Jersey Mike’s (NYSE:JMKE – Get Free Report)‘s stock had its “buy” rating reaffirmed by research analysts at Tigress Financial in a research note issued on Tuesday, Benzinga reports. They presently have a $30.00 price target on the stock. Tigress Financial‘s price objective would indicate a potential upside of 51.99% from the company’s current price.
A number of other equities research analysts also recently commented on the stock. Morgan Stanley initiated coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They issued an “overweight” rating and a $29.00 target price for the company. TD Cowen reissued a “buy” rating and set a $22.00 price target on shares of Jersey Mike’s in a report on Wednesday, October 28th. Raymond James Financial dropped their price target on Jersey Mike’s from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. BTIG Research cut their price objective on Jersey Mike’s from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Finally, Loop Capital assumed coverage on Jersey Mike’s in a research report on Monday, August 24th. They set a “buy” rating and a $40.00 price objective for the company. Twenty-one analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.91.
Read Our Latest Analysis on Jersey Mike’s
Jersey Mike’s Stock Performance
Shares of NYSE JMKE traded up $0.93 during trading on Tuesday, reaching $19.74. 2,459,634 shares of the company traded hands, compared to its average volume of 3,302,652. The firm’s 50 day moving average price is $18.92. Jersey Mike’s has a 52-week low of $15.96 and a 52-week high of $24.99. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.36.
Jersey Mike’s (NYSE:JMKE – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.07. The company had revenue of $209.00 million for the quarter. Jersey Mike’s’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts anticipate that Jersey Mike’s will post 0.65 EPS for the current year.
Insider Buying and Selling at Jersey Mike’s
In other news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 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 $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. The trade was a 94.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the insider directly owned 35,732,138 shares of the company’s stock, valued at approximately $780,747,215.30. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,527,254 shares of company stock valued at $120,770,500.
About Jersey Mike’s
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.
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