Jersey Mike’s (NYSE:JMKE) Stock Gets Price Target Reduction from TD Cowen

Jersey Mike’s (NYSE:JMKE) had its price objective cut by TD Cowen from $26.00 to $22.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on the company. Loop Capital began coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued a “buy” rating and a $40.00 target price for the company. Guggenheim increased their price objective on Jersey Mike’s from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, September 11th. William Blair reiterated an “outperform” rating on shares of Jersey Mike’s in a research report on Wednesday, September 9th. Morgan Stanley began coverage on Jersey Mike’s in a research report on Monday, August 24th. They set an “overweight” rating and a $29.00 price objective for the company. Finally, Tigress Financial upped their price objective on shares of Jersey Mike’s from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.91.

Jersey Mike’s Stock Performance

Shares of JMKE stock opened at $17.65 on Wednesday. Jersey Mike’s has a 12-month low of $15.96 and a 12-month high of $24.99. 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 business’s 50 day moving average is $20.51.

Jersey Mike’s (NYSE:JMKE) last issued 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 for the quarter. On average, sell-side analysts forecast that Jersey Mike’s will post 0.65 EPS for the current year.

Insider Activity at Jersey Mike’s

In other Jersey Mike’s news, COO Stacy Peterson acquired 15,000 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the transaction, the chief operating officer directly owned 15,000 shares of the company’s stock, valued at $345,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of Jersey Mike’s stock in a transaction that occurred on Tuesday, August 25th. The stock was 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 owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 31,584 shares of company stock worth $726,432 and have sold 9,938,318 shares worth $217,152,248.

About Jersey Mike’s

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.