Shares of Jack in the Box (NASDAQ: JACK) are set to open over 7% lower Tuesday after the company reported mixed FQ4 earnings.

Jack in the Box reported Q4 EPS of $1.80 to miss on the analyst estimate of $1.75. Revenue for the quarter came in at $278.45 million versus the consensus estimate of $289.07 million.

JACK said it sees same-store sales up 2 to 3% in 2022.

Darin Harris, Jack in the Box Chief Executive Officer, said, “We closed the year with strong comps on a two-year basis of +12.3% in Q4, leading us to another record-setting year of store-level profitability — a key element in driving results against our growth strategy in the near future. We continue to focus heavily on making significant progress on our strategic pillars, growth objectives, and unlocking substantial value for JACK shareholders."

A few days into the earnings, Oppenheimer analyst Brian Bittner lowered the price target on JACK to $130.00 (from $135.00) while maintaining an Outperform rating.

JACK shares closed at $95.81 yesterday and were up 5% YTD.