Jersey Mike’s (NYSE:JMKE) Reaches New 1-Year Low – What’s Next?

Jersey Mike’s (NYSE:JMKE)’s stock price hit a new 52-week low during trading on Monday. The company traded as low as $16.85 and last traded at $16.85, with a volume of 5980 shares changing hands. The stock had previously closed at $16.99.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group restated an “overweight” rating and issued a $24.00 target price on shares of Jersey Mike’s in a report on Tuesday. Wolfe Research initiated coverage on Jersey Mike’s in a report on Monday, August 24th. They set a “peer perform” rating for the company. William Blair reiterated an “outperform” rating on shares of Jersey Mike’s in a research report on Wednesday, September 9th. Wells Fargo & Company started coverage on Jersey Mike’s in a research note on Monday, August 24th. They issued an “equal weight” rating and a $25.00 price target on the stock. Finally, Sanford C. Bernstein boosted their price objective on Jersey Mike’s from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, September 10th. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Jersey Mike’s currently has an average rating of “Moderate Buy” and an average target price of $28.09.

Jersey Mike’s Stock Performance

The business has a 50-day moving average of $21.27.

Jersey Mike’s (NYSE:JMKE) last released its earnings results on Wednesday, September 9th. The company reported $3,700.00 earnings per share (EPS) for the quarter. The business had revenue of $208.00 million during the quarter. As a group, sell-side analysts expect that Jersey Mike’s will post 0.65 EPS for the current year.

Insider Activity

In other Jersey Mike’s news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $21.85, for a total transaction of $96,381,748.40. Following the completion of the sale, the insider directly owned 36,114,272 shares in the company, valued at approximately $789,096,843.20. This trade represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stacy Peterson bought 15,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the purchase, the chief operating officer owned 15,000 shares in the company, valued at approximately $345,000. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.

Jersey Mike’s Company Profile

Jersey Mike’s is an American fast-casual restaurant company best known for submarine sandwiches made to order. Its menu typically includes cold subs, cheesesteaks, wraps, salads, sides, beverages and catering options. The brand emphasizes freshly sliced meats and cheeses, along with its signature “Mike’s Way” preparation featuring onions, lettuce, tomatoes, oil, vinegar and spices.

The company traces its roots to 1956, when the original Mike’s Submarines opened in Point Pleasant, New Jersey.