Wedbush Issues a Buy Rating on Jack In The Box Inc

By Ryan Adsit

In a report released today, Nick Setyan from Wedbush assigned a Buy rating to Jack In The Box Inc (NASDAQ: JACK), with a price target of $115. The company’s shares opened today at $87.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 7.1% and a 61.8% success rate. Setyan covers the Services sector, focusing on stocks such as Del Taco Restaurants, Cheesecake Factory, and Habit Restaurants.

Currently, the analyst consensus on Jack In The Box Inc is Moderate Buy and the average price target is $101.89, representing a 17.1% upside.

In a report issued on May 10, Oppenheimer also reiterated a Buy rating on the stock with a $115 price target.

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Based on Jack In The Box Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $12.19 million. In comparison, last year the company had a net profit of $33.09 million.

Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock.

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Jack in the Box, Inc. engages in operating and franchising a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box Restaurant and Qdoba Restaurant business segments.