Truist Financial Issues Pessimistic Forecast for Jersey Mike's (NYSE:JMKE) Stock Price

Key Points

• Truist Financial lowered Jersey Mike’s price target from $30 to $27 while maintaining a Buy rating, implying roughly 50% upside from the stock’s $18.04 price.
• Analyst sentiment remains broadly favorable, with 21 Buy, five Hold and one Sell rating; the consensus is Moderate Buy with an average target of $27.39.
• Jersey Mike’s exceeded quarterly earnings expectations, reporting adjusted EPS of $0.23 versus $0.16 expected and revenue of $209 million, up 10% year over year, though comparable-store sales remain a concern.

Jersey Mike's (NYSE:JMKE - Get Free Report) had its price target lowered by equities researchers at Truist Financial from $30.00 to $27.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 49.66% from the stock's current price.

Other equities analysts also recently issued reports about the company. TD Cowen reissued a "buy" rating and set a $22.00 price objective on shares of Jersey Mike's in a research report on Wednesday. Wolfe Research started coverage on shares of Jersey Mike's in a report on Monday, August 24th. They issued a "peer perform" rating on the stock. Weiss Ratings started coverage on shares of Jersey Mike's in a research note on Monday. They issued a "sell (d)" rating for the company. Melius Research initiated coverage on shares of Jersey Mike's in a report on Thursday, July 30th. They set a "buy" rating and a $30.00 price target for the company. Finally, Jefferies Financial Group dropped their price objective on shares of Jersey Mike's from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 29th. Twenty-one 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $27.39.

Jersey Mike's Trading Up 3.5%

NYSE:JMKE traded up $0.61 during midday trading on Thursday, reaching $18.04. The company had a trading volume of 1,483,011 shares, compared to its average volume of 3,239,367. Jersey Mike's has a 12-month low of $15.96 and a 12-month high of $24.99. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $19.19.

Jersey Mike's (NYSE:JMKE - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.07. The company had revenue of $209.00 million for the quarter. The company's quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that Jersey Mike's will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Jersey Mike's

In related news, COO Stacy Peterson purchased 15,000 shares of the company's stock in a transaction on Friday, July 31st. The shares were bought 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. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares in the company, valued at approximately $3,139,823.15. The trade was a 94.71% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have acquired 31,584 shares of company stock worth $726,432 and have sold 9,938,318 shares worth $217,152,248.

Jersey Mike's News Roundup

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

• Positive Sentiment: Q3 earnings exceeded expectations: Adjusted EPS was $0.23 versus the $0.16 consensus estimate, while revenue rose 10% year over year to $209 million. Jersey Mike's Q3 earnings report
• Positive Sentiment: Growth and operating initiatives remain supportive: Digital sales reached 43% of third-quarter revenue, same-store sales increased 3%, and management expects at least 20% adjusted EBITDA growth in 2026. Jersey Mike's long-term investor takeaways
• Positive Sentiment: Capital returns could bolster sentiment: Jersey Mike’s 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. Jersey Mike's Q3 results, buyback and dividend
• Neutral Sentiment: Analyst views remain constructive but more cautious: TD Cowen reaffirmed a Buy rating with a $22 target, while Stifel maintained Buy at $25. Wells Fargo lowered its target to $21 and assigned an Equal Weight rating. All three targets remain above the current trading level. Wells Fargo Jersey Mike's rating
• Negative Sentiment: Comparable-store sales were a concern: Although sales increased, same-store performance disappointed expectations, raising questions about customer demand and the pace of organic growth. Jersey Mike's comparable-store sales report
• Negative Sentiment: Price targets were reduced: Wells Fargo cut its target by $4 and Stifel lowered its target by $2, signaling that analysts see less near-term upside despite retaining generally favorable ratings.

Jersey Mike's Company Profile

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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