KeyBanc analyst Eric Gonzalez reiterated a Sector Weight rating on Jack In The Box (NASDAQ: JACK).

The analyst commented: "Slow Start, Leadership Changes; A better-than-anticipated F1Q, headlined by EPS of $1.92 (-2% y/y) coming in ahead of consensus of $1.69. Above-consensus restaurant-level margins at both the Jack in the Box and Del Taco brands were key drivers of the bottomline beat, though much of the benefit from a new beverage contract that drove the margin beats will not be repeated going forward. And while JitB SSS did come in modestly above expectations (+0.4%, vs. cons. ~flat), the Company expects trends for both brands to be negative for F2Q, as macro/industry headwinds in part weigh on QTD. Furthermore, the surprise departure of CEO Darin Harris (announced yesterday) adds to uncertainty in the NT, though we acknowledge potential from reassessment/reset of brand and company strategy could potentially yield LT upside. However, it remains early days under the helm of "new" leadership, and we expect shares could remain range-bound despite seemingly inexpensive valuation (<7x est. FY26 EPS)."

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Shares of Jack In The Box closed at $33.95 yesterday.