Jersey Mike's (NYSE:JMKE) Stock Jumps 4.6% - Should You Buy?

Key Points

• Jersey Mike’s shares rose 4.6% to about $17.53, although trading volume was 94% below the average session volume.
• Analysts remain broadly positive: 21 rate the stock Buy and five rate it Hold, producing a “Moderate Buy” consensus and an average price target of $27.78.
• The company reported $208 million in quarterly revenue, while insider activity was mixed: executives bought shares, but insiders sold nearly 9.94 million shares worth approximately $217.2 million over the past three months.

Jersey Mike's (NYSE:JMKE - Get Free Report) traded up 4.6% during trading on Monday. The stock traded as high as $17.60 and last traded at $17.5340. Approximately 197,720 shares changed hands during trading, a decline of 94% from the average session volume of 3,154,206 shares. The stock had previously closed at $16.76.

Wall Street Analyst Weigh In

JMKE has been the subject of a number of analyst reports. Guggenheim increased their target price on shares of Jersey Mike's from $28.00 to $29.00 and gave the company a "buy" rating in a research report on Friday, September 11th. Raymond James Financial cut their price target on shares of Jersey Mike's from $29.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, October 16th. Truist Financial began coverage on Jersey Mike's in a research report on Monday, August 24th. They set a "buy" rating and a $30.00 price target on the stock. UBS Group reiterated an "outperform" rating on shares of Jersey Mike's in a report on Friday, October 16th. Finally, Jefferies Financial Group decreased their price objective on Jersey Mike's from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Tuesday, September 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $27.78.

Jersey Mike's Trading Down 0.4%

The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $19.47.

Jersey Mike's (NYSE:JMKE - Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $3,700.00 EPS for the quarter. The company had revenue of $208.00 million during the quarter. As a group, research analysts forecast that Jersey Mike's will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Jersey Mike's

In related news, CFO Michele Allen acquired 10,000 shares of the company's 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 $230,000.00. Following the completion of the acquisition, the chief financial officer directly owned 10,043 shares of the company's stock, valued at $230,989. This represents a 23,255.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $56,210,436.00. Following the completion of the transaction, the insider directly owned 143,699 shares in the company, valued at approximately $3,139,823.15. The trade was a 94.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 31,584 shares of company stock worth $726,432 and have sold 9,938,318 shares worth $217,152,248.

Jersey Mike's Company Profile

Jersey Mike's, commonly known as Jersey Mike's Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike's Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company's signature “Mike's Way” preparation.

Jersey Mike's traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.

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