Jersey Mike's (NYSE:JMKE) Now Covered by Tigress Financial

Key Points

• Tigress Financial initiated coverage with a “buy” rating and a $29 price target, implying 29.14% upside from Jersey Mike’s current price of $22.46.
• Analyst sentiment is broadly positive, with the stock receiving a “Moderate Buy” consensus rating and an average target price of $28.35 from 25 analysts.
• Shares rose 1.1% to $22.46, while major shareholder Abu Dhabi Investment Authority sold 4.41 million shares worth approximately $96.4 million; Jersey Mike’s CFO separately purchased 3,000 shares.

Tigress Financial started coverage on shares of Jersey Mike's (NYSE:JMKE - Get Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set a "buy" rating and a $29.00 price target on the stock. Tigress Financial's target price would suggest a potential upside of 29.14% from the company's current price.

Several other research firms have also weighed in on JMKE. Royal Bank Of Canada initiated coverage on Jersey Mike's in a research note on Monday. They issued an "outperform" rating and a $28.00 price objective on the stock. Melius Research began coverage on shares of Jersey Mike's in a research note on Thursday, July 30th. They issued a "buy" rating and a $30.00 price target on the stock. Mizuho initiated coverage on shares of Jersey Mike's in a report on Monday. They set an "outperform" rating and a $31.00 price target on the stock. Raymond James Financial assumed coverage on shares of Jersey Mike's in a research report on Monday. They set an "outperform" rating and a $29.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Jersey Mike's in a research note on Monday. They issued an "overweight" rating and a $26.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.35.

Jersey Mike's Trading Up 1.1%

Shares of NYSE JMKE traded up $0.25 during trading hours on Wednesday, hitting $22.46. 432,816 shares of the stock were exchanged, compared to its average volume of 3,170,971. Jersey Mike's has a 1-year low of $20.63 and a 1-year high of $24.99.

Insider Transactions at Jersey Mike's

In related news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $21.85, for a total value of $96,381,748.40. Following the transaction, the insider directly owned 36,114,272 shares in the company, valued at $789,096,843.20. This trade represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michele Allen bought 3,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $23.00 per share, for a total transaction of $69,000.00. Following the completion of the acquisition, the chief financial officer owned 1,500 shares in the company, valued at $34,500. This represents a -200.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 31,584 shares of company stock worth $726,432.

Jersey Mike's News Summary

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

• Positive Sentiment: Raymond James initiated coverage with a “moderate buy” rating and a $29 price target, implying substantial upside from the reference price. This adds another bullish analyst view shortly after the company’s IPO. Raymond James initiates coverage on Jersey Mike’s
• Positive Sentiment: Several major firms initiated coverage, including Guggenheim, Truist, Deutsche Bank, Mizuho, Bernstein, Stifel, TD Cowen, BTIG, Piper Sandler, Baird and Morgan Stanley. The breadth of coverage may improve institutional awareness and support demand for JMKE shares. Guggenheim coverage
• Positive Sentiment: Recent analysts have set targets mostly above the current trading level: Truist at $30, RBC at $28, UBS at $27 and Deutsche Bank at $27. Jefferies also upgraded the stock to “strong buy,” reinforcing the bullish outlook. Analyst coverage and Jersey Mike’s growth outlook
• Positive Sentiment: Analysts see a scalable, high-margin franchise model, continued same-store sales gains and a long runway for domestic and international expansion. Some believe Jersey Mike’s could eventually overtake Subway as the leading sandwich chain. Bank of America growth outlook
• Neutral Sentiment: Goldman Sachs initiated coverage with a “neutral” rating and a $26 price target, while Wells Fargo upgraded the stock to “hold.” These views remain constructive on valuation but suggest the recent rally could limit near-term upside.
• Negative Sentiment: Short interest rose 92.2% to 5.6 million shares as of August 14. Although short interest represents only about 1.4% of shares outstanding, the increase signals that some investors are betting against 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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