Jersey Mike's (NYSE:JMKE) Coverage Initiated by Analysts at Robert W. Baird

Key Points

• Robert W. Baird initiated coverage of Jersey Mike’s with an “outperform” rating and a $27 price target, implying approximately 13.45% upside from the stock’s $23.80 price.
• Analyst sentiment is broadly positive: 14 analysts rate the stock a Buy and three rate it a Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $27.77.
• Recent insider activity was mixed: Abu Dhabi Investment Authority sold 4.41 million shares, while Jersey Mike’s COO purchased 15,000 shares; insiders have bought 31,584 shares worth $726,432 over the past 90 days.

Analysts at Robert W. Baird initiated coverage on shares of Jersey Mike's (NYSE:JMKE - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The firm set an "outperform" rating and a $27.00 price target on the stock. Robert W. Baird's price objective points to a potential upside of 13.45% from the stock's current price.

A number of other research analysts also recently commented on the stock. Wall Street Zen raised shares of Jersey Mike's to a "hold" rating in a report on Saturday, August 8th. Mizuho assumed coverage on shares of Jersey Mike's in a research note on Monday. They set an "outperform" rating and a $31.00 price target for the company. UBS Group set a $27.00 target price on Jersey Mike's in a research note on Monday. TD Cowen initiated coverage on Jersey Mike's in a research report on Monday. They issued a "buy" rating and a $26.00 price objective on the stock. Finally, Royal Bank Of Canada began coverage on shares of Jersey Mike's in a report on Monday. They issued an "outperform" rating and a $28.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.77.

Jersey Mike's Price Performance

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

Insider Transactions at Jersey Mike's

In other Jersey Mike's news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $21.85, for a total transaction of $96,381,748.40. Following the transaction, the insider owned 36,114,272 shares of the company's stock, valued at approximately $789,096,843.20. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stacy Peterson acquired 15,000 shares of the company's stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the purchase, the chief operating officer owned 15,000 shares of the company's stock, valued at approximately $345,000. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 31,584 shares of company stock worth $726,432.

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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