Here's What Three Analysts Think Of Jack In The Box's Q1 Print - Jack In The Box (NASDAQ:JACK)

Following

Jack in the Box Inc.

JACK

first quarter print on Tuesday, several analysts offered their opinion.

Barclays: Déjà Vu, Again
In a report published Wednesday, Barclays analyst Jeffrey Bernstein said that Jack In The Box's portfolio continues to impress and is positioned for growth in both the quick service restaurant and fast casual space. Bernstein also noted that the company's comp momentum is strong heading in to the second quarter, supporting an increase in fiscal 2015 earnings per share growth guidance, now at 16 percent to 21 percent year over year. Shares are Equal Weight rated with a $90 price target. Wunderlich: ‘Kicks Off 2015 In Style'
Also commenting in a report on Wednesday, Robert Derrington of Wunderlich wrote that Jack In The Box's first quarter results demonstrated a "strong start" to 2015. The analyst noted that the company's results reflected a "much better than expected" system same-store sales growth and both Jack In The Box and Qdoba, further supported by improved restaurant and operating margins and a lower than projected share count. Derrington added that his confidence in management's strategy and strong operating fundamentals remains intact. The analyst also argued that the company's growth profile is better than most peers and its strong operating outperformance will continue. Shares are Buy rated with a $100 price target which is "likely to be revised higher."
Morgan Stanley: Bullish Tone Remains
John Glass of Morgan Stanley said that comp acceleration at Jack In The Box adds "another layer" to the bullish thesis while Qdoba showed "full benefits" of recent move to inclusive pricing. Commenting in a note on Wednesday, Glass also commented that the company showed "impressive" momentum at both brands. The analyst added that Jack In The Box's upside is "most surprising" as breakfast and late-night remained the biggest drivers, similar to what was seen in the first quarter 2014. Qdoba posted "very strong" comps along with a 290 basis point increase in restaurant margins, negating concerns that its new pricing strategy would pressure margins. However, Glass noted that Jack In The Box first quarter comps and second quarter guidance of five percent to seven percent imply a second half 2015 comp guidance of three percent (at the mid-point) as compares get more difficult. In addition, Qdoba's first quarter comp and second quarter guidance of seven percent to nine percent implies a 2015 comp of six percent, which would entail a slight deceleration on a two-year basis. Shares are Equal-weight rated with an $86 price target.

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