Jersey Mike’s (NYSE:JMKE) Research Coverage Started at Morgan Stanley

Morgan Stanley started coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $29.00 target price on the stock.

A number of other brokerages have also recently commented on JMKE. Stifel Nicolaus began coverage on Jersey Mike’s in a research note on Monday. They set a “buy” rating and a $27.00 price objective for the company. UBS Group set a $27.00 target price on Jersey Mike’s and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company initiated 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. Melius Research started coverage on Jersey Mike’s in a report on Thursday, July 30th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $29.00 target price for the company. Twenty-one investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.35.

Jersey Mike’s Stock Performance

Shares of Jersey Mike’s stock opened at $22.36 on Monday. Jersey Mike’s has a 52 week low of $20.63 and a 52 week high of $24.99.

Insider Buying and Selling

In other Jersey Mike’s news, CFO Michele Allen acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average price of $23.00 per share, with a total value of $230,000.00. Following the purchase, the chief financial officer owned 10,043 shares of the company’s stock, valued at $230,989. This represents a 23,255.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of Jersey Mike’s stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 31,584 shares of company stock worth $726,432 and have sold 9,556,184 shares worth $208,802,620.

Key Stories 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.

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.