Jersey Mike’s (NYSE:JMKE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Jersey Mike’s (NYSE:JMKE) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $27.7143.

Several research firms have issued reports on JMKE. UBS Group set a $27.00 price objective on Jersey Mike’s in a research report on Monday. Raymond James Financial started coverage on shares of Jersey Mike’s in a research note on Monday. They set an “outperform” rating on the stock. Jefferies Financial Group started coverage on shares of Jersey Mike’s in a report on Monday. They issued a “positive” rating for the company. Evercore started coverage on shares of Jersey Mike’s in a research note on Monday. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Piper Sandler initiated coverage on shares of Jersey Mike’s in a report on Monday. They set an “overweight” rating and a $29.00 price objective on the stock.

Key Jersey Mike’s News

Here are the key news stories impacting Jersey Mike’s this week:

• Positive Sentiment: Mizuho initiated coverage with an “outperform” rating and a $31 price target, implying approximately 30% potential upside. Benzinga article
• Positive Sentiment: Piper Sandler and Morgan Stanley each rated the stock “overweight” and set $29 price targets, implying roughly 22% upside. Benzinga article
• Positive Sentiment: BTIG Research initiated coverage with a “buy” rating and a $28 target, while Evercore assigned an “outperform” rating with the same target. Benzinga article
• Positive Sentiment: Stifel Nicolaus and Robert W. Baird both issued positive ratings and $27 price targets. Benzinga article
• Neutral Sentiment: Bernstein rated Jersey Mike’s “market perform,” while TD Cowen rated it “buy”; both set $26 targets, the lowest among the new estimates. Benzinga article

Jersey Mike’s Stock Down 0.3%

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 at Jersey Mike’s

In other news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of Jersey Mike’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 transaction of $96,381,748.40. Following the completion of the sale, the insider directly owned 36,114,272 shares in the company, valued at approximately $789,096,843.20. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stacy Peterson purchased 15,000 shares of Jersey Mike’s stock in a transaction dated Friday, July 31st. The shares were bought at an average price of $23.00 per share, with a total value of $345,000.00. Following the completion of the transaction, the chief operating officer owned 15,000 shares in the company, valued at approximately $345,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 31,584 shares of company stock valued at $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.