Jersey Mike’s (NYSE:JMKE) Stock Gets Price Target Trim from Guggenheim

Jersey Mike’s (NYSE:JMKE) had its price target decreased by Guggenheim from $29.00 to $28.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Bank of America lifted their price target on shares of Jersey Mike’s from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Mizuho cut their price objective on shares of Jersey Mike’s from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, September 10th. Weiss Ratings started coverage on shares of Jersey Mike’s in a research note on Monday, October 26th. They set a “sell (d)” rating for the company. Tigress Financial raised their target price on shares of Jersey Mike’s from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Melius Research initiated coverage on shares of Jersey Mike’s in a report on Thursday, July 30th. They set a “buy” rating and a $30.00 target price for the company. Twenty-one research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.91.

Jersey Mike’s Stock Down 5.9%

Shares of JMKE stock opened at $19.77 on Tuesday. The business has a fifty day moving average price of $18.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.81 and a current ratio of 2.81. 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 announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.16 by $0.07. The firm had revenue of $209.00 million for the quarter. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts forecast that Jersey Mike’s will post 0.64 EPS for the current fiscal year.

Jersey Mike’s Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, November 5th.

Insider Activity at Jersey Mike’s

In other Jersey Mike’s 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 approximately $3,139,823.15. This trade represents a 94.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone II 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 directly owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. The trade was a 94.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 5,527,254 shares of company stock valued at $120,770,500.

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.