Jersey Mike's (NYSE:JMKE) Stock Has Average Price Target of $27.91

Key Points

• Analyst sentiment is moderately positive: Twenty-one of 26 brokerages rate Jersey Mike’s a buy, while five recommend holding the stock. The average 12-month price target is $27.91.
• Shares are trading below analyst targets: JMKE opened at $17.66, down 0.2%, with a 12-month range of $15.96 to $24.99. Several analysts recently lowered their targets, although ratings remained positive.
• Insider activity was mixed: The CFO bought 3,000 shares at $23 each, while Abu Dhabi Investment Authority sold 382,134 shares at an average of $21.85; overall, insiders sold substantially more stock than they bought during the quarter.

Shares of Jersey Mike's (NYSE:JMKE - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-six brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $27.91.

JMKE has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of Jersey Mike's from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Tuesday, September 29th. TD Cowen lowered their target price on shares of Jersey Mike's from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, October 7th. UBS Group reaffirmed an "overweight" rating and issued a $24.00 price target on shares of Jersey Mike's in a research report on Tuesday, September 29th. Loop Capital assumed coverage on shares of Jersey Mike's in a research report on Monday, August 24th. They issued a "buy" rating and a $40.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price target on Jersey Mike's from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, September 10th.

Insider Transactions at Jersey Mike's

In related news, CFO Michele Allen acquired 3,000 shares of the stock in a transaction dated 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 completion of the purchase, the chief financial officer directly owned 1,500 shares in the company, valued at $34,500. This trade represents a -200.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $8,349,627.90. Following the completion of the transaction, the insider owned 35,732,138 shares in the company, valued at $780,747,215.30. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders bought 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.

Jersey Mike's Trading Down 0.2%

Shares of JMKE opened at $17.66 on Tuesday. Jersey Mike's has a 12-month low of $15.96 and a 12-month high of $24.99. The stock has a fifty day moving average price of $20.37. 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 (NYSE:JMKE - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $3,700.00 EPS for the quarter. The business had revenue of $208.00 million for the quarter. On average, equities research analysts expect that Jersey Mike's will post 0.65 EPS for the current fiscal year.

Jersey Mike's Company Profile

Jersey Mike's is an American fast-casual restaurant company best known for submarine sandwiches made to order. Its menu typically includes cold subs, cheesesteaks, wraps, salads, sides, beverages and catering options. The brand emphasizes freshly sliced meats and cheeses, along with its signature “Mike's Way” preparation featuring onions, lettuce, tomatoes, oil, vinegar and spices.

The company traces its roots to 1956, when the original Mike's Submarines opened in Point Pleasant, New Jersey.

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