vs. $0.46 expected), posted negative ROE and net margin, and saw revenue fall 6.6% year-over-year, while the stock trades around $19.59 with a market cap of roughly $370 million.
- Mixed analyst and institutional picture: The consensus rating is "Hold" with a $23.90 target amid recent downgrades and lower targets from some banks, even as institutional ownership is very high (about 99.79%) and several funds have recently increased positions.
Jack In The Box Inc. (NASDAQ:JACK - Get Free Report) SVP Steven Piano sold 1,491 shares of the company's stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $19.08, for a total value of $28,448.28. Following the completion of the transaction, the senior vice president directly owned 27,053 shares of the company's stock, valued at approximately $516,171.24. The trade was a 5.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Jack In The Box Stock Performance
Shares of Jack In The Box stock traded down $0.61 on Thursday, hitting $19.26. The stock had a trading volume of 29,660 shares, compared to its average volume of 1,047,343. The stock has a 50 day moving average of $17.67 and a 200 day moving average of $18.95. The firm has a market capitalization of $363.88 million, a P/E ratio of -4.54, a PEG ratio of 0.97 and a beta of 1.13. Jack In The Box Inc. has a twelve month low of $13.99 and a twelve month high of $50.45.
Jack In The Box (NASDAQ:JACK - Get Free Report) last released its quarterly earnings results on Wednesday, November 19th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.16). Jack In The Box had a negative net margin of 5.51% and a negative return on equity of 9.23%. The business had revenue of $326.19 million for the quarter, compared to the consensus estimate of $324.23 million. During the same period in the previous year, the business posted $1.16 EPS. Jack In The Box's revenue was down 6.6% on a year-over-year basis. Equities analysts expect that Jack In The Box Inc. will post 5.33 earnings per share for the current year.
Institutional Investors Weigh In On Jack In The Box
A number of large investors have recently bought and sold shares of JACK. XTX Topco Ltd boosted its position in shares of Jack In The Box by 22.5% during the 3rd quarter. XTX Topco Ltd now owns 54,162 shares of the restaurant operator's stock worth $1,071,000 after purchasing an additional 9,933 shares in the last quarter. Millennium Management LLC grew its stake in Jack In The Box by 535.1% in the third quarter. Millennium Management LLC now owns 152,138 shares of the restaurant operator's stock valued at $3,008,000 after acquiring an additional 128,182 shares during the period. Earnest Partners LLC increased its holdings in shares of Jack In The Box by 5.9% during the third quarter. Earnest Partners LLC now owns 312,842 shares of the restaurant operator's stock valued at $6,185,000 after acquiring an additional 17,300 shares in the last quarter. Brevan Howard Capital Management LP raised its position in shares of Jack In The Box by 38.8% during the third quarter. Brevan Howard Capital Management LP now owns 45,557 shares of the restaurant operator's stock worth $901,000 after purchasing an additional 12,731 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Jack In The Box by 519.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 241,444 shares of the restaurant operator's stock worth $4,773,000 after purchasing an additional 202,469 shares in the last quarter. 99.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on JACK. Bank of America initiated coverage on Jack In The Box in a research note on Monday, October 13th. They issued a "buy" rating and a $22.00 price objective on the stock. Oppenheimer dropped their price target on shares of Jack In The Box from $28.00 to $24.00 and set an "outperform" rating on the stock in a research report on Thursday, November 20th. The Goldman Sachs Group reduced their price objective on shares of Jack In The Box from $17.00 to $15.00 and set a "sell" rating on the stock in a research note on Thursday, November 20th. Morgan Stanley set a $20.00 target price on shares of Jack In The Box in a research note on Tuesday, October 21st. Finally, Cowen set a $16.00 target price on shares of Jack In The Box in a report on Thursday, November 20th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.90.
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Jack In The Box Company Profile
(
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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.
Further Reading
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