Jersey Mike's (NYSE:JMKE) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Jersey Mike’s has a “Moderate Buy” consensus among 18 analysts, with 15 buy ratings and three holds. The average 12-month price target is $27.71, compared with the stock’s $23.80 opening price.
• Recent coverage has been broadly positive: Mizuho set a $31 target and “outperform” rating, while Piper Sandler, Morgan Stanley, BTIG Research and others issued bullish ratings with targets ranging from $27 to $29.
• Insider activity was mixed: Abu Dhabi Investment Authority sold 4.41 million shares worth about $96.4 million, while COO Stacy Peterson bought 15,000 shares for $345,000. The stock remains near its 52-week high of $24.99.

Shares of Jersey Mike's (NYSE:JMKE - Get Free Report) have earned an average rating of "Moderate Buy" from the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $27.7143.

A number of analysts have weighed in on the company. Jefferies Financial Group started coverage on Jersey Mike's in a research report on Monday. They set a "positive" rating for the company. Wall Street Zen raised Jersey Mike's to a "hold" rating in a report on Saturday, August 8th. UBS Group set a $27.00 price target on Jersey Mike's in a research note on Monday. BTIG Research started coverage on Jersey Mike's in a report on Monday. They set a "buy" rating and a $28.00 price target for the company. Finally, Piper Sandler began coverage on shares of Jersey Mike's in a research report on Monday. They issued an "overweight" rating and a $29.00 price objective on the stock.

Jersey Mike's News Roundup

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

Insider Activity

In other 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 transaction of $96,381,748.40. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stacy Peterson purchased 15,000 shares of the company's stock in a transaction dated Friday, July 31st. The shares were purchased 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 trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 31,584 shares of company stock worth $726,432 in the last 90 days.

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.

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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