Jersey Mike’s (NYSE:JMKE) Price Target Raised to $29.00

Jersey Mike’s (NYSE:JMKE) had its target price hoisted by Royal Bank Of Canada from $28.00 to $29.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They set an “equal weight” rating and a $25.00 price objective for the company. Piper Sandler started coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued an “overweight” rating and a $29.00 target price on the stock. Tigress Financial initiated coverage on Jersey Mike’s in a research note on Wednesday, August 26th. They set a “buy” rating and a $29.00 price target for the company. Sanford C. Bernstein lifted their price target on Jersey Mike’s from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Stifel Nicolaus began coverage on Jersey Mike’s in a report on Monday, August 24th. They set a “buy” rating and a $27.00 price objective for the company. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Jersey Mike’s has an average rating of “Moderate Buy” and a consensus target price of $28.52.

Jersey Mike’s Stock Down 1.0%

Shares of JMKE stock opened at $21.65 on Thursday. Jersey Mike’s has a 12 month low of $19.86 and a 12 month high of $24.99.

Insider Activity

In other news, major shareholder Abu Dhabi Investment Authority sold 382,134 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 transaction of $8,349,627.90. Following the sale, the insider directly owned 35,732,138 shares in the company, valued at $780,747,215.30. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michele Allen bought 3,000 shares of the stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $69,000.00. Following the completion of the purchase, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $34,500. This trade represents a -200.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

Key Jersey Mike’s News

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

• Positive Sentiment: Multiple analysts raised price targets. Tigress Financial increased its target to $30 from $29 and maintained a Buy rating. Guggenheim raised its target to $29 from $28, while Royal Bank of Canada lifted its target to $29 from $28. Bank of America also raised its target to $29 from $27. Tigress Financial Adjusts Jersey Mike’s Subs Price Target
• Positive Sentiment: Analysts remain constructive after the second-quarter report. BTIG reaffirmed its Buy rating with a $28 target, TD Cowen reiterated Buy, and Bernstein raised its target to $27 while maintaining a Market Perform rating. The revisions reflect confidence in Jersey Mike’s earnings growth and expansion outlook. Analysts Raise Their Forecasts on Jersey Mike’s Subs After Q2 Results
• Positive Sentiment: Call-option activity was elevated. Reports of unusually high-volume purchases of JMKE call options indicate that some traders are positioning for further upside, although options activity can be speculative and does not guarantee a sustained rally. Stock Traders Buy High Volume of Call Options on Jersey Mike’s
• Neutral Sentiment: Valuation remains a key consideration. Most analysts see substantial upside to targets between $27 and $30, but the stock’s weaker session suggests investors may be digesting the post-earnings outlook rather than immediately rewarding the revisions.
• Negative Sentiment: Mizuho reduced its price target to $29 from $31, although it retained an Outperform rating. The cut introduces a more cautious view on near-term upside compared with other analysts.

About Jersey Mike’s

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.