Jersey Mike’s (NYSE:JMKE) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research note released on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $26.00 price target on the stock.

A number of other brokerages have also issued reports on JMKE. Royal Bank Of Canada began coverage on Jersey Mike’s in a research report on Monday. They set an “outperform” rating and a $28.00 target price on the stock. Wall Street Zen raised Jersey Mike’s to a “hold” rating in a research note on Saturday, August 8th. William Blair started coverage on Jersey Mike’s in a research note on Monday. They issued an “outperform” rating on the stock. Morgan Stanley started coverage on shares of Jersey Mike’s in a research note on Monday. They set an “overweight” rating and a $29.00 price objective for the company. Finally, UBS Group set a $27.00 price objective on shares of Jersey Mike’s and gave the company a “buy” rating in a research note on Monday. Twenty-one investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.35.

Jersey Mike’s Stock Performance

JMKE opened at $22.36 on Monday. Jersey Mike’s has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Insider Buying and Selling

In other Jersey Mike’s news, CFO Michele Allen bought 3,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average price of $23.00 per share, with a total value of $69,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $34,500. This represents a -200.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of Jersey Mike’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40. Following the transaction, the insider owned 36,114,272 shares in the company, valued at $789,096,843.20. This represents a 10.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 31,584 shares of company stock valued at $726,432 and have sold 9,556,184 shares valued at $208,802,620.

Key Headlines Impacting Jersey Mike’s

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

• Positive Sentiment: Several firms initiated coverage with favorable views. Tigress Financial and Jefferies assigned “buy” ratings with $29 price targets, while Raymond James and RBC issued “moderate buy” ratings with targets of $29 and $28, respectively. These targets imply meaningful upside from recent trading levels. Benzinga analyst coverage reports
• Positive Sentiment: The initial coverage campaign includes major firms such as Morgan Stanley, Deutsche Bank, Mizuho, Stifel, TD Cowen, Piper Sandler, Baird, BTIG, Bernstein, Guggenheim and Truist. The concentrated analyst attention may improve institutional awareness and support the stock’s valuation. Jersey Mike’s analyst coverage reports
• Positive Sentiment: Goldman Sachs set a $26 target with a “neutral” rating, and Wells Fargo set a $25 target with an “equal weight” rating. Although less bullish, both targets remain above recent trading levels and establish valuation support. Goldman Sachs and Wells Fargo coverage
• Neutral Sentiment: Analysts have suggested Jersey Mike’s could eventually challenge Subway as the leading sandwich chain, reinforcing the company’s growth narrative, but the claim is prospective rather than a new operating or financial announcement. Jersey Mike’s could overtake Subway article
• Negative Sentiment: Blackstone II Holdings L.P. and Submarine Buyer LLC each reported selling 2,572,560 shares at an average price of $21.85, reducing their positions by 94.71%. The transactions totaled about $56.2 million per filing and could pressure the stock or raise concerns about insider confidence. SEC shareholder sale filing
• Negative Sentiment: Short interest rose 92.2% to 5.57 million shares as of August 14. While the short ratio remains only 1.6 days and 1.4% of shares are short, the increase signals growing bearish positioning.

About Jersey Mike’s

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.