Jersey Mike's (NYSE:JMKE) Upgraded at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Jersey Mike’s to a “hold” rating, while other analysts largely remain bullish, giving the stock a consensus “Moderate Buy” rating and an average price target of $28.43.
• Recent analyst targets range from $26 to $40, with firms citing Jersey Mike’s scalable franchise model, strong same-store sales prospects and significant domestic and international expansion opportunities.
• JMKE opened at $23.55, down 1.3%, while company insiders purchased 31,584 shares valued at approximately $726,432 over the past 90 days.

Jersey Mike's (NYSE:JMKE - Get Free Report) was upgraded by stock analysts at Wells Fargo & Company to a "hold" rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. Raymond James Financial assumed coverage on Jersey Mike's in a report on Monday. They set an "outperform" rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. initiated 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. Stifel Nicolaus initiated coverage on shares of Jersey Mike's in a report on Monday. They set a "buy" rating and a $27.00 target price on the stock. Royal Bank Of Canada began coverage on shares of Jersey Mike's in a research report on Monday. They issued an "outperform" rating and a $28.00 target price on the stock. Finally, BTIG Research assumed coverage on Jersey Mike's in a research note on Monday. They set a "buy" rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.43.

Jersey Mike's Trading Down 1.3%

JMKE stock opened at $23.55 on Monday. Jersey Mike's has a 1-year low of $20.63 and a 1-year high of $24.99.

Insider Buying and Selling at Jersey Mike's

In other Jersey Mike's news, COO Stacy Peterson bought 15,000 shares of Jersey Mike's stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, with a total value of $345,000.00. Following the transaction, the chief operating officer directly owned 15,000 shares of the company's stock, valued at $345,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michele Allen acquired 3,000 shares of Jersey Mike'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 $69,000.00. Following the transaction, 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. The SEC filing for this purchase provides additional information. Insiders bought 31,584 shares of company stock valued at $726,432 over the last 90 days.

Key Stories Impacting Jersey Mike's

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

• Positive Sentiment: Wall Street analysts overwhelmingly initiated coverage with bullish ratings. Jefferies, UBS and Bank of America each assigned a Buy rating, with price targets of $29, $28 and $27, respectively. Jersey Mike's gets initial Buy ratings across major banks
• Positive Sentiment: Additional firms—including Truist, Mizuho, Piper Sandler, Morgan Stanley, Loop Capital and Evercore—also issued Buy, Outperform or Overweight ratings. Published targets ranged from $26 to $40, all above the company’s recent trading level, signaling substantial expected upside.
• Positive Sentiment: Analysts highlighted Jersey Mike’s scalable, high-margin franchise model, strong same-store sales potential and a long runway for domestic and international restaurant expansion. Bank of America also cited visible drivers for continued market-share gains. Jersey Mike's Subs Has Visible Same-Store Sales Drivers for Continued Share Gains
• Positive Sentiment: UBS pointed to the company’s solid operating track record and sizable growth opportunity, while other analysts suggested Jersey Mike’s could eventually challenge Subway’s position as the leading sandwich chain. Jersey Mike's Subs Has Solid Track Record, Facing Sizable Growth
• Neutral Sentiment: The concentration of new ratings immediately after the IPO quiet period may have already been anticipated by investors, potentially limiting the short-term reaction. JMKE remains a newly public company, so trading volatility and valuation sensitivity are likely to remain elevated.

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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