Jersey Mike's (NYSE:JMKE) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank initiated coverage of Jersey Mike’s with a “buy” rating and a $27 price target, implying 13.45% upside from the prior close.
• Analyst sentiment is broadly positive: 20 analysts rate the stock “buy” and three rate it “hold,” producing a “Moderate Buy” consensus and an average target of $28.43.
• Jersey Mike’s opened at $23.80, while recent insider activity included a major shareholder selling 4.41 million shares and the CFO purchasing 3,000 shares.

Equities researchers at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Jersey Mike's (NYSE:JMKE - Get Free Report) in a research report issued on Monday. The brokerage set a "buy" rating and a $27.00 price target on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 13.45% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley began coverage on Jersey Mike's in a research report on Monday. They issued an "overweight" rating and a $29.00 price objective for the company. Melius Research assumed 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 on the stock. Stifel Nicolaus initiated coverage on shares of Jersey Mike's in a research note on Monday. They set a "buy" rating and a $27.00 price target on the stock. Sanford C. Bernstein started coverage on shares of Jersey Mike's in a report on Monday. They issued a "market perform" rating and a $26.00 price target for the company. Finally, BTIG Research began coverage on shares of Jersey Mike's in a research note on Monday. They issued a "buy" rating and a $28.00 price objective for the company. Twenty 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.com, the company has an average rating of "Moderate Buy" and an average target price of $28.43.

Jersey Mike's Stock Performance

JMKE opened at $23.80 on Monday. Jersey Mike's has a 12 month low of $20.63 and a 12 month high of $24.99.

Insider Buying and Selling at Jersey Mike's

In related news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40. Following the sale, the insider directly owned 36,114,272 shares in the company, valued at $789,096,843.20. The trade was a 10.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michele Allen acquired 3,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $69,000.00. Following the completion of the purchase, the chief financial officer owned 1,500 shares in the company, valued at $34,500. The trade was a -200.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 31,584 shares of company stock valued at $726,432 over the last 90 days.

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

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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