Jersey Mike’s’ (JMKE) “Buy” Rating Reiterated at Tigress Financial

Tigress Financial reiterated their buy rating on shares of Jersey Mike’s (NYSE:JMKE) in a research note issued to investors on Tuesday morning,Benzinga reports. Tigress Financial currently has a $30.00 target price on the stock.

Several other equities research analysts also recently commented on JMKE. JPMorgan Chase & Co. cut their target price on shares of Jersey Mike’s from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Raymond James Financial decreased their price target on shares of Jersey Mike’s from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Loop Capital assumed 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 for the company. Robert W. Baird started coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Jefferies Financial Group reduced their price objective on shares of Jersey Mike’s from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 29th. Twenty-one investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.91.

Jersey Mike’s Price Performance

Shares of JMKE stock opened at $19.77 on Tuesday. The company’s 50-day moving average price is $18.76. Jersey Mike’s has a 12 month low of $15.96 and a 12 month high of $24.99. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 1.15.

Jersey Mike’s (NYSE:JMKE) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.07. The firm had revenue of $209.00 million for the quarter. The company’s revenue was up 10.0% compared to the same quarter last year. Analysts predict that Jersey Mike’s will post 0.64 earnings per share for the current year.

Jersey Mike’s Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, November 5th.

Insider Buying and Selling

In related news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of Jersey Mike’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the completion of the transaction, the insider owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $8,349,627.90. Following the completion of the transaction, the insider owned 35,732,138 shares in the company, valued at approximately $780,747,215.30. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,527,254 shares of company stock valued at $120,770,500 over the last quarter.

Jersey Mike’s Company Profile

Jersey Mike’s, commonly known as Jersey Mike’s Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike’s Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” preparation.

Jersey Mike’s traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.