Jersey Mike’s (NYSE:JMKE – Get Free Report) had its target price cut by equities research analysts at Mizuho from $31.00 to $29.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 32.58% from the company’s previous close.
A number of other equities research analysts also recently weighed in on JMKE. Melius Research assumed coverage on shares of Jersey Mike’s in a research note on Thursday, July 30th. They set a “buy” rating and a $30.00 price target for the company. UBS Group reaffirmed a “buy” rating on shares of Jersey Mike’s in a research note on Wednesday. TD Cowen restated a “buy” rating and set a $26.00 target price on shares of Jersey Mike’s in a research report on Wednesday. Zacks Research upgraded shares of Jersey Mike’s to a “hold” rating in a report on Tuesday, August 25th. Finally, Guggenheim initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued a “buy” rating and a $28.00 price target for the company. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.43.
Check Out Our Latest Research Report on JMKE
Jersey Mike’s Trading Down 2.2%
Insider Activity
In related news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stacy Peterson acquired 15,000 shares of the stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $23.00 per share, for a total transaction of $345,000.00. Following the transaction, the chief operating officer directly owned 15,000 shares in the company, valued at approximately $345,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.
Key Headlines Impacting Jersey Mike’s
Here are the key news stories impacting Jersey Mike’s this week:
- Positive Sentiment: Strong quarterly growth and guidance: Jersey Mike’s reported second-quarter adjusted earnings above expectations. Same-store sales rose 2.3%, systemwide sales increased 10% to $1.21 billion, revenue climbed 10% to $208 million, and the company opened 83 stores. Management projected 2.5%–3.0% full-year same-store sales growth and 3.0%–4.0% growth in the third quarter. Jersey Mike’s Reports Second Quarter Financial Results
- Positive Sentiment: Analysts raised targets: Royal Bank of Canada increased its target to $29 and initiated an “outperform” rating. Bank of America also raised its target to $29 with a “buy” rating, while Sanford C. Bernstein lifted its target to $27 and maintained “market perform.” BTIG reaffirmed “buy” with a $28 target, and TD Cowen maintained “buy” with a $26 target. Analysts Raise Forecasts After Q2 Results
- Positive Sentiment: Expansion and traffic trends support the growth story: Net unit growth reached 8.1% year over year, while transaction growth drove same-store sales. Unusually heavy call-option buying also reflected speculative bullish interest, although it is not a fundamental signal.
- Neutral Sentiment: Mixed first public earnings report: Revenue was roughly in line with expectations but slightly below the consensus estimate, making the report less likely to produce a sustained rally despite the earnings beat and stronger outlook.
- Negative Sentiment: Profitability and ownership concerns: Net income declined from the prior-year period, and reported insider activity showed selling without any open-market purchases during the past six months. These factors may be limiting upside as investors assess the newly public company.
About Jersey Mike’s
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.
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