Jersey Mike’s (NYSE:JMKE) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Jersey Mike’s (NYSE:JMKE) from a sell rating to a hold rating in a report issued on Sunday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird began coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $27.00 price target on the stock. Tigress Financial increased their price objective on shares of Jersey Mike’s from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday. Sanford C. Bernstein raised their price objective on shares of Jersey Mike’s from $26.00 to $27.00 and gave the company a “market perform” rating in a research report on Thursday. Guggenheim lifted 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 note on Friday. Finally, Morgan Stanley assumed coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued an “overweight” rating and a $29.00 target price for the company. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Jersey Mike’s has an average rating of “Moderate Buy” and an average target price of $28.52.

Jersey Mike’s Trading Down 0.3%

Shares of Jersey Mike’s stock opened at $21.65 on Friday. Jersey Mike’s has a 1-year low of $19.86 and a 1-year high of $24.99.

Insiders Place Their Bets

In other news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40. Following the transaction, the insider owned 36,114,272 shares of the company’s stock, valued at approximately $789,096,843.20. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michele Allen bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $23.00 per share, with a total value of $230,000.00. Following the transaction, the chief financial officer owned 10,043 shares of the company’s stock, valued at $230,989. The trade was a 23,255.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

Key Jersey Mike’s News

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

• Positive Sentiment: Multiple analysts raised price targets. Tigress Financial increased its target to $30 from $29 and maintained a Buy rating. Guggenheim raised its target to $29 from $28, while Royal Bank of Canada lifted its target to $29 from $28. Bank of America also raised its target to $29 from $27. Tigress Financial Adjusts Jersey Mike’s Subs Price Target
• Positive Sentiment: Analysts remain constructive after the second-quarter report. BTIG reaffirmed its Buy rating with a $28 target, TD Cowen reiterated Buy, and Bernstein raised its target to $27 while maintaining a Market Perform rating. The revisions reflect confidence in Jersey Mike’s earnings growth and expansion outlook. Analysts Raise Their Forecasts on Jersey Mike’s Subs After Q2 Results
• Positive Sentiment: Call-option activity was elevated. Reports of unusually high-volume purchases of JMKE call options indicate that some traders are positioning for further upside, although options activity can be speculative and does not guarantee a sustained rally. Stock Traders Buy High Volume of Call Options on Jersey Mike’s
• Neutral Sentiment: Valuation remains a key consideration. Most analysts see substantial upside to targets between $27 and $30, but the stock’s weaker session suggests investors may be digesting the post-earnings outlook rather than immediately rewarding the revisions.
• Negative Sentiment: Mizuho reduced its price target to $29 from $31, although it retained an Outperform rating. The cut introduces a more cautious view on near-term upside compared with other analysts.

Jersey Mike’s Company Profile

Jersey Mike’s is a fast-casual restaurant company specializing in made-to-order submarine sandwiches. Its menu includes cold subs, cheesesteaks, wraps, salads, sides and beverages, with sandwiches prepared using sliced-to-order meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” dressing of onions, lettuce, tomatoes, vinegar and olive oil.

The business traces its roots to a neighborhood sub shop in Point Pleasant, New Jersey, which was established in 1956. Peter Cancro acquired the shop as a teenager in 1971 and developed it into the Jersey Mike’s brand.