Jersey Mike's (NYSE:JMKE) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Jersey Mike’s to “Hold” from “Sell,” while the broader analyst consensus remains “Moderate Buy,” with 21 Buy ratings and five Holds and an average price target of $28.52.
• Several analysts raised their price targets, including Tigress Financial to $30 and Bank of America to $29; Morgan Stanley also initiated coverage with an Overweight rating and a $29 target.
• Insider activity was mixed: the COO bought 15,000 shares, while Blackstone sold more than 2.57 million shares; overall, insiders sold substantially more stock than they purchased during the quarter.

Jersey Mike's (NYSE:JMKE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on JMKE. Tigress Financial upped their price target on shares of Jersey Mike's from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Friday. Bank of America upped their target price on Jersey Mike's from $27.00 to $29.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley began coverage on Jersey Mike's in a report on Monday, August 24th. They issued an "overweight" rating and a $29.00 price target on the stock. Zacks Research raised shares of Jersey Mike's to a "hold" rating in a research note on Tuesday, August 25th. Finally, William Blair restated an "outperform" rating on shares of Jersey Mike's in a research report on Wednesday. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.52.

Jersey Mike's Stock Performance

Shares of JMKE stock opened at $21.65 on Friday. Jersey Mike's has a 52 week low of $19.86 and a 52 week high of $24.99.

Insider Buying and Selling at Jersey Mike's

In other news, COO Stacy Peterson acquired 15,000 shares of the firm's stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the acquisition, the chief operating officer owned 15,000 shares in the company, valued at $345,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of Jersey Mike's stock in a transaction dated 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 transaction, the insider directly owned 143,699 shares of the company's stock, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

Key Headlines Impacting Jersey Mike's

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

• Positive Sentiment: Multiple analysts raised price targets. Tigress Financial increased its target to $30 from $29 and maintained a Buy rating. Guggenheim raised its target to $29 from $28, while Royal Bank of Canada lifted its target to $29 from $28. Bank of America also raised its target to $29 from $27. Tigress Financial Adjusts Jersey Mike's Subs Price Target
• Positive Sentiment: Analysts remain constructive after the second-quarter report. BTIG reaffirmed its Buy rating with a $28 target, TD Cowen reiterated Buy, and Bernstein raised its target to $27 while maintaining a Market Perform rating. The revisions reflect confidence in Jersey Mike’s earnings growth and expansion outlook. Analysts Raise Their Forecasts on Jersey Mike's Subs After Q2 Results
• Positive Sentiment: Call-option activity was elevated. Reports of unusually high-volume purchases of JMKE call options indicate that some traders are positioning for further upside, although options activity can be speculative and does not guarantee a sustained rally. Stock Traders Buy High Volume of Call Options on Jersey Mike's
• Neutral Sentiment: Valuation remains a key consideration. Most analysts see substantial upside to targets between $27 and $30, but the stock’s weaker session suggests investors may be digesting the post-earnings outlook rather than immediately rewarding the revisions.
• Negative Sentiment: Mizuho reduced its price target to $29 from $31, although it retained an Outperform rating. The cut introduces a more cautious view on near-term upside compared with other analysts.

Jersey Mike's Company Profile

Jersey Mike's is a fast-casual restaurant company specializing in made-to-order submarine sandwiches. Its menu includes cold subs, cheesesteaks, wraps, salads, sides and beverages, with sandwiches prepared using sliced-to-order meats and cheeses, fresh vegetables and the company's signature “Mike's Way” dressing of onions, lettuce, tomatoes, vinegar and olive oil.

The business traces its roots to a neighborhood sub shop in Point Pleasant, New Jersey, which was established in 1956. Peter Cancro acquired the shop as a teenager in 1971 and developed it into the Jersey Mike's brand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.