Jersey Mike’s (NYSE:JMKE) Shares Up 4.6% – Should You Buy?

Jersey Mike’s (NYSE:JMKE)’s stock price traded up 4.6% during mid-day trading on Monday. The stock traded as high as $17.60 and last traded at $17.5340. 197,720 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 3,154,206 shares. The stock had previously closed at $16.76.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Sanford C. Bernstein lifted their target price on Jersey Mike’s from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, September 10th. The Goldman Sachs Group started coverage on shares of Jersey Mike’s in a report on Tuesday, August 25th. They issued a “neutral” rating and a $26.00 price target on the stock. BTIG Research reissued a “buy” rating and set a $28.00 price target on shares of Jersey Mike’s in a research report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set a “buy” rating and a $27.00 price objective for the company. Finally, Jefferies Financial Group dropped their price objective on shares of Jersey Mike’s from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Jersey Mike’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Jersey Mike’s Stock Down 0.4%

The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $19.47.

Jersey Mike’s (NYSE:JMKE) last released its quarterly earnings data on Wednesday, September 9th. The company reported $3,700.00 EPS for the quarter. The company had revenue of $208.00 million during the quarter. As a group, research analysts expect that Jersey Mike’s will post 0.65 EPS for the current fiscal year.

Insider Transactions at Jersey Mike’s

In other news, COO Stacy Peterson bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the purchase, the chief operating officer directly owned 15,000 shares in the company, valued at approximately $345,000. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the 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 sale, 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 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, 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.