Jersey Mike’s (NYSE:JMKE) Stock Jumps 4.6% – What’s Next?

Jersey Mike’s (NYSE:JMKE)’s share price rose 4.6% during trading on Monday. The company traded as high as $17.60 and last traded at $17.5340. 197,720 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 3,154,206 shares. The stock had previously closed at $16.76.

Wall Street Analyst Weigh In

Several research firms recently commented on JMKE. UBS Group reaffirmed an “outperform” rating on shares of Jersey Mike’s in a research report on Friday, October 16th. William Blair reiterated an “outperform” rating on shares of Jersey Mike’s in a report on Wednesday, September 9th. Mizuho decreased their target price on Jersey Mike’s from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Robert W. Baird initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $27.00 price target on the stock. Twenty-one equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

Jersey Mike’s Price Performance

The stock’s fifty day moving average price is $19.28.

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

Insider Activity at Jersey Mike’s

In other Jersey Mike’s news, COO Stacy Peterson acquired 15,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $23.00 per share, with a total value of $345,000.00. Following the transaction, the chief operating officer directly owned 15,000 shares in the company, valued at approximately $345,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. The trade was a 94.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 31,584 shares of company stock valued at $726,432 and sold 9,938,318 shares valued at $217,152,248.

About Jersey Mike’s

Jersey Mike’s, commonly known as Jersey Mike’s Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike’s Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” preparation.

Jersey Mike’s traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.