Jersey Mike’s’ (JMKE) “Buy” Rating Reiterated at TD Cowen

TD Cowen restated their buy rating on shares of Jersey Mike’s (NYSE:JMKE) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $26.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. BTIG Research started coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set a “buy” rating and a $28.00 target price for the company. Tigress Financial assumed coverage on Jersey Mike’s in a report on Wednesday, August 26th. They set a “buy” rating and a $29.00 price target for the company. JPMorgan Chase & Co. began coverage on Jersey Mike’s in a research report on Monday, August 24th. They set an “overweight” rating and a $26.00 price objective for the company. Sanford C. Bernstein began coverage on Jersey Mike’s in a report on Monday, August 24th. They issued a “market perform” rating and a $26.00 price objective on the stock. Finally, Wolfe Research initiated coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set a “peer perform” rating on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.52.

Jersey Mike’s Trading Down 1.0%

JMKE stock opened at $21.65 on Wednesday. Jersey Mike’s has a 12-month low of $19.86 and a 12-month high of $24.99.

Insider Buying and Selling

In related news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the completion of the sale, the insider directly owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michele Allen acquired 10,000 shares of the 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 $230,000.00. Following the completion of the transaction, the chief financial officer owned 10,043 shares in the company, valued at $230,989. The trade was a 23,255.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

Key Jersey Mike’s News

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

• Positive Sentiment: Multiple analysts raised price targets. Tigress Financial increased its target to $30 from $29 and maintained a Buy rating. Guggenheim raised its target to $29 from $28, while Royal Bank of Canada lifted its target to $29 from $28. Bank of America also raised its target to $29 from $27. Tigress Financial Adjusts Jersey Mike’s Subs Price Target
• Positive Sentiment: Analysts remain constructive after the second-quarter report. BTIG reaffirmed its Buy rating with a $28 target, TD Cowen reiterated Buy, and Bernstein raised its target to $27 while maintaining a Market Perform rating. The revisions reflect confidence in Jersey Mike’s earnings growth and expansion outlook. Analysts Raise Their Forecasts on Jersey Mike’s Subs After Q2 Results
• Positive Sentiment: Call-option activity was elevated. Reports of unusually high-volume purchases of JMKE call options indicate that some traders are positioning for further upside, although options activity can be speculative and does not guarantee a sustained rally. Stock Traders Buy High Volume of Call Options on Jersey Mike’s
• Neutral Sentiment: Valuation remains a key consideration. Most analysts see substantial upside to targets between $27 and $30, but the stock’s weaker session suggests investors may be digesting the post-earnings outlook rather than immediately rewarding the revisions.
• Negative Sentiment: Mizuho reduced its price target to $29 from $31, although it retained an Outperform rating. The cut introduces a more cautious view on near-term upside compared with other analysts.

Jersey Mike’s Company Profile

Jersey Mike’s is a fast-casual restaurant company specializing in made-to-order submarine sandwiches. Its menu includes cold subs, cheesesteaks, wraps, salads, sides and beverages, with sandwiches prepared using sliced-to-order meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” dressing of onions, lettuce, tomatoes, vinegar and olive oil.

The business traces its roots to a neighborhood sub shop in Point Pleasant, New Jersey, which was established in 1956. Peter Cancro acquired the shop as a teenager in 1971 and developed it into the Jersey Mike’s brand.