Analysts at JPMorgan Chase & Co. began coverage on shares of Jersey Mike’s (NYSE:JMKE – Get Free Report) in a research note issued on Monday. The firm set an “overweight” rating and a $26.00 price target on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 9.24% from the company’s current price.
A number of other research analysts also recently weighed in on the company. Loop Capital assumed coverage on Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $40.00 target price on the stock. Melius Research started coverage on shares of Jersey Mike’s in a research note on Thursday, July 30th. They set a “buy” rating and a $30.00 target price on the stock. Guggenheim started coverage on Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $28.00 price target on the stock. Wall Street Zen raised shares of Jersey Mike’s to a “hold” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group started coverage on Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $29.00 target price for the company. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.43.
Read Our Latest Stock Report on Jersey Mike’s
Jersey Mike’s Trading Down 0.3%
Insiders Place Their Bets
In other Jersey Mike’s news, CFO Michele Allen acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $23.00 per share, for a total transaction of $230,000.00. Following the acquisition, the chief financial officer directly owned 10,043 shares in the company, valued at $230,989. The trade was a 23,255.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $21.85, for a total transaction of $96,381,748.40. Following the sale, the insider directly owned 36,114,272 shares of the company’s stock, valued at $789,096,843.20. This represents a 10.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 31,584 shares of company stock worth $726,432 in the last 90 days.
Jersey Mike’s News Summary
Here are the key news stories impacting Jersey Mike’s this week:
- Positive Sentiment: Mizuho initiated coverage with an “outperform” rating and a $31 price target, implying approximately 30% potential upside. Benzinga article
- Positive Sentiment: Piper Sandler and Morgan Stanley each rated the stock “overweight” and set $29 price targets, implying roughly 22% upside. Benzinga article
- Positive Sentiment: BTIG Research initiated coverage with a “buy” rating and a $28 target, while Evercore assigned an “outperform” rating with the same target. Benzinga article
- Positive Sentiment: Stifel Nicolaus and Robert W. Baird both issued positive ratings and $27 price targets. Benzinga article
- Neutral Sentiment: Bernstein rated Jersey Mike’s “market perform,” while TD Cowen rated it “buy”; both set $26 targets, the lowest among the new estimates. Benzinga article
Jersey Mike’s Company Profile
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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