Jersey Mike’s (NYSE:JMKE) Now Covered by Analysts at Piper Sandler

Equities researchers at Piper Sandler initiated coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an “overweight” rating and a $29.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 21.85% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. UBS Group set a $27.00 target price on shares of Jersey Mike’s in a report on Monday. Stifel Nicolaus initiated coverage on Jersey Mike’s in a research note on Monday. They set a “buy” rating and a $27.00 price target for the company. Wall Street Zen raised Jersey Mike’s to a “hold” rating in a report on Saturday, August 8th. Wolfe Research started coverage on Jersey Mike’s in a research note on Monday. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company assumed coverage on Jersey Mike’s in a report on Monday. They issued a “neutral” rating and a $25.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.77.

Jersey Mike’s Price Performance

Jersey Mike’s stock opened at $23.80 on Monday. Jersey Mike’s has a 1-year low of $20.63 and a 1-year high of $24.99.

Insider Activity

In other Jersey Mike’s news, CFO Michele Allen bought 10,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $23.00 per share, for a total transaction of $230,000.00. Following the purchase, the chief financial officer directly owned 10,043 shares of the company’s stock, valued at approximately $230,989. This represents a 23,255.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 36,114,272 shares of the company’s stock, valued at approximately $789,096,843.20. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought 31,584 shares of company stock worth $726,432 in the last quarter.

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.