Jersey Mike’s (NYSE:JMKE) Coverage Initiated by Analysts at Bank of America

Analysts at Bank of America assumed coverage on shares of Jersey Mike’s (NYSE:JMKE) in a note issued to investors on Monday,Benzinga reports. The firm set a “buy” rating and a $27.00 price target on the stock. Bank of America‘s target price would indicate a potential upside of 13.45% from the stock’s current price.

JMKE has been the topic of a number of other reports. Evercore began coverage on shares of Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $28.00 price target on the stock. UBS Group set a $27.00 price objective on shares of Jersey Mike’s in a report on Monday. Royal Bank Of Canada started coverage on shares of Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $28.00 target price on the stock. Melius Research started coverage on shares of Jersey Mike’s in a report on Thursday, July 30th. They set a “buy” rating and a $30.00 target price on the stock. Finally, BTIG Research began coverage on Jersey Mike’s in a research note on Monday. They issued a “buy” rating and a $28.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Jersey Mike’s has an average rating of “Moderate Buy” and a consensus target price of $27.71.

Jersey Mike’s Stock Down 0.3%

Shares of Jersey Mike’s stock opened at $23.80 on Monday. Jersey Mike’s has a 52-week low of $20.63 and a 52-week high of $24.99.

Insider Activity

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

About Jersey Mike’s

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.