Jersey Mike’s (NYSE:JMKE) Earns Buy Rating from Analysts at Tigress Financial

Stock analysts at Tigress Financial assumed coverage on shares of Jersey Mike’s (NYSE:JMKE) in a report issued on Wednesday. The firm set a “buy” rating and a $29.00 price target on the stock. Tigress Financial’s price target points to a potential upside of 29.14% from the company’s previous close.

A number of other brokerages have also commented on JMKE. Royal Bank Of Canada assumed coverage on Jersey Mike’s in a report on Monday. They set an “outperform” rating and a $28.00 price target on the stock. Bank of America began coverage on Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $27.00 price target for the company. Wells Fargo & Company started coverage on Jersey Mike’s in a research report on Monday. They set an “equal weight” rating and a $25.00 price target on the stock. 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 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Jersey Mike’s in a report on Tuesday. They issued a “neutral” rating and a $26.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.35.

Jersey Mike’s Trading Up 1.1%

NYSE:JMKE traded up $0.25 on Wednesday, hitting $22.46. The stock had a trading volume of 432,816 shares, compared to its average volume of 3,170,971. Jersey Mike’s has a 1 year low of $20.63 and a 1 year high of $24.99.

Insiders Place Their Bets

In related news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $21.85, for a total value of $96,381,748.40. Following the completion of the sale, the insider owned 36,114,272 shares of the company’s stock, valued at $789,096,843.20. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michele Allen purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $23.00 per share, with a total value of $69,000.00. Following the purchase, the chief financial officer directly owned 1,500 shares of the company’s stock, valued at $34,500. This trade represents a -200.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 31,584 shares of company stock valued at $726,432 over the last three months.

Jersey Mike’s News Roundup

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

• Positive Sentiment: Raymond James initiated coverage with a “moderate buy” rating and a $29 price target, implying substantial upside from the reference price. This adds another bullish analyst view shortly after the company’s IPO. Raymond James initiates coverage on Jersey Mike’s
• Positive Sentiment: Several major firms initiated coverage, including Guggenheim, Truist, Deutsche Bank, Mizuho, Bernstein, Stifel, TD Cowen, BTIG, Piper Sandler, Baird and Morgan Stanley. The breadth of coverage may improve institutional awareness and support demand for JMKE shares. Guggenheim coverage
• Positive Sentiment: Recent analysts have set targets mostly above the current trading level: Truist at $30, RBC at $28, UBS at $27 and Deutsche Bank at $27. Jefferies also upgraded the stock to “strong buy,” reinforcing the bullish outlook. Analyst coverage and Jersey Mike’s growth outlook
• Positive Sentiment: Analysts see a scalable, high-margin franchise model, continued same-store sales gains and a long runway for domestic and international expansion. Some believe Jersey Mike’s could eventually overtake Subway as the leading sandwich chain. Bank of America growth outlook
• Neutral Sentiment: Goldman Sachs initiated coverage with a “neutral” rating and a $26 price target, while Wells Fargo upgraded the stock to “hold.” These views remain constructive on valuation but suggest the recent rally could limit near-term upside.
• Negative Sentiment: Short interest rose 92.2% to 5.6 million shares as of August 14. Although short interest represents only about 1.4% of shares outstanding, the increase signals that some investors are betting against the newly public company.

About Jersey Mike’s

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.