Jersey Mike’s (NYSE:JMKE) Rating Increased to Strong-Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Jersey Mike’s (NYSE:JMKE) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other analysts also recently issued research reports about the company. Raymond James Financial began coverage on Jersey Mike’s in a research note on Monday. They set an “outperform” rating and a $29.00 price objective on the stock. BTIG Research assumed coverage on Jersey Mike’s in a research note on Monday. They issued a “buy” rating and a $28.00 target price for the company. William Blair initiated coverage on Jersey Mike’s in a report on Monday. They issued an “outperform” rating for the company. Loop Capital started coverage on Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $40.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on Jersey Mike’s in a report on Monday. They set an “outperform” rating and a $28.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.43.

Jersey Mike’s Price Performance

Shares of NYSE JMKE opened at $23.55 on Monday. Jersey Mike’s has a twelve month low of $20.63 and a twelve month high of $24.99.

Insider Activity at Jersey Mike’s

In other news, CAO James J. Whalen bought 2,500 shares of the stock in a transaction 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 acquisition, the chief accounting officer owned 2,500 shares in the company, valued at approximately $57,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of Jersey Mike’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40. Following the completion of the sale, the insider directly owned 36,114,272 shares in the company, valued at $789,096,843.20. This represents a 10.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 31,584 shares of company stock valued at $726,432.

Jersey Mike’s News Summary

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

• Positive Sentiment: Analyst sentiment remains strongly favorable. Jefferies upgraded Jersey Mike’s to “strong buy,” Royal Bank of Canada raised its view to “moderate buy,” and Wells Fargo initiated an upgrade to “hold.” The latest calls add to a large group of firms rating the stock Buy, Outperform, or Overweight. Zacks.com analyst rating coverage
• Positive Sentiment: Initial post-IPO coverage from major banks included price targets ranging from $27 to $29, with UBS at $28 and Bank of America at $27. Loop Capital issued the most aggressive target at $40, indicating that analysts see meaningful upside from the IPO price. Jersey Mike’s gets initial Buy ratings across major banks
• Positive Sentiment: Analysts cited Jersey Mike’s franchise-heavy, high-margin operating model, continued same-store sales opportunities, and substantial domestic and international unit-growth potential. Some analysts believe the chain could eventually challenge Subway’s position as the leading sandwich chain. Jersey Mike’s could overtake Subway as top sandwich chain
• Neutral Sentiment: Wells Fargo’s “hold” rating provides a more cautious counterpoint to the otherwise optimistic coverage, suggesting that some investors may wait for additional public-company results before assigning a higher valuation. Zacks.com rating update

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.