Jersey Mike's (NYSE:JMKE) Now Covered by Sanford C. Bernstein

Key Points

• Sanford C. Bernstein initiated coverage of Jersey Mike’s with a “market perform” rating and a $26 price target, implying 9.24% upside from the current 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 a $27.77 average price target.
• Company insiders purchased shares worth approximately $726,432 over the past 90 days, including 15,000 shares bought by the COO and 10,000 by the CFO at $23 per share.

Stock analysts at Sanford C. Bernstein initiated coverage on shares of Jersey Mike's (NYSE:JMKE - Get Free Report) in a research note issued on Monday,Benzinga reports. The brokerage set a "market perform" rating and a $26.00 price target on the stock. Sanford C. Bernstein's price target would indicate a potential upside of 9.24% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada assumed coverage on shares of Jersey Mike's in a research note on Monday. They issued an "outperform" rating and a $28.00 target price on the stock. Jefferies Financial Group started coverage on Jersey Mike's in a report on Monday. They issued a "positive" rating for the company. Wolfe Research began coverage on Jersey Mike's in a research report on Monday. They issued a "peer perform" rating on the stock. Melius Research started coverage on Jersey Mike's in a research note on Thursday, July 30th. They set a "buy" rating and a $30.00 price objective on the stock. Finally, UBS Group set a $27.00 target price on Jersey Mike's in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Jersey Mike's has a consensus rating of "Moderate Buy" and a consensus price target of $27.77.

Jersey Mike's Price Performance

Shares of JMKE stock opened at $23.80 on Monday. Jersey Mike's has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Insider Activity

In other news, COO Stacy Peterson purchased 15,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $23.00 per share, with a total value of $345,000.00. Following the purchase, the chief operating officer directly owned 15,000 shares of the company's stock, valued at approximately $345,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michele Allen acquired 10,000 shares of the business's stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $23.00 per share, for a total transaction of $230,000.00. Following the acquisition, the chief financial officer directly owned 10,043 shares in the company, valued at $230,989. This represents a 23,255.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 31,584 shares of company stock valued at $726,432 over the last ninety days.

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