Jack in the Box Inc. (NASDAQ:JACK) reported mixed results for its third quarter on Tuesday.

The company posted quarterly earnings of $1.65 per share which beat the analyst consensus estimate of $1.51 by 9.27%. The company reported quarterly sales of $369.17 million which missed the analyst consensus estimate of $371.11 million.

"I am proud of our teams and how they continue to enhance the guest experience and deliver operational improvements during a challenging sales environment for our entire industry," said Darin Harris, Jack in the Box Chief Executive Officer. "We continue to focus on value and ways we can improve transactions with the low-income guest — while at the same time, doubling down on our strengths of innovation, variety and late night. We will strive to finish the year strong with positive momentum heading into 2025, while continuing to execute against our strategic initiatives to achieve our long-term growth and profitability ambitions."

Jack in the Box said it sees FY24 earnings of $6.10 to $6.25 per share, versus estimates of $6.30 per share.

Jack in the Box shares rose 0.4% to close at $53.03 on Tuesday.

These analysts made changes to their price targets on Jack in the Box following earnings announcement.

• Wedbush analyst Nick Setyan maintained Jack In The Box with an Outperform and lowered the price target from $68 to $60.
• TD Cowen analyst Andrew Charles maintained Jack In The Box with a Hold and cut the price target from $59 to $57.
• Piper Sandler analyst Brian Mullan maintained the stock with a Neutral and lowered the price target from $60 to $56.
• Oppenheimer analyst Brian Bittner maintained Jack In The Box with an Outperform and lowered the price target from $75 to $70.
• Truist Securities analyst Jake Bartlett maintained Jack In The Box with a Buy and lowered the price target from $83 to $70.

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