Well, I guess the good news was already built in to the price; we've had a nice move over the past week already. Still, the lack of reaction (volume) is a bit surprising. You'd think some shareholders would trade on the news. Volume has been far below normal for a while. I sold a little at $18, but don't plan to buy back any unless it starts to slip down past $17 again.
Yes, I plan on attending the annual meeting on Feb. 13. Did you notice that they scheduled it on Friday the 13th? There's got to be a sense of humor at that company! Their latest spot with the "focus group" is hilarious. First time Jack loses it, but in a funny way.
Since Jack in the Box beat their estimates during what is usually their slowest quarter (albeit a longer one), I'm looking forward to the spring and summer quarters, typically very good ones. I checked First Call, but they haven't updated yet. I noticed that they had one upward revision in the past 30 days, but it seemed to be because there are now 7 analysts covering FM, up from the 5 about a month ago. Briefing.com shows there have been net purchases of 3.68 million shares from institutional buyers, so they're definitely getting more interested in FM. With a float of only 26 million shares, this is a 14% increase in institutional ownership. 5 analysts still rate FM as a "strong buy" with the other two at "moderate buy", for a score of 1.3. We'll probably see some upgrades after this week or perhaps after the annual meeting.
The conference call is being replayed today, from 12:30-3:30pm PST. The phone number is (800) 633-8284, use ID #3709021. I got this info from an AOL post, so hopefully it's accurate.
Regards,
D. Kuspa |
