Jersey Mike's (NYSE:JMKE) Coverage Initiated by Analysts at Guggenheim

Key Points

• Guggenheim initiated coverage of Jersey Mike’s with a “buy” rating and a $28 price target, implying 17.65% upside from the stock’s $23.80 opening price.
• Multiple firms also began coverage with favorable ratings, including buy, outperform, and overweight recommendations. Analysts have assigned the stock a consensus “Moderate Buy” rating and an average target price of $28.43.
• Company insiders purchased $726,432 worth of shares over the past 90 days, including significant purchases by the CFO and COO at $23 per share.

Investment analysts at Guggenheim started coverage on shares of Jersey Mike's (NYSE:JMKE - Get Free Report) in a research note issued on Monday. The firm set a "buy" rating and a $28.00 price target on the stock. Guggenheim's price target would indicate a potential upside of 17.65% from the company's current price.

A number of other analysts have also recently weighed in on the stock. Bank of America initiated coverage on shares of Jersey Mike's in a report on Monday. They issued a "buy" rating and a $27.00 price target on the stock. Jefferies Financial Group started coverage on Jersey Mike's in a report on Monday. They issued a "buy" rating and a $29.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Jersey Mike's in a research note on Monday. They issued a "buy" rating and a $27.00 price objective on the stock. William Blair began coverage on Jersey Mike's in a research report on Monday. They set an "outperform" rating for the company. Finally, Wall Street Zen upgraded shares of Jersey Mike's to a "hold" rating in a research report on Saturday, August 8th. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.43.

Jersey Mike's Stock Down 0.3%

NYSE JMKE opened at $23.80 on Monday. Jersey Mike's has a 52-week low of $20.63 and a 52-week high of $24.99.

Insider Activity

In other news, CFO Michele Allen acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $23.00 per share, with a total value of $230,000.00. Following the completion of the acquisition, the chief financial officer owned 10,043 shares of the company's stock, valued at $230,989. This trade represents a 23,255.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stacy Peterson purchased 15,000 shares of the company's 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 $345,000.00. Following the purchase, the chief operating officer owned 15,000 shares in the company, valued at approximately $345,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 31,584 shares of company stock worth $726,432.

Key Jersey Mike's News

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

• Positive Sentiment: Mizuho initiated coverage with an “outperform” rating and a $31 price target, implying approximately 30% potential upside. Benzinga article
• Positive Sentiment: Piper Sandler and Morgan Stanley each rated the stock “overweight” and set $29 price targets, implying roughly 22% upside. Benzinga article
• Positive Sentiment: BTIG Research initiated coverage with a “buy” rating and a $28 target, while Evercore assigned an “outperform” rating with the same target. Benzinga article
• Positive Sentiment: Stifel Nicolaus and Robert W. Baird both issued positive ratings and $27 price targets. Benzinga article
• Neutral Sentiment: Bernstein rated Jersey Mike’s “market perform,” while TD Cowen rated it “buy”; both set $26 targets, the lowest among the new estimates. Benzinga article

Jersey Mike's Company Profile

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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