Short Interest in Jack In The Box Inc. (NASDAQ:JACK) Grows By 19.2%
by Kim Johansen · The Markets DailyJack In The Box Inc. (NASDAQ:JACK – Get Free Report) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 5,273,673 shares, a growth of 19.2% from the February 26th total of 4,423,786 shares. Based on an average daily volume of 895,763 shares, the days-to-cover ratio is presently 5.9 days. Approximately 28.1% of the shares of the stock are sold short.
Jack In The Box Trading Up 2.7%
Shares of JACK stock traded up $0.26 on Tuesday, reaching $9.66. The company’s stock had a trading volume of 1,729,470 shares, compared to its average volume of 959,755. The stock’s fifty day simple moving average is $16.81 and its 200-day simple moving average is $18.08. Jack In The Box has a 1 year low of $8.91 and a 1 year high of $29.40. The company has a market capitalization of $183.83 million, a price-to-earnings ratio of -1.57, a price-to-earnings-growth ratio of 0.49 and a beta of 1.16.
Jack In The Box (NASDAQ:JACK – Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The restaurant operator reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). Jack In The Box had a negative net margin of 8.69% and a negative return on equity of 7.12%. The business had revenue of $349.52 million for the quarter, compared to analysts’ expectations of $355.73 million. During the same period in the previous year, the company earned $1.86 EPS. Jack In The Box’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts forecast that Jack In The Box will post 5.33 earnings per share for the current year.
Insider Transactions at Jack In The Box
In other Jack In The Box news, CEO Lance F. Tucker sold 3,150 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $21.83, for a total transaction of $68,764.50. Following the completion of the sale, the chief executive officer directly owned 204,068 shares of the company’s stock, valued at $4,454,804.44. This trade represents a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Jack In The Box
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of Jack In The Box by 5.9% in the 1st quarter. Royal Bank of Canada now owns 12,035 shares of the restaurant operator’s stock worth $327,000 after purchasing an additional 671 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Jack In The Box by 206.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 5,967 shares of the restaurant operator’s stock valued at $162,000 after buying an additional 11,567 shares during the period. Woodline Partners LP lifted its position in Jack In The Box by 63.8% in the first quarter. Woodline Partners LP now owns 167,184 shares of the restaurant operator’s stock worth $4,546,000 after buying an additional 65,142 shares during the last quarter. GAMMA Investing LLC lifted its position in Jack In The Box by 165.5% in the third quarter. GAMMA Investing LLC now owns 1,341 shares of the restaurant operator’s stock worth $27,000 after buying an additional 836 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in Jack In The Box during the third quarter worth $65,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on JACK. The Goldman Sachs Group raised their target price on shares of Jack In The Box from $15.00 to $17.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Citigroup boosted their price target on shares of Jack In The Box from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. UBS Group raised their price objective on Jack In The Box from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Stifel Nicolaus reduced their target price on Jack In The Box from $18.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Truist Financial boosted their target price on Jack In The Box from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.28.
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.