Jersey Mike’s (NYSE:JMKE) Given New $26.00 Price Target at Raymond James Financial

Jersey Mike’s (NYSE:JMKE) had its target price cut by Raymond James Financial from $29.00 to $26.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s target price indicates a potential upside of 45.11% from the stock’s current price.

Other analysts have also issued reports about the company. Jefferies Financial Group cut their price target on Jersey Mike’s from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Tigress Financial increased their price objective on Jersey Mike’s from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Sanford C. Bernstein lifted their target price on Jersey Mike’s from $26.00 to $27.00 and gave the company a “market perform” rating in a research report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Robert W. Baird began coverage on Jersey Mike’s in a research note on Monday, August 24th. They issued an “outperform” rating and a $27.00 target price on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.78.

Jersey Mike’s Price Performance

Shares of JMKE traded down $0.40 on Friday, hitting $17.92. The company’s stock had a trading volume of 916,278 shares, compared to its average volume of 3,269,326. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.82 and a current ratio of 1.82. The business has a fifty day moving average of $20.05. Jersey Mike’s has a fifty-two week low of $15.96 and a fifty-two week high of $24.99.

Jersey Mike’s (NYSE:JMKE) last announced its earnings results on Wednesday, September 9th. The company reported $3,700.00 EPS for the quarter. The company had revenue of $208.00 million for the quarter. Sell-side analysts predict that Jersey Mike’s will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Jersey Mike’s news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $21.85, for a total transaction of $96,381,748.40. Following the sale, the insider directly owned 36,114,272 shares of the company’s stock, valued at $789,096,843.20. The trade was a 10.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michele Allen acquired 10,000 shares of Jersey Mike’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $23.00 per share, with a total value of $230,000.00. Following the completion of the purchase, the chief financial officer owned 10,043 shares in the company, valued at approximately $230,989. The trade was a 23,255.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 31,584 shares of company stock valued at $726,432 and have sold 9,938,318 shares valued at $217,152,248.

Jersey Mike’s Company Profile

Jersey Mike’s is an American fast-casual restaurant company best known for submarine sandwiches made to order. Its menu typically includes cold subs, cheesesteaks, wraps, salads, sides, beverages and catering options. The brand emphasizes freshly sliced meats and cheeses, along with its signature “Mike’s Way” preparation featuring onions, lettuce, tomatoes, oil, vinegar and spices.

The company traces its roots to 1956, when the original Mike’s Submarines opened in Point Pleasant, New Jersey.