Zacks Research Upgrades Jersey Mike’s (NYSE:JMKE) to Hold

Jersey Mike’s (NYSE:JMKE) was upgraded by equities researchers at Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group began coverage on Jersey Mike’s in a report on Tuesday. They issued a “neutral” rating and a $26.00 price objective on the stock. Truist Financial initiated coverage on Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $30.00 price target for the company. Evercore began coverage on Jersey Mike’s in a research note on Monday. They issued an “outperform” rating and a $28.00 price target on the stock. Guggenheim initiated coverage on Jersey Mike’s in a report on Monday. They set a “buy” rating and a $28.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on Jersey Mike’s in a research report on Monday. They issued an “overweight” rating and a $26.00 price objective for the company. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.35.

Jersey Mike’s Trading Up 0.7%

Shares of NYSE:JMKE opened at $22.36 on Tuesday. Jersey Mike’s has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Insider Buying and Selling

In other Jersey Mike’s news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the company’s stock in a transaction 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 sale, the insider owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. This represents a 94.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were 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 represents a 94.71% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have acquired 31,584 shares of company stock valued at $726,432 and have sold 9,556,184 shares valued at $208,802,620.

Jersey Mike’s News Roundup

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

• Positive Sentiment: Several firms initiated coverage with favorable views. Tigress Financial and Jefferies assigned “buy” ratings with $29 price targets, while Raymond James and RBC issued “moderate buy” ratings with targets of $29 and $28, respectively. These targets imply meaningful upside from recent trading levels. Benzinga analyst coverage reports
• Positive Sentiment: The initial coverage campaign includes major firms such as Morgan Stanley, Deutsche Bank, Mizuho, Stifel, TD Cowen, Piper Sandler, Baird, BTIG, Bernstein, Guggenheim and Truist. The concentrated analyst attention may improve institutional awareness and support the stock’s valuation. Jersey Mike’s analyst coverage reports
• Positive Sentiment: Goldman Sachs set a $26 target with a “neutral” rating, and Wells Fargo set a $25 target with an “equal weight” rating. Although less bullish, both targets remain above recent trading levels and establish valuation support. Goldman Sachs and Wells Fargo coverage
• Neutral Sentiment: Analysts have suggested Jersey Mike’s could eventually challenge Subway as the leading sandwich chain, reinforcing the company’s growth narrative, but the claim is prospective rather than a new operating or financial announcement. Jersey Mike’s could overtake Subway article
• Negative Sentiment: Blackstone II Holdings L.P. and Submarine Buyer LLC each reported selling 2,572,560 shares at an average price of $21.85, reducing their positions by 94.71%. The transactions totaled about $56.2 million per filing and could pressure the stock or raise concerns about insider confidence. SEC shareholder sale filing
• Negative Sentiment: Short interest rose 92.2% to 5.57 million shares as of August 14. While the short ratio remains only 1.6 days and 1.4% of shares are short, the increase signals growing bearish positioning.

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.