- Cowen analyst Andrew M. Charles has downgraded Jack In The Box Inc (NASDAQ:JACK) to Market Perform from Outperform and lowered the price target to $68 (17% upside) from $115.
- Andrew thinks the challenging quick-service restaurant industry sales backdrop and Jack’s above-industry levels of pricing & inflation present headwinds for the company’s development.
- Related: Jack In The Box Q2 Earnings Miss Estimates
- The analyst said he was concerned about Jack’s negative same-store sales in the second half of 2022 due to proprietary survey data indicating lagging value perceptions compared to its peers.
- Price Action: JACK shares are trading lower by 2.80% at $58.32 on the last check Wednesday.
Erie Indemnity Q4 EPS $1.05 Misses $1.18 Estimate, Sales $635.93M Beat $631.87M Estimate
Erie Indemnity (NASDAQ:ERIE) reported quarterly earnings of $1.05 per share which missed the analyst consensus estimate of $1.18 by 11.02 percent. This is a 12.5 percent decrease over earnings of $1.20 per share from the
