Jersey Mike’s (NYSE:JMKE) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of Jersey Mike’s (NYSE:JMKE) in a report published on Monday,Benzinga reports. The brokerage issued a buy rating and a $27.00 price target on the stock.

Several other research analysts have also recently weighed in on the company. Jefferies Financial Group started coverage on Jersey Mike’s in a research note on Monday. They issued a “buy” rating and a $29.00 price target for the company. Stifel Nicolaus began coverage on Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $27.00 price objective on the stock. Morgan Stanley initiated coverage on Jersey Mike’s in a report on Monday. They issued an “overweight” rating and a $29.00 price objective for the company. Wells Fargo & Company began coverage on Jersey Mike’s in a research report on Monday. They issued an “equal weight” rating and a $25.00 target price for the company. Finally, Sanford C. Bernstein assumed coverage on Jersey Mike’s in a research report on Monday. They issued a “market perform” rating and a $26.00 target price for the company. Twenty-one equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.35.

Jersey Mike’s Stock Performance

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

Insider Buying and Selling at Jersey Mike’s

In related news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of Jersey Mike’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 completion of the sale, the insider owned 143,699 shares of the company’s stock, valued at $3,139,823.15. The trade was a 94.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Stacy Peterson acquired 15,000 shares of Jersey Mike’s stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $23.00 per share, with a total value of $345,000.00. Following the transaction, the chief operating officer owned 15,000 shares of the company’s stock, valued at $345,000. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 31,584 shares of company stock worth $726,432 and sold 9,556,184 shares worth $208,802,620.

Jersey Mike’s News Summary

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.

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.