Jersey Mike’s (NYSE:JMKE) Stock Gets Price Target Trim from Raymond James Financial

Jersey Mike’s (NYSE:JMKE) had its price objective decreased by Raymond James Financial from $29.00 to $26.00 in a research report sent to investors on Friday morning,Benzinga reports. Raymond James Financial currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on the company. Royal Bank Of Canada lifted their target price on Jersey Mike’s from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. Piper Sandler assumed coverage on Jersey Mike’s in a research note on Monday, August 24th. They issued an “overweight” rating and a $29.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Jersey Mike’s in a report on Wednesday, September 9th. Evercore began coverage on Jersey Mike’s in a research report on Monday, August 24th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.78.

Jersey Mike’s Price Performance

Shares of JMKE stock opened at $17.97 on Friday. The firm’s 50-day moving average price is $19.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.82 and a current ratio of 1.82. Jersey Mike’s has a twelve month low of $15.96 and a twelve month high of $24.99.

Jersey Mike’s (NYSE:JMKE) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $3,700.00 earnings per share (EPS) for the quarter. The firm had revenue of $208.00 million during the quarter. Equities research analysts forecast that Jersey Mike’s will post 0.65 earnings per share for the current year.

Insider Activity at Jersey Mike’s

In other Jersey Mike’s news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider owned 143,699 shares in the company, valued at $3,139,823.15. This represents a 94.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider owned 143,699 shares in the company, valued at $3,139,823.15. The trade was a 94.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders bought 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.

About Jersey Mike’s

Jersey Mike’s is an American fast-casual restaurant company best known for submarine sandwiches made to order. Its menu typically includes cold subs, cheesesteaks, wraps, salads, sides, beverages and catering options. The brand emphasizes freshly sliced meats and cheeses, along with its signature “Mike’s Way” preparation featuring onions, lettuce, tomatoes, oil, vinegar and spices.

The company traces its roots to 1956, when the original Mike’s Submarines opened in Point Pleasant, New Jersey.