Jersey Mike’s (NYSE:JMKE) Now Covered by Analysts at Sanford C. Bernstein

Stock analysts at Sanford C. Bernstein began 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 a “market perform” rating and a $26.00 price target on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 9.24% from the stock’s previous close.

A number of other brokerages have also issued reports on JMKE. Wolfe Research started coverage on shares of Jersey Mike’s in a research note on Monday. They issued a “peer perform” rating on the stock. Melius Research initiated coverage on Jersey Mike’s in a report on Thursday, July 30th. They issued a “buy” rating and a $30.00 price objective for the company. Royal Bank Of Canada initiated coverage on Jersey Mike’s in a research note on Monday. They set an “outperform” rating and a $28.00 price objective on the stock. Jefferies Financial Group assumed coverage on Jersey Mike’s in a report on Monday. They set a “positive” rating on the stock. Finally, UBS Group set a $27.00 target price on Jersey Mike’s in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.77.

Jersey Mike’s Stock Down 0.3%

NYSE JMKE opened at $23.80 on Monday. Jersey Mike’s has a 12 month low of $20.63 and a 12 month high of $24.99.

Insider Transactions at Jersey Mike’s

In other news, CFO Michele Allen bought 10,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the acquisition, the chief financial officer directly owned 10,043 shares in the company, valued at approximately $230,989. The trade was a 23,255.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was 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 in the company, valued at approximately $789,096,843.20. This trade represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, 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.