Jersey Mike’s (NYSE:JMKE) Earns Buy Rating from Analysts at Truist Financial

Investment analysts at Truist Financial began coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a $30.00 price target on the stock. Truist Financial’s price target indicates a potential upside of 26.05% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Jersey Mike’s in a research report on Monday. They issued a “buy” rating and a $27.00 target price for the company. Robert W. Baird started coverage on Jersey Mike’s in a research note on Monday. They issued an “outperform” rating and a $27.00 price objective on the stock. Mizuho initiated coverage on shares of Jersey Mike’s in a report on Monday. They set an “outperform” rating and a $31.00 price target for the company. Morgan Stanley assumed coverage on shares of Jersey Mike’s in a report on Monday. They issued an “overweight” rating and a $29.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on Jersey Mike’s in a report on Monday. They set an “equal weight” rating and a $25.00 target price on the stock. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.43.

Jersey Mike’s Trading Down 0.3%

Shares of JMKE opened at $23.80 on Monday. Jersey Mike’s has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Insider Transactions at Jersey Mike’s

In other news, CFO Michele Allen purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $23.00 per share, with a total value of $230,000.00. Following the purchase, the chief financial officer owned 10,043 shares in the company, valued at $230,989. This represents a 23,255.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $21.85, for a total value of $96,381,748.40. Following the completion of the transaction, the insider owned 36,114,272 shares in the company, valued at approximately $789,096,843.20. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 31,584 shares of company stock valued at $726,432 in the last 90 days.

Key Headlines Impacting Jersey Mike’s

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

• Positive Sentiment: Mizuho initiated coverage with an “outperform” rating and a $31 price target, implying approximately 30% potential upside. Benzinga article
• Positive Sentiment: Piper Sandler and Morgan Stanley each rated the stock “overweight” and set $29 price targets, implying roughly 22% upside. Benzinga article
• Positive Sentiment: BTIG Research initiated coverage with a “buy” rating and a $28 target, while Evercore assigned an “outperform” rating with the same target. Benzinga article
• Positive Sentiment: Stifel Nicolaus and Robert W. Baird both issued positive ratings and $27 price targets. Benzinga article
• Neutral Sentiment: Bernstein rated Jersey Mike’s “market perform,” while TD Cowen rated it “buy”; both set $26 targets, the lowest among the new estimates. Benzinga article

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.