Jack in the Box shares can double in 3-4 years, says Jefferies Jefferies analyst Alexander Slagle believes shares of Jack in the Box can be worth $100 in three-to-four years due to accelerating sales at Qdoba and continued momentum at the core brand. Slagle thinks the current stock price does not fully reflect the Qdoba opportunity and raised his price target for shares to $62 from $53 in a note to investors this morning. He keeps a Buy rating on shares of Jack in the Box, which closed yesterday down 2c to $52.70.
Jack in the Box says 'committed' to returning cash to shareholders Says Q2 sales increased in all major markets. Says weather was "more of a factor" in Q2 this year vs.last year. Says during Q2, there were three weeks negatively impacted by weather for Qdoba. Says "pleased" with how both brands are performing. Says "committed" to returning cash to shareholders. Now sees FY commodity costs up approximately 2%. Says FY15 operating EPS guidance now includes expected 6c charge related to removal of existing beverage equipment in Q3 and Q4. Comments made on the Q2 earnings conference call. Jack in the Box is down 4.23% to $87.90 in late-morning trading.
Jack in the Box reports Q2 operating EPS 69c, consensus 67c Reports Q2 revenue $358.1M, consensus $356.14M. Jack in the Box system same-store sales increased 8.9% for the quarter and company same-store sales increased 7.4%. Qdoba same-store sales increased 8.3% system-wide and 7.0% for company restaurants in Q2.