Jersey Mike’s (NYSE:JMKE) Raised to Moderate Buy at Raymond James Financial

Jersey Mike’s (NYSE:JMKE) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a research report issued on Monday,Zacks.com reports.

JMKE has been the subject of several other research reports. Loop Capital initiated coverage on Jersey Mike’s in a report on Monday. They set a “buy” rating and a $40.00 price target for the company. Melius Research initiated coverage on shares of Jersey Mike’s in a research note on Thursday, July 30th. They set a “buy” rating and a $30.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Jersey Mike’s in a report on Monday. They issued an “overweight” rating and a $26.00 price target on the stock. BTIG Research assumed coverage on Jersey Mike’s in a report on Monday. They set a “buy” rating and a $28.00 price objective for the company. Finally, Wall Street Zen raised Jersey Mike’s to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.32.

Jersey Mike’s Stock Performance

NYSE:JMKE opened at $22.18 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 other Jersey Mike’s news, CAO James J. Whalen purchased 2,500 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $23.00 per share, for a total transaction of $57,500.00. Following the completion of the transaction, the chief accounting officer owned 2,500 shares in the company, valued at approximately $57,500. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michele Allen purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price 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 $34,500. This trade represents a -200.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 31,584 shares of company stock worth $726,432.

Key Headlines Impacting Jersey Mike’s

Here are the key news stories impacting Jersey Mike’s this week:

• Positive Sentiment: Multiple firms, including Guggenheim, Truist Financial, Deutsche Bank, Mizuho, Bernstein, Stifel, TD Cowen, BTIG Research, Piper Sandler, Baird and Morgan Stanley, initiated or expanded coverage of Jersey Mike’s. The wave of new research increases institutional visibility and is broadly favorable for the shares. Guggenheim initiates coverage
• Positive Sentiment: Published analyst targets generally imply substantial upside from the stock’s recent trading level. Recent bullish views include Truist’s $30 target, Mizuho’s $31 target, Morgan Stanley and Piper Sandler at $29, and several firms at $27-$28. Goldman Sachs was more cautious with a neutral rating, but still set a $26 target. Jersey Mike’s receives initial analyst ratings
• Positive Sentiment: Analysts say Jersey Mike’s could continue taking market share from Subway, citing visible same-store sales drivers, a strong operating track record and a long runway for restaurant growth. These factors reinforce the investment case for the newly public company. Jersey Mike’s could overtake Subway
• Neutral Sentiment: The large number of coverage initiations follows the end of the IPO quiet period, making the recent analyst activity partly an expected post-IPO event rather than a new operating announcement. Bull ratings after the IPO quiet period
• Negative Sentiment: Short interest rose 92.2% to 5.57 million shares in the first half of August. Although short interest equals only about 1.4% of shares outstanding and represents 1.6 days of average trading volume, the increase signals growing skepticism and could add volatility.

Jersey Mike’s Company Profile

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.