Shares of Jersey Mike’s (NYSE:JMKE – Get Free Report) rose 3.8% during mid-day trading on Thursday. The stock traded as high as $16.73 and last traded at $17.02. Approximately 98,478 shares traded hands during trading, a decline of 97% from the average session volume of 3,321,257 shares. The stock had previously closed at $16.39.
Analyst Upgrades and Downgrades
JMKE has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price objective 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. BTIG Research reissued a “buy” rating and issued a $28.00 target price on shares of Jersey Mike’s in a research note on Thursday, September 10th. Evercore initiated coverage on Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $28.00 price target for the company. Sanford C. Bernstein lifted their price target on Jersey Mike’s from $26.00 to $27.00 and gave the stock a “market perform” rating in a research report on Thursday, September 10th. Finally, Melius Research began coverage on shares of Jersey Mike’s in a research report on Thursday, July 30th. They set a “buy” rating and a $30.00 price objective on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.91.
Check Out Our Latest Stock Analysis on Jersey Mike’s
Jersey Mike’s Price Performance
Jersey Mike’s (NYSE:JMKE – Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported $3,700.00 EPS for the quarter. The business had revenue of $208.00 million for the quarter. As a group, analysts anticipate that Jersey Mike’s will post 0.65 earnings per share for the current year.
Insider Activity at Jersey Mike’s
In related news, CFO Michele Allen bought 3,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $69,000.00. Following the purchase, the chief financial officer owned 1,500 shares of the company’s stock, valued at approximately $34,500. The trade was a -200.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of Jersey Mike’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 completion of the sale, the insider owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This represents a 94.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.
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