JPMorgan Chase & Co. Begins Coverage on Jersey Mike's (NYSE:JMKE)

Key Points

• JPMorgan initiated coverage of Jersey Mike’s with an “overweight” rating and a $26 price target, implying about 9.2% upside from the stock’s $23.80 opening price.
• Analyst sentiment is broadly positive: 20 analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $28.43.
• Insiders have been buying shares, including purchases by the chief accounting officer and CFO; insiders acquired 31,584 shares worth approximately $726,432 over the past 90 days.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Jersey Mike's (NYSE:JMKE - Get Free Report) in a research report issued on Monday. The firm set an "overweight" rating and a $26.00 price target on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 9.24% from the stock's current price.

A number of other research firms have also commented on JMKE. Piper Sandler initiated coverage on Jersey Mike's in a research report on Monday. They issued an "overweight" rating and a $29.00 price target for the company. UBS Group set a $27.00 price target on shares of Jersey Mike's in a research note on Monday. William Blair initiated coverage on Jersey Mike's in a research note on Monday. They issued an "outperform" rating on the stock. Evercore initiated coverage on shares of Jersey Mike's in a report on Monday. They set an "outperform" rating and a $28.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on Jersey Mike's in a research report on Monday. They set a "buy" rating and a $29.00 price target on the stock. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Jersey Mike's has an average rating of "Moderate Buy" and an average price target of $28.43.

Jersey Mike's Trading Down 0.3%

JMKE opened at $23.80 on Monday. Jersey Mike's has a 1-year low of $20.63 and a 1-year high of $24.99.

Insider Activity

In other news, CAO James J. Whalen purchased 2,500 shares of the company's stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $23.00 per share, with a total value of $57,500.00. Following the transaction, the chief accounting officer directly owned 2,500 shares of the company's stock, valued at approximately $57,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michele Allen acquired 3,000 shares of the stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, with a total value of $69,000.00. Following the completion of the purchase, the chief financial officer owned 1,500 shares of the company's stock, valued at approximately $34,500. The trade was a -200.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 31,584 shares of company stock worth $726,432.

Jersey Mike's News Summary

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.

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.

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