Jersey Mike’s (NYSE:JMKE) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Jersey Mike’s (NYSE:JMKE) had its target price lifted by equities researchers at Sanford C. Bernstein from $26.00 to $27.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s target price would indicate a potential upside of 22.51% from the company’s previous close.

Other research analysts also recently issued reports about the company. Zacks Research upgraded Jersey Mike’s to a “hold” rating in a report on Tuesday, August 25th. Loop Capital started coverage on Jersey Mike’s in a report on Monday, August 24th. They set a “buy” rating and a $40.00 price objective on the stock. Robert W. Baird started coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued an “outperform” rating and a $27.00 price objective for the company. Guggenheim started coverage on Jersey Mike’s in a research note on Monday, August 24th. They issued a “buy” rating and a $28.00 target price for the company. Finally, UBS Group reiterated a “buy” rating on shares of Jersey Mike’s in a research report on Wednesday. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.48.

Jersey Mike’s Price Performance

Shares of NYSE:JMKE traded down $0.33 during trading on Thursday, reaching $22.04. The stock had a trading volume of 791,049 shares, compared to its average volume of 3,099,506. Jersey Mike’s has a fifty-two week low of $19.86 and a fifty-two week high of $24.99.

Insider Transactions at Jersey Mike’s

In other news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company’s stock in a transaction dated 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 sale, the insider owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This represents a 94.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $8,349,627.90. Following the sale, the insider owned 35,732,138 shares in the company, valued at approximately $780,747,215.30. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

Key Stories Impacting Jersey Mike’s

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

• Positive Sentiment: Encouraging operating growth: Second-quarter same-store sales rose 2.3%, systemwide sales increased 10% to $1.21 billion, and revenue climbed 10% to $208 million. Jersey Mike’s also opened 83 stores, lifting net unit growth to 8.1% year over year. Jersey Mike’s Reports Second Quarter Financial Results
• Positive Sentiment: Strong outlook: Management projected full-year same-store sales growth of 2.5% to 3.0% and expects third-quarter growth of 3.0% to 4.0%, suggesting accelerating momentum. Adjusted profit also exceeded analyst expectations. Jersey Mike’s profit beats estimates, shares jump on strong guidance
• Positive Sentiment: Analyst optimism: Bank of America raised its price target to $29 and initiated a “buy” rating, while BTIG reaffirmed “buy” with a $28 target. TD Cowen also maintained its “buy” rating with a $26 target, reinforcing bullish sentiment.
• Positive Sentiment: Speculative demand: Traders purchased 4,490 call options, substantially above the stock’s typical daily call-option volume, indicating increased bullish positioning.
• Neutral Sentiment: Growth-versus-valuation debate: Recent analysis recognizes Jersey Mike’s expansion potential but questions whether the current valuation fully reflects that growth, creating a potential reason for investors to wait. Jersey Mike’s: Growth Runway Is Real, But I Prefer To Wait
• Negative Sentiment: Profitability concerns: Net income declined from the prior-year period, and quarterly revenue was slightly below expectations. Separately, reported insider activity showed sales and no open-market purchases over the past six months, which may weigh on sentiment.

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.