Jersey Mike’s (NYSE:JMKE) Stock Has Average Target Price of $27.91

Shares of Jersey Mike’s (NYSE:JMKE) have been given a consensus rating of “Moderate Buy” by the twenty-six research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.78.

A number of brokerages recently commented on JMKE. Piper Sandler started coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued an “overweight” rating and a $29.00 price objective on the stock. Guggenheim lifted their target price on shares of Jersey Mike’s from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Wolfe Research began coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set a “peer perform” rating for the company. Jefferies Financial Group reduced their price target on shares of Jersey Mike’s from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Finally, Wall Street Zen upgraded shares of Jersey Mike’s from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th.

Insider Buying and Selling at Jersey Mike’s

In related news, CFO Michele Allen acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the transaction, the chief financial officer directly owned 10,043 shares of the company’s stock, valued at approximately $230,989. This trade represents a 23,255.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were 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 in the company, valued at approximately $3,139,823.15. The trade was a 94.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

Jersey Mike’s Stock Performance

JMKE opened at $17.97 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a 50 day moving average price of $19.95. Jersey Mike’s has a 1-year low of $15.96 and a 1-year high of $24.99.

Jersey Mike’s (NYSE:JMKE) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $3,700.00 earnings per share for the quarter. The firm had revenue of $208.00 million during the quarter. On average, equities analysts expect that Jersey Mike’s will post 0.65 EPS for the current year.

About Jersey Mike’s

Jersey Mike’s is an American fast-casual restaurant company best known for submarine sandwiches made to order. Its menu typically includes cold subs, cheesesteaks, wraps, salads, sides, beverages and catering options. The brand emphasizes freshly sliced meats and cheeses, along with its signature “Mike’s Way” preparation featuring onions, lettuce, tomatoes, oil, vinegar and spices.

The company traces its roots to 1956, when the original Mike’s Submarines opened in Point Pleasant, New Jersey.