Jersey Mike’s (NYSE:JMKE) Stock Has Consensus Target Price of $26.91 According to Brokerages

Jersey Mike’s (NYSE:JMKE) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.91.

Several research firms have recently weighed in on JMKE. Loop Capital initiated coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued a “buy” rating and a $40.00 price target on the stock. Raymond James Financial decreased their price target on Jersey Mike’s from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Deutsche Bank Aktiengesellschaft began coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued a “buy” rating and a $27.00 price objective for the company. Royal Bank Of Canada decreased their price objective on shares of Jersey Mike’s from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Finally, William Blair reiterated an “outperform” rating on shares of Jersey Mike’s in a research note on Wednesday, September 9th.

Insider Buying and Selling

In other Jersey Mike’s news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm’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 sale, the insider owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This trade represents a 94.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Abu Dhabi Investment Authority sold 382,134 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 transaction of $8,349,627.90. Following the completion of the transaction, the insider owned 35,732,138 shares of the company’s stock, valued at approximately $780,747,215.30. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,527,254 shares of company stock valued at $120,770,500 over the last quarter.

Jersey Mike’s Stock Down 4.0%

Shares of NYSE JMKE opened at $19.02 on Friday. The company has a 50-day simple moving average of $18.70. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.81 and a current ratio of 2.81. Jersey Mike’s has a 1 year low of $15.96 and a 1 year high of $24.99.

Jersey Mike’s (NYSE:JMKE) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. The firm had revenue of $209.00 million for the quarter. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts predict that Jersey Mike’s will post 0.64 earnings per share for the current fiscal year.

Jersey Mike’s Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, November 5th.

Jersey Mike’s Company Profile

Jersey Mike’s, commonly known as Jersey Mike’s Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike’s Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” preparation.

Jersey Mike’s traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.