Jersey Mike’s (NYSE:JMKE) Now Covered by Analysts at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research note issued to investors on Monday,Benzinga reports. The firm set a “buy” rating and a $28.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 16.18% from the company’s current price.

Several other equities analysts have also recently issued reports on JMKE. Evercore initiated coverage on shares of Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $28.00 price target on the stock. Mizuho initiated coverage on shares of Jersey Mike’s in a report on Monday. They issued an “outperform” rating and a $31.00 price objective for the company. Royal Bank Of Canada started coverage on Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Jersey Mike’s in a report on Monday. They set an “overweight” rating and a $26.00 target price on the stock. Finally, Wall Street Zen upgraded Jersey Mike’s to a “hold” rating in a research note on Saturday, August 8th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.48.

Jersey Mike’s Trading Up 1.0%

NYSE JMKE opened at $24.10 on Monday. Jersey Mike’s has a 1 year low of $20.63 and a 1 year high of $24.99.

Insider Buying and Selling at Jersey Mike’s

In related news, CFO Michele Allen bought 3,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, with a total value of $69,000.00. Following the completion of the purchase, the chief financial officer owned 1,500 shares in the company, valued at approximately $34,500. The trade was a -200.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $21.85, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 31,584 shares of company stock worth $726,432.

Key Jersey Mike’s News

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.