Jersey Mike’s (NYSE:JMKE) Coverage Initiated at TD Cowen

Research analysts at TD Cowen started coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 9.24% from the stock’s current price.

A number of other brokerages have also recently commented on JMKE. Wolfe Research assumed coverage on Jersey Mike’s in a research report on Monday. They issued a “peer perform” rating on the stock. Sanford C. Bernstein initiated coverage on shares of Jersey Mike’s in a research note on Monday. They set a “market perform” rating and a $26.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $27.00 target price on the stock. Wall Street Zen raised shares of Jersey Mike’s to a “hold” rating in a report on Saturday, August 8th. Finally, Melius Research started coverage on shares of Jersey Mike’s in a research report on Thursday, July 30th. They issued a “buy” rating and a $30.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Jersey Mike’s has an average rating of “Moderate Buy” and a consensus price target of $27.77.

Jersey Mike’s Trading Down 0.3%

Shares of NYSE JMKE opened at $23.80 on Monday. Jersey Mike’s has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Insiders Place Their Bets

In other Jersey Mike’s news, COO Stacy Peterson acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the transaction, the chief operating officer directly owned 15,000 shares in the company, valued at $345,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40. Following the completion of the sale, the insider directly owned 36,114,272 shares in the company, valued at $789,096,843.20. This trade represents a 10.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 31,584 shares of company stock worth $726,432 over the last 90 days.

Jersey Mike’s Company Profile

We are Jersey Mike’s: A high-growth franchisor of fast casual, submarine-style sandwich restaurants specializing in authentic, hand-crafted, craveable subs. Built over 70 years on one uncompromising belief – that a truly great sub sandwich can change your day and that a truly great brand changes its community – Jersey Mike’s is now one of the largest and fastest-growing limited-service restaurant brands based on U.S. systemwide sales and unit growth, with 3,300 stores across all 50 states and two countries – nearly all of which are franchised.