Jersey Mike's (NYSE:JMKE) Now Covered by Analysts at BTIG Research

Key Points

• BTIG Research initiated coverage of Jersey Mike’s with a “buy” rating and a $28 price target, implying 17.65% upside from the previous close.
• Analyst sentiment is broadly positive: 14 analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and average price target of $27.77.
• Company insiders purchased 31,584 shares worth approximately $726,432 during the last quarter, including significant purchases by the COO and CFO.

Equities research analysts at BTIG Research assumed coverage on shares of Jersey Mike's (NYSE:JMKE - Get Free Report) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a "buy" rating and a $28.00 price target on the stock. BTIG Research's price target points to a potential upside of 17.65% from the company's previous close.

A number of other brokerages have also recently issued reports on JMKE. Melius Research began coverage on shares of Jersey Mike's in a research report on Thursday, July 30th. They set a "buy" rating and a $30.00 target price for the company. Wells Fargo & Company assumed coverage on Jersey Mike's in a research note on Monday. They set a "neutral" rating and a $25.00 price objective on the stock. Royal Bank Of Canada began coverage on shares of Jersey Mike's in a research report on Monday. They issued an "outperform" rating and a $28.00 price objective for the company. Jefferies Financial Group assumed coverage on Jersey Mike's in a research note on Monday. They set a "positive" rating on the stock. Finally, Sanford C. Bernstein began coverage on Jersey Mike's in a report on Monday. They issued a "market perform" rating and a $26.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jersey Mike's has a consensus rating of "Moderate Buy" and a consensus price target of $27.77.

Jersey Mike's Stock Performance

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 Jersey Mike's news, COO Stacy Peterson purchased 15,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $345,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michele Allen purchased 10,000 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were bought at an average cost of $23.00 per share, with a total value of $230,000.00. Following the transaction, the chief financial officer directly owned 10,043 shares of the company's stock, valued at approximately $230,989. This represents a 23,255.81% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 31,584 shares of company stock valued at $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source