UBS Group Begins Coverage on Jersey Mike’s (NYSE:JMKE)

Equities researchers at UBS Group started coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research note issued to investors on Monday,Benzinga reports. The firm set a “buy” rating and a $28.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 16.18% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Sanford C. Bernstein started coverage on Jersey Mike’s in a research report on Monday. They set a “market perform” rating and a $26.00 price target on the stock. Bank of America initiated coverage on Jersey Mike’s in a research report on Monday. They issued a “buy” rating and a $27.00 price target on the stock. TD Cowen started coverage on shares of Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $26.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Jersey Mike’s in a research report on Monday. They issued a “buy” rating and a $27.00 target price on the stock. Finally, BTIG Research assumed coverage on Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $28.00 price objective on the stock. Twenty 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 an average price target of $28.48.

Jersey Mike’s Stock Performance

JMKE stock opened at $24.10 on Monday. Jersey Mike’s has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Insider Buying and Selling at Jersey Mike’s

In other news, CAO James J. Whalen purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $23.00 per share, for a total transaction of $57,500.00. Following the completion of the acquisition, the chief accounting officer owned 2,500 shares in the company, valued at $57,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michele Allen acquired 10,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $23.00 per share, with a total value of $230,000.00. Following the purchase, the chief financial officer owned 10,043 shares in the company, valued at approximately $230,989. The trade was a 23,255.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 31,584 shares of company stock valued at $726,432 over the last three months.

Jersey Mike’s News Summary

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 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.