Jack in the Box

JACK · NASDAQ

$12.08+$0.01 (+0.08%)TodayMarket closed · Oct 20, 6:35 PM ET

Prev close $12.07

JACK analyst rating

HoldConsensus of 13 analysts over the last 12 months. 15% rate it a buy.

Strong buy0
Buy2
Hold10
Underperform0
Sell1

12-month price target · 14 analysts

Average $20.32 (+68.2% upside)

Low: $12.12
Now: $12.08
High: $37.80

Upgrades and downgrades

The latest rating actions, newest first

JACK analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 15, 2026	Maintains	Equal-Weight	$15.00 → $14.00	59%
UBS	Aug 13, 2026	Maintains	Neutral	$14.00 → $20.00	47%
Citigroup	Aug 13, 2026	Maintains	Neutral	$17.00 → $20.00	57%
RBC Capital	Aug 13, 2026	Maintains	Outperform	$16.00 → $22.00	27%
Guggenheim	May 29, 2026	Downgrade	Buy → Neutral	—	60%
Goldman Sachs	May 15, 2026	Maintains	Sell	$17.00 → $12.00	46%
UBS	May 14, 2026	Maintains	Neutral	$23.00 → $14.00	47%
Citigroup	May 14, 2026	Maintains	Neutral	$15.00 → $14.00	57%
Oppenheimer	May 14, 2026	Maintains	Outperform	$27.00 → $22.00	58%
RBC Capital	May 14, 2026	Maintains	Outperform	$17.00 → $16.00	27%

The case for and against

Updated Oct 14, 2026

Bull case

Jack In The Box is supported by a clearer five-point turnaround strategy that gives investors measurable benchmarks, with an emphasis on in-store execution, consumer experience, and digital adoption that could improve traffic, check, and profitability. QTD same-store sales are tracking to the low single digits, helped by the Philly Cheesesteak LTO, while management’s expectation for 4Q SSS to be flat to slightly up suggests a conservative setup that may already be priced in. The stock also looks undervalued versus peers because unit growth can reaccelerate from a base of more than 2,100 restaurants toward an estimated nearly 2,900 potential locations, and franchisee refreshes requiring only $2k per store have already shown about 1 to 1.5 points of comp uplift with strong ROIC.

Bear case

Jack In The Box is facing a deteriorating fundamental backdrop marked by softer same-store sales, with management’s own outlook implying 2026 SSS of -3% after 2024 SSS of -1% and 2025 SSS of -4%, while Q3 also missed and worsened through the quarter. The company’s balance sheet is strained, with about $230 million of equity against $1.6 billion of debt on roughly $225 million of EBITDA, leaving limited flexibility to fund the turnaround, remodels, or a more aggressive store closure program. Additional pressure comes from Chicago’s underperforming 9 stores, elevated rent obligations on about 73% of units, and margin headwinds from labor, beef, and commodity inflation, all of which could keep company restaurant profit and EBITDA under pressure.

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