Jersey Mike’s (NYSE:JMKE) Given New $21.00 Price Target at Wells Fargo & Company

Jersey Mike’s (NYSE:JMKE) had its price target lowered by equities researchers at Wells Fargo & Company from $25.00 to $21.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.52% from the company’s previous close.

Several other research firms also recently weighed in on JMKE. Truist Financial began coverage on Jersey Mike’s in a research report on Monday, August 24th. They set a “buy” rating and a $30.00 target price for the company. Evercore assumed coverage on Jersey Mike’s in a research report on Monday, August 24th. They set an “outperform” rating and a $28.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Jersey Mike’s in a research note on Wednesday, September 9th. Raymond James Financial reduced their target price on Jersey Mike’s from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Finally, Zacks Research raised Jersey Mike’s to a “hold” rating in a research note on Tuesday, August 25th. Twenty-one equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.52.

Jersey Mike’s Price Performance

JMKE opened at $17.87 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.82. The firm’s 50 day moving average is $19.19. Jersey Mike’s has a twelve month low of $15.96 and a twelve month high of $24.99.

Jersey Mike’s (NYSE:JMKE) last released its earnings results on Wednesday, October 28th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.07. The firm had revenue of $209.00 million for the quarter. The company’s revenue was up 10.0% on a year-over-year basis. Equities research analysts anticipate that Jersey Mike’s will post 0.65 EPS for the current fiscal year.

Insider Activity at Jersey Mike’s

In other news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 143,699 shares in the company, valued at $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. This represents a 94.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders acquired 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.

Key Jersey Mike’s News

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

• Positive Sentiment: Jersey Mike’s reported third-quarter adjusted EPS of $0.23, exceeding the $0.16 analyst consensus by $0.07. Revenue increased 10% year over year to $209 million. Jersey Mike’s third-quarter earnings results
• Positive Sentiment: Management expects at least 20% adjusted EBITDA growth in 2026 and authorized a $100 million share-repurchase program, which could support earnings per share and signal confidence in the business. Jersey Mike’s EBITDA outlook and buyback
• Positive Sentiment: The company declared a $0.35-per-share special dividend, payable November 19 to eligible shareholders. Digital sales represented 43% of third-quarter revenue, while same-store sales still grew 3% year over year. Jersey Mike’s special dividend
• Positive Sentiment: Analysts remain constructive: TD Cowen reaffirmed its “buy” rating with a $22 price target, and Stifel Nicolaus maintained a “buy” rating despite reducing its target from $27 to $25. Analyst ratings for Jersey Mike’s
• Negative Sentiment: Comparable-store sales growth disappointed some investors, raising concerns about customer demand and the pace of organic growth despite the revenue and earnings beats. Jersey Mike’s comparable-store sales results
• Negative Sentiment: Coverage also highlighted a quarterly loss on higher revenue, underscoring continued pressure on profitability and contributing to the stock’s cautious valuation response. Jersey Mike’s quarterly loss

About Jersey Mike’s

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.