Jersey Mike’s (NYSE:JMKE) Stock Rating Upgraded by Zacks Research

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

A number of other research analysts also recently issued reports on the stock. Evercore started coverage on shares of Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $28.00 target price on the stock. Wall Street Zen raised shares of Jersey Mike’s to a “hold” rating in a research note on Saturday, August 8th. Raymond James Financial began coverage on shares of Jersey Mike’s in a research note on Monday. They set an “outperform” rating and a $29.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Jersey Mike’s in a report on Monday. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on shares of Jersey Mike’s in a research note on Monday. They issued a “buy” rating and a $29.00 price objective on the stock. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.35.

Jersey Mike’s Stock Performance

Jersey Mike’s stock opened at $22.36 on Tuesday. Jersey Mike’s has a 12-month low of $20.63 and a 12-month high of $24.99.

Insider Activity

In related news, CFO Michele Allen purchased 10,000 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $23.00 per share, with a total value of $230,000.00. Following the purchase, the chief financial officer directly owned 10,043 shares in the company, valued at $230,989. The trade was a 23,255.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were 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 owned 143,699 shares in the company, valued at $3,139,823.15. This represents a 94.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 31,584 shares of company stock valued at $726,432 and have sold 9,556,184 shares valued at $208,802,620.

Trending Headlines about Jersey Mike’s

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.