TD Cowen Reaffirms Buy Rating for Jersey Mike's (NYSE:JMKE)

Key Points

• TD Cowen reaffirmed its Buy rating on Jersey Mike’s and set a $22 price target, implying 26.13% upside from the prior close. Overall, analysts rate the stock “Moderate Buy,” with an average target of $27.78.
• 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.
• Despite strong earnings and revenue growth, comparable-store sales have raised concerns about slowing momentum. Insiders bought shares recently, but insider selling during the last quarter was substantially larger than insider purchases.

Jersey Mike's (NYSE:JMKE - Get Free Report)'s stock had its "buy" rating restated by stock analysts at TD Cowen in a research note issued on Wednesday, Benzinga reports. They presently have a $22.00 target price on the stock. TD Cowen's price target suggests a potential upside of 26.13% from the stock's previous close.

Several other equities research analysts also recently issued reports on the company. Evercore assumed coverage on Jersey Mike's in a research report on Monday, August 24th. They issued an "outperform" rating and a $28.00 price target on the stock. Weiss Ratings began coverage on Jersey Mike's in a research report on Monday. They set a "sell (d)" rating for the company. BTIG Research reissued a "buy" rating and set a $28.00 price objective on shares of Jersey Mike's in a research report on Thursday, September 10th. Wolfe Research assumed coverage on Jersey Mike's in a research note on Monday, August 24th. They set a "peer perform" rating for the company. Finally, Sanford C. Bernstein raised their target price on Jersey Mike's from $26.00 to $27.00 and gave the company a "market perform" rating in a report on Thursday, September 10th. Twenty-one research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $27.78.

Jersey Mike's Price Performance

NYSE:JMKE opened at $17.44 on Wednesday. The company's fifty day simple moving average is $19.19. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36. Jersey Mike's has a 1-year low of $15.96 and a 1-year high of $24.99.

Jersey Mike's (NYSE:JMKE - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.07. The business had revenue of $209.00 million for the quarter. Jersey Mike's's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts predict that Jersey Mike's will post 0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Stacy Peterson purchased 15,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the purchase, the chief operating officer directly owned 15,000 shares of the company's stock, valued at approximately $345,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michele Allen purchased 3,000 shares of the business's stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $23.00 per share, with a total value of $69,000.00. Following the acquisition, the chief financial officer owned 1,500 shares in the company, valued at approximately $34,500. This 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 purchased 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 EPS of $0.23, beating the $0.16 consensus estimate, while revenue rose 10% year over year to $209 million. Earnings Flash
• Positive Sentiment: Management expects at least 20% adjusted EBITDA growth in 2026, signaling confidence in profitability and operating momentum. EBITDA Outlook and Buyback
• Positive Sentiment: The board authorized a $100 million share-repurchase program and declared a special dividend of $0.35 per share, payable November 19 to shareholders of record November 5. These actions may support per-share value and improve investor sentiment. Fiscal Results, Buyback and Dividend
• Positive Sentiment: Digital orders accounted for 43% of third-quarter revenue, while same-store sales still grew 3% year over year, highlighting continued customer engagement and digital adoption. Three Key Takeaways
• Neutral Sentiment: One valuation analysis argued that Jersey Mike’s could be substantially undervalued—potentially 97% below estimated fair value—but that conclusion depends on the model’s assumptions and is not a company forecast. Fair Value Analysis
• Negative Sentiment: Although revenue and adjusted EPS exceeded estimates, comparable-store sales were viewed as disappointing, raising concerns about slowing underlying traffic and sales momentum. 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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