Jersey Mike’s (NYSE:JMKE) Stock Price Target Lowered at Jefferies Financial Group

Jersey Mike’s (NYSE:JMKE) had its price objective cut by equities researchers at Jefferies Financial Group from $26.00 to $24.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 39.53% from the company’s previous close.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued an “overweight” rating and a $26.00 price objective for the company. Sanford C. Bernstein increased their target price on shares of Jersey Mike’s from $26.00 to $27.00 and gave the stock a “market perform” rating in a research note on Thursday, September 10th. Stifel Nicolaus started coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued a “buy” rating and a $27.00 price target for the company. BTIG Research reaffirmed a “buy” rating and issued a $28.00 price target on shares of Jersey Mike’s in a research note on Thursday, September 10th. Finally, Raymond James Financial initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $29.00 price objective on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.17.

Jersey Mike’s Price Performance

NYSE JMKE traded up $0.53 during trading hours on Tuesday, hitting $17.20. 325,298 shares of the company’s stock were exchanged, compared to its average volume of 3,248,484. The firm has a 50-day moving average of $21.37. Jersey Mike’s has a 1-year low of $16.61 and a 1-year high of $24.99.

Jersey Mike’s (NYSE:JMKE) last issued its earnings results on Wednesday, September 9th. The company reported $3,700.00 earnings per share for the quarter. The business had revenue of $208.00 million during the quarter. Equities analysts expect that Jersey Mike’s will post 0.65 earnings per share for the current year.

Insider Activity

In other Jersey Mike’s news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the business’s stock in a transaction that occurred 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 approximately $3,139,823.15. The trade was a 94.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $56,210,436.00. Following the completion of the transaction, the insider owned 143,699 shares in the company, valued at $3,139,823.15. This represents a 94.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

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.