Jersey Mike’s (NYSE:JMKE) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Jersey Mike’s (NYSE:JMKE) has been given an average rating of “Moderate Buy” by the twenty-seven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.91.

A number of equities research analysts recently commented on JMKE shares. Robert W. Baird assumed coverage on Jersey Mike’s in a research report on Monday, August 24th. They set an “outperform” rating and a $27.00 price target on the stock. Melius Research started coverage on shares of Jersey Mike’s in a report on Thursday, July 30th. They set a “buy” rating and a $30.00 price objective on the stock. Loop Capital started coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set a “buy” rating and a $40.00 price target on the stock. Guggenheim dropped their price objective on shares of Jersey Mike’s from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Finally, Sanford C. Bernstein lowered their target price on Jersey Mike’s from $27.00 to $23.00 and set a “market perform” rating for the company in a research note on Thursday, October 29th.

Jersey Mike’s Stock Up 3.9%

NYSE JMKE opened at $20.38 on Friday. Jersey Mike’s has a 1-year low of $15.96 and a 1-year high of $24.99. The firm’s 50 day moving average is $18.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.81 and a current ratio of 2.81.

Jersey Mike’s (NYSE:JMKE) last posted its earnings results on Wednesday, October 28th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.16 by $0.07. The company had revenue of $209.00 million for the quarter. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts predict that Jersey Mike’s will post 0.64 earnings per share for the current fiscal year.

Jersey Mike’s Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, November 5th.

Insider Buying and Selling at Jersey Mike’s

In other Jersey Mike’s news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares in the company, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total value of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares in the company, valued at approximately $3,139,823.15. This represents a 94.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 5,527,254 shares of company stock valued at $120,770,500.

Hedge Funds Weigh In On Jersey Mike’s

A number of large investors have recently bought and sold shares of the company. Alberta Investment Management Corp acquired a new position in shares of Jersey Mike’s during the 3rd quarter worth about $28,804,000. Ieq Capital LLC acquired a new stake in Jersey Mike’s in the third quarter valued at $924,000. Finally, Global Retirement Partners LLC bought a new position in shares of Jersey Mike’s in the 3rd quarter valued at about $79,000.

Jersey Mike’s Company Profile

Jersey Mike’s Subs is a U.S.-based sandwich restaurant chain specializing in made-to-order submarine sandwiches, along with wraps, salads, and other quick-service menu items. Its shops are primarily operated through a franchise model. The business traces its roots to a sandwich shop opened in 1956 in Point Pleasant, New Jersey. Founder Peter Cancro acquired the shop in 1975, and the Jersey Mike’s name was adopted as the chain expanded. Jersey Mike’s serves customers through locations across the United States and in select international markets.