Jack in the Box Inc. (NASDAQ:JACK) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 3,760,000 shares, a decrease of 8.1% from the August 30th total of 4,090,000 shares. Based on an average daily trading volume, of 507,900 shares, the days-to-cover ratio is presently 7.4 days. Approximately 14.9% of the shares of the stock are short sold.
In other news, CEO Leonard A. Comma sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $92.00, for a total transaction of $276,000.00. Following the transaction, the chief executive officer now owns 180,552 shares of the company’s stock, valued at approximately $16,610,784. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Phillip H. Rudolph sold 6,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $86.16, for a total transaction of $516,960.00. Following the transaction, the executive vice president now directly owns 26,097 shares in the company, valued at approximately $2,248,517.52. The disclosure for this sale can be found here. Insiders have sold 41,080 shares of company stock valued at $3,614,820 in the last ninety days. Insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wedbush Securities Inc. purchased a new stake in shares of Jack in the Box during the third quarter worth approximately $209,000. Envestnet Asset Management Inc. increased its stake in shares of Jack in the Box by 21.1% during the third quarter. Envestnet Asset Management Inc. now owns 3,527 shares of the restaurant operator’s stock worth $321,000 after buying an additional 615 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Jack in the Box during the third quarter worth approximately $761,000. Cerebellum GP LLC increased its stake in Jack in the Box by 17.0% in the third quarter. Cerebellum GP LLC now owns 4,946 shares of the restaurant operator’s stock valued at $451,000 after purchasing an additional 719 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Jack in the Box in the third quarter valued at approximately $416,000.
JACK has been the topic of several recent research reports. Telsey Advisory Group boosted their price target on shares of Jack in the Box from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Wedbush raised shares of Jack in the Box from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $75.00 to $105.00 in a research report on Friday, August 9th. Morgan Stanley set a $89.00 price target on shares of Jack in the Box and gave the company a “hold” rating in a research report on Friday, August 9th. Goldman Sachs Group initiated coverage on shares of Jack in the Box in a research report on Monday, July 29th. They set a “sell” rating and a $69.00 price target on the stock. Finally, Credit Suisse Group boosted their price target on shares of Jack in the Box from $75.00 to $78.00 and gave the company an “underperform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Jack in the Box presently has an average rating of “Hold” and an average price target of $92.92.
NASDAQ JACK traded down $0.26 during trading hours on Thursday, reaching $86.34. The company had a trading volume of 275,800 shares, compared to its average volume of 536,703. The stock has a 50-day moving average of $89.04 and a 200 day moving average of $82.80. Jack in the Box has a 1-year low of $70.77 and a 1-year high of $93.12. The stock has a market capitalization of $2.24 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.42 and a beta of 0.28.
Jack in the Box (NASDAQ:JACK) last posted its earnings results on Wednesday, August 7th. The restaurant operator reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Jack in the Box had a net margin of 9.78% and a negative return on equity of 18.59%. The company had revenue of $222.36 million for the quarter, compared to analysts’ expectations of $220.44 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. Jack in the Box’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, research analysts forecast that Jack in the Box will post 4.36 EPS for the current fiscal year.
Jack in the Box Company Profile
Jack in the Box Inc operates and franchises Jack in the Box quick-service restaurants. As of March 19, 2019, it operated and franchised approximately 2,200 Jack in the Box restaurants in 21 states and Guam. The company was founded in 1951 and is headquartered in San Diego, California.
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