Jersey Mike’s (NYSE:JMKE) Upgraded by Raymond James Financial to “Moderate Buy” Rating

Raymond James Financial upgraded shares of Jersey Mike’s (NYSE:JMKE) to a moderate buy rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $29.00 target price on the stock.

Several other equities analysts have also issued reports on JMKE. Stifel Nicolaus assumed coverage on shares of Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $27.00 target price on the stock. Royal Bank Of Canada initiated coverage on Jersey Mike’s in a research note on Monday. They issued an “outperform” rating and a $28.00 price objective on the stock. Wells Fargo & Company began coverage on Jersey Mike’s in a report on Monday. They issued an “equal weight” rating and a $25.00 target price for the company. Jefferies Financial Group started coverage on Jersey Mike’s in a report on Monday. They set a “buy” rating and a $29.00 price target on the stock. Finally, Wolfe Research started coverage on shares of Jersey Mike’s in a research note on Monday. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.32.

Jersey Mike’s Trading Down 5.7%

Shares of JMKE stock opened at $22.18 on Monday. 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, CFO Michele Allen acquired 10,000 shares of the firm’s stock in a transaction dated 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 acquisition, the chief financial officer directly owned 10,043 shares in the company, valued at $230,989. The trade was a 23,255.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO James J. Whalen bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $23.00 per share, for a total transaction of $57,500.00. Following the completion of the acquisition, the chief accounting officer owned 2,500 shares in the company, valued at $57,500. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 31,584 shares of company stock worth $726,432 in the last three months.

Jersey Mike’s News Roundup

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

• Positive Sentiment: Multiple firms, including Guggenheim, Truist Financial, Deutsche Bank, Mizuho, Bernstein, Stifel, TD Cowen, BTIG Research, Piper Sandler, Baird and Morgan Stanley, initiated or expanded coverage of Jersey Mike’s. The wave of new research increases institutional visibility and is broadly favorable for the shares. Guggenheim initiates coverage
• Positive Sentiment: Published analyst targets generally imply substantial upside from the stock’s recent trading level. Recent bullish views include Truist’s $30 target, Mizuho’s $31 target, Morgan Stanley and Piper Sandler at $29, and several firms at $27-$28. Goldman Sachs was more cautious with a neutral rating, but still set a $26 target. Jersey Mike’s receives initial analyst ratings
• Positive Sentiment: Analysts say Jersey Mike’s could continue taking market share from Subway, citing visible same-store sales drivers, a strong operating track record and a long runway for restaurant growth. These factors reinforce the investment case for the newly public company. Jersey Mike’s could overtake Subway
• Neutral Sentiment: The large number of coverage initiations follows the end of the IPO quiet period, making the recent analyst activity partly an expected post-IPO event rather than a new operating announcement. Bull ratings after the IPO quiet period
• Negative Sentiment: Short interest rose 92.2% to 5.57 million shares in the first half of August. Although short interest equals only about 1.4% of shares outstanding and represents 1.6 days of average trading volume, the increase signals growing skepticism and could add volatility.

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.