The stock of Jack in the Box Inc. (NASDAQ:JACK) is now priced at $74.32 and the shares are 0.05 points up or 0.07% higher compared to its previous closing price of $74.27. The stock had 414144 contracts set over the past session. JACK shares’ daily volume is compared to its average trading volume at 822743 shares. However, it has a float of 22.24 million and although its performance was 0.24% over the week, it’s one to watch. Analysts have given the JACK stock a yearly average price target of $78.88 per share. It means the stock’s upside potential is 6.14% with the JACK share price recently placing at $73.62 to $75.72. However, some brokerage firms have priced the stock below the average, including one that has called $55.
The shorts are running away from the Jack in the Box Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the JACK shares have declined. Short interest in the stock represents just 14.21% of its float, but the volume has dropped by -146658. The volume of shorted shares dropped to 3.16 million from 3.307 million shares over the last two weeks. The average intraday trading volume has been 612142 shares, which means that days to cover moved to roughly 5.162005.
In the last trading session, Jack in the Box Inc. (NASDAQ:JACK) dropped by -$0.57 over the week and gained $3.3 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $93.12. The stock recorded its established 52-week high on 10/04/19.
Since 03/18/20, the stock has traded to a low of $16.81 at 342.12%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.7. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Jack in the Box Inc.’s two-week RSI is 56.7. This suggests that the stock is neutral at the moment and that JACK shares’ price movement remains stable. The stochastic readings are equally revealing at 80.17% meaning the JACK share price is currently in oversold territory.
The technical chart shows that the JACK stock will likely settle at between $75.45 and $76.64 per share. However, if the stock dips below $73.35, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $72.44.
Currently, the stock is trading in the green of MACD, with a reading of 0.49. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Telsey Advisory Group though raised target price of JACK stock from $84 to $90 but maintained Outperform recommendation in their June 25 review. Stifel analysts see the stock as a Buy, but they also raised the share’s target price from $70 to $83 in a flash note released to investors on June 18. Goldman seeing the improvements upgraded the stock from Sell to Neutral on May 27, placing it at $42 to $66.
The average rating for the JACK equity is 2.5 and is currently gathering a bullish momentum. Of 18 analysts tracking Jack in the Box Inc. polled by Reuters, 10 rated JACK as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the JACK stock price is 16.21X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 33.9 above the group’s average of 27.3.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Jack in the Box Inc. (NASDAQ:JACK) will decrease by about -99.89%, which will see them reach $238.72 million. The company’s full-year revenues are, however, expected to increase by about 5.25%, up from $950.11 million to $1000 million. JACK’s expected adjusted earnings should drop almost -6.54% to end up at $1 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -17.01% to record $3.61/share.