Jersey Mike’s (NYSE:JMKE) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Jersey Mike’s (NYSE:JMKE) to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on the company. Bank of America initiated coverage on Jersey Mike’s in a research report on Monday. They issued a “buy” rating and a $27.00 price objective for the company. Wolfe Research initiated coverage on Jersey Mike’s in a report on Monday. They set a “peer perform” rating on the stock. UBS Group set a $27.00 target price on Jersey Mike’s and gave the company a “buy” rating in a research note on Monday. Guggenheim began coverage on Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $28.00 price target for the company. Finally, Sanford C. Bernstein started coverage on shares of Jersey Mike’s in a research report on Monday. They set a “market perform” rating and a $26.00 price target on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Jersey Mike’s presently has an average rating of “Moderate Buy” and a consensus target price of $28.35.

Jersey Mike’s Stock Performance

Shares of JMKE opened at $22.36 on Tuesday. Jersey Mike’s has a one year low of $20.63 and a one year high of $24.99.

Insider Transactions at Jersey Mike’s

In other news, COO Stacy Peterson acquired 15,000 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the transaction, the chief operating officer owned 15,000 shares of the company’s stock, valued at approximately $345,000. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michele Allen acquired 10,000 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 10,043 shares in the company, valued at approximately $230,989. The trade was a 23,255.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 31,584 shares of company stock worth $726,432 and have sold 9,556,184 shares worth $208,802,620.

Jersey Mike’s News Summary

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

• Positive Sentiment: Several firms initiated coverage with favorable views. Tigress Financial and Jefferies assigned “buy” ratings with $29 price targets, while Raymond James and RBC issued “moderate buy” ratings with targets of $29 and $28, respectively. These targets imply meaningful upside from recent trading levels. Benzinga analyst coverage reports
• Positive Sentiment: The initial coverage campaign includes major firms such as Morgan Stanley, Deutsche Bank, Mizuho, Stifel, TD Cowen, Piper Sandler, Baird, BTIG, Bernstein, Guggenheim and Truist. The concentrated analyst attention may improve institutional awareness and support the stock’s valuation. Jersey Mike’s analyst coverage reports
• Positive Sentiment: Goldman Sachs set a $26 target with a “neutral” rating, and Wells Fargo set a $25 target with an “equal weight” rating. Although less bullish, both targets remain above recent trading levels and establish valuation support. Goldman Sachs and Wells Fargo coverage
• Neutral Sentiment: Analysts have suggested Jersey Mike’s could eventually challenge Subway as the leading sandwich chain, reinforcing the company’s growth narrative, but the claim is prospective rather than a new operating or financial announcement. Jersey Mike’s could overtake Subway article
• Negative Sentiment: Blackstone II Holdings L.P. and Submarine Buyer LLC each reported selling 2,572,560 shares at an average price of $21.85, reducing their positions by 94.71%. The transactions totaled about $56.2 million per filing and could pressure the stock or raise concerns about insider confidence. SEC shareholder sale filing
• Negative Sentiment: Short interest rose 92.2% to 5.57 million shares as of August 14. While the short ratio remains only 1.6 days and 1.4% of shares are short, the increase signals growing bearish positioning.

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.