Jersey Mike’s (NYSE:JMKE) Price Target Raised to $27.00

Jersey Mike’s (NYSE:JMKE) had its price target raised by Sanford C. Bernstein from $26.00 to $27.00 in a research note released on Thursday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other research firms also recently weighed in on JMKE. Bank of America upped their price target on Jersey Mike’s from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued an “outperform” rating and a $28.00 price objective on the stock. Loop Capital initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They set a “buy” rating and a $40.00 target price for the company. Robert W. Baird initiated coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They issued an “outperform” rating and a $27.00 target price for the company. Finally, Evercore started coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set an “outperform” rating and a $28.00 price target on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.52.

Jersey Mike’s Stock Down 1.0%

NYSE:JMKE opened at $21.65 on Thursday. Jersey Mike’s has a 52-week low of $19.86 and a 52-week high of $24.99.

Insider Transactions at Jersey Mike’s

In related news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the stock in a transaction on 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 owned 143,699 shares in the company, valued at approximately $3,139,823.15. This represents a 94.71% 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, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm’s 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 of the company’s stock, valued at $3,139,823.15. This represents a 94.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 31,584 shares of company stock valued at $726,432 and have sold 9,938,318 shares valued at $217,152,248.

Trending Headlines about Jersey Mike’s

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

• Positive Sentiment: Multiple analysts raised price targets. Tigress Financial increased its target to $30 from $29 and maintained a Buy rating. Guggenheim raised its target to $29 from $28, while Royal Bank of Canada lifted its target to $29 from $28. Bank of America also raised its target to $29 from $27. Tigress Financial Adjusts Jersey Mike’s Subs Price Target
• Positive Sentiment: Analysts remain constructive after the second-quarter report. BTIG reaffirmed its Buy rating with a $28 target, TD Cowen reiterated Buy, and Bernstein raised its target to $27 while maintaining a Market Perform rating. The revisions reflect confidence in Jersey Mike’s earnings growth and expansion outlook. Analysts Raise Their Forecasts on Jersey Mike’s Subs After Q2 Results
• Positive Sentiment: Call-option activity was elevated. Reports of unusually high-volume purchases of JMKE call options indicate that some traders are positioning for further upside, although options activity can be speculative and does not guarantee a sustained rally. Stock Traders Buy High Volume of Call Options on Jersey Mike’s
• Neutral Sentiment: Valuation remains a key consideration. Most analysts see substantial upside to targets between $27 and $30, but the stock’s weaker session suggests investors may be digesting the post-earnings outlook rather than immediately rewarding the revisions.
• Negative Sentiment: Mizuho reduced its price target to $29 from $31, although it retained an Outperform rating. The cut introduces a more cautious view on near-term upside compared with other analysts.

About Jersey Mike’s

Jersey Mike’s is a fast-casual restaurant company specializing in made-to-order submarine sandwiches. Its menu includes cold subs, cheesesteaks, wraps, salads, sides and beverages, with sandwiches prepared using sliced-to-order meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” dressing of onions, lettuce, tomatoes, vinegar and olive oil.

The business traces its roots to a neighborhood sub shop in Point Pleasant, New Jersey, which was established in 1956. Peter Cancro acquired the shop as a teenager in 1971 and developed it into the Jersey Mike’s brand.