Mizuho Forecasts Strong Price Appreciation for Jack In The Box (NASDAQ:JACK) Stock

Jack In The Box (NASDAQ:JACK) had its price target hoisted by Mizuho from $11.00 to $13.00 in a research report issued on Thursday, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Mizuho’s target price points to a potential upside of 19.60% from the stock’s current price.

Several other brokerages have also recently weighed in on JACK. Sanford C. Bernstein set a $15.00 price target on Jack In The Box in a research report on Thursday. TD Cowen decreased their price target on Jack In The Box from $16.00 to $12.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. Zacks Research upgraded Jack In The Box from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Piper Sandler upped their price target on Jack In The Box from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Finally, Wall Street Zen upgraded Jack In The Box from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.09.

Jack In The Box Stock Performance

Shares of Jack In The Box stock opened at $10.87 on Thursday. Jack In The Box has a 52-week low of $8.91 and a 52-week high of $25.34. The stock’s 50-day simple moving average is $12.12 and its 200 day simple moving average is $16.65. The stock has a market capitalization of $207.29 million, a P/E ratio of 5.88, a P/E/G ratio of 0.62 and a beta of 1.45.

Jack In The Box (NASDAQ:JACK) last announced its quarterly earnings results on Wednesday, May 13th. The restaurant operator reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Jack In The Box had a negative return on equity of 6.34% and a net margin of 2.82%.The firm had revenue of $254.26 million for the quarter, compared to analysts’ expectations of $256.55 million. During the same period in the prior year, the business posted $1.20 earnings per share. The company’s revenue was down 24.5% on a year-over-year basis. Equities research analysts forecast that Jack In The Box will post 3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JACK. Marshall Wace LLP grew its holdings in shares of Jack In The Box by 192.9% during the third quarter. Marshall Wace LLP now owns 744,141 shares of the restaurant operator’s stock worth $14,712,000 after purchasing an additional 490,071 shares in the last quarter. Windward Management LP purchased a new position in shares of Jack In The Box during the fourth quarter worth about $7,394,000. Janus Henderson Group PLC purchased a new position in shares of Jack In The Box during the fourth quarter worth about $5,591,000. Nantahala Capital Management LLC grew its holdings in shares of Jack In The Box by 44.3% during the fourth quarter. Nantahala Capital Management LLC now owns 865,990 shares of the restaurant operator’s stock worth $16,411,000 after purchasing an additional 265,990 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of Jack In The Box during the fourth quarter worth about $4,268,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack In The Box Company Profile

Jack in the Box (NASDAQ: JACK) is a publicly traded quick-service restaurant company best known for its Jack in the Box brand of fast-food restaurants. Founded in 1951 by Robert O. Peterson and headquartered in San Diego, California, the company has operated for decades as a franchisor and operator of drive-thru and dine-in restaurants. Its business model combines company-owned locations with franchise arrangements, and the company focuses on building brand recognition through menu innovation, marketing and service convenience.

The company’s core offerings center on a broad fast-food menu that includes hamburgers (notably the Jumbo Jack), tacos, breakfast items, sandwiches, salads, sides and specialty limited-time items.