In a report released today, Brian Bittner from Oppenheimer reiterated a Buy rating on Jack In The Box (NASDAQ: JACK), with a price target of $125. The company’s shares closed yesterday at $101.89.
Bittner said:
“Consistent with our thesis, JACK sees potential to unlock hidden value by officially putting Qdoba into strategic alternatives. This announcement comes with 2Q results that forced another earnings guidance reduction. But, the outlook had appeared aggressive to begin with, core JITB appears to be improving and the SOTP opportunity has a meaningful base-case upside (particularly in Qdoba-sale scenario).”
According to TipRanks.com, Bittner is a top 100 analyst with an average return of 12.5% and a 72.7% success rate. Bittner covers the Services sector, focusing on stocks such as Restaurant Brands International, Buffalo Wild Wings, and Cheesecake Factory.
Currently, the analyst consensus on Jack In The Box is Moderate Buy and the average price target is $111.20, representing a 9.1% upside.
In a report issued on May 3, Jefferies also reiterated a Buy rating on the stock with a $120 price target.
Jack In The Box’s market cap is currently $3.22B and has a P/E ratio of 26.60. The company has a book value ratio of -11.7990.
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Jack in the Box, Inc. operates and franchises a chain of quick-service and fast-casual restaurants. It operates through the Jack in the Box and Qdoba Mexican Grill segments. The Jack in the Box segment operates quick-service restaurants that offer a selection of products targeted at the adult fast-food consumer, including hamburgers, tacos, specialty sandwiches, drinks, real ice cream shakes, salads, and side items. The Qdoba Mexican Grill segment operates fast-casual restaurants that feature custom orders as well as a variety of catering options. The company was founded by Robert Oscar Peterson in 1951 and is headquartered in San Diego, CA.