Barclays has cut its price target for Jack in the Box (NASDAQ) from $57.00 to $46.00, as reported on Tuesday by Benzinga.
The bank maintains an equal weight rating on the restaurant operator’s stock.
Other analysts have also revised their expectations for Jack in the Box. Goldman Sachs reduced its target from $55.00 to $47.00 and assigned a “sell” rating on Monday. UBS Group lowered its price objective from $55.00 to $50.00, maintaining a “neutral” rating as of October 4. Royal Bank of Canada cut its target from $75.00 to $70.00, keeping an “outperform” rating since August 7. Morgan Stanley decreased its target from $70.00 to $60.00, while also maintaining an “equal weight” rating on July 16. Lastly, Deutsche Bank reduced its target from $59.00 to $56.00, advising a “hold” rating on August 7.
Currently, two analysts rate the stock as a “sell,” eight as “hold,” and seven as “buy,” giving Jack in the Box an overall consensus rating of “Hold” and an average target price of $64.25.
On Tuesday, Jack in the Box shares fell by $0.95, trading at $44.51. The company saw a trading volume of 348,627 shares, lower than its average volume of 503,042. Jack in the Box has a market capitalization of $863.05 million, a price-to-earnings ratio of 7.82, a P/E/G ratio of 0.63, and a beta of 1.94. Its 50-day moving average is $46.98, while its 200-day moving average stands at $51.94. The stock’s price has ranged from a low of $40.84 to a high of $86.20 over the past year.
Jack in the Box recently reported its quarterly earnings on August 6. The company posted earnings of $1.65 per share, surpassing analysts’ expectations of $1.51 by $0.14. However, it experienced a net margin of -2.30% and a return on equity of -16.46%. Revenue for the quarter reached $369.17 million, slightly below the expected $371.81 million. This marks a 7% decline compared to the same period last year. Analysts forecast that Jack in the Box will report an EPS of 6.22 for the current year.
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