Jersey Mike's (NYSE:JMKE) Given New $23.00 Price Target at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut Jersey Mike’s price target to $23 from $27 while maintaining a “market perform” rating, implying about 22.9% upside from the previous close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and $26.96 price target, though several firms have recently lowered their targets.
• Jersey Mike’s reported quarterly EPS of $0.23, beating the $0.16 consensus estimate, while revenue rose 10% year over year to $209 million; the stock traded up 7.3% to $18.71.

Jersey Mike's (NYSE:JMKE - Get Free Report) had its target price cut by stock analysts at Sanford C. Bernstein from $27.00 to $23.00 in a report released on Thursday, Benzinga reports. The firm presently has a "market perform" rating on the stock. Sanford C. Bernstein's price target would suggest a potential upside of 22.93% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Robert W. Baird started coverage on Jersey Mike's in a report on Monday, August 24th. They issued an "outperform" rating and a $27.00 price objective for the company. Piper Sandler assumed coverage on shares of Jersey Mike's in a research note on Monday, August 24th. They set an "overweight" rating and a $29.00 target price on the stock. Loop Capital began coverage on shares of Jersey Mike's in a report on Monday, August 24th. They set a "buy" rating and a $40.00 price target for the company. Mizuho dropped their price target on Jersey Mike's from $31.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, September 10th. Finally, Stifel Nicolaus cut their price objective on Jersey Mike's from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday. Twenty-one equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.96.

Jersey Mike's Trading Up 7.3%

JMKE stock traded up $1.28 during mid-day trading on Thursday, hitting $18.71. 5,548,818 shares of the company were exchanged, compared to its average volume of 3,308,990. Jersey Mike's has a 1-year low of $15.96 and a 1-year high of $24.99. The business has a 50 day simple moving average of $19.19. 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 announced its earnings results on Wednesday, October 28th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.07. The firm had revenue of $209.00 million for the quarter. The business's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts predict that Jersey Mike's will post 0.65 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Stacy Peterson acquired 15,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $23.00 per share, with a total value of $345,000.00. Following the completion of the purchase, the chief operating officer directly owned 15,000 shares in the company, valued at $345,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michele Allen acquired 3,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $23.00 per share, for a total transaction of $69,000.00. Following the completion of the purchase, the chief financial officer owned 1,500 shares of the company's stock, valued at $34,500. This trade represents a -200.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 31,584 shares of company stock valued at $726,432 and have sold 9,938,318 shares valued at $217,152,248.

Jersey Mike's News Roundup

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

• Positive Sentiment: Jersey Mike’s reported third-quarter adjusted EPS of $0.23, above the $0.16 analyst consensus, while revenue rose 10% year over year to $209 million. Jersey Mike’s third-quarter earnings report
• Positive Sentiment: Management expects at least 20% adjusted EBITDA growth in 2026, supporting a stronger forward earnings outlook. Jersey Mike’s EBITDA outlook and buyback announcement
• Positive Sentiment: The board authorized a $100 million share-repurchase program and declared a special dividend of $0.35 per share, adding to the stock’s appeal for investors seeking capital returns. Jersey Mike’s fiscal third-quarter results and capital returns
• Positive Sentiment: Digital sales represented 43% of third-quarter revenue, while same-store sales increased 3% year over year, indicating continued customer engagement and digital-channel adoption. Jersey Mike’s long-term investor takeaways
• Neutral Sentiment: Analysts remain broadly constructive: TD Cowen, Stifel Nicolaus, BTIG Research, Truist Financial and RBC maintain buy or outperform ratings. Their targets imply meaningful upside, although each firm reduced its target, suggesting more cautious assumptions about valuation or growth.
• Negative Sentiment: Wells Fargo lowered its target to $21 from $25 and kept an equal-weight rating. The broader target reductions, including RBC’s cut to $25 from $29 and Truist’s cut to $27 from $30, highlight concerns despite the earnings beat. RBC target reduction for Jersey Mike’s
• Negative Sentiment: Comparable-store sales growth was viewed as disappointing, tempering the positive impact of the revenue and adjusted-EPS beats. Jersey Mike’s comparable-store sales report

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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