Jersey Mike’s (NYSE:JMKE) Price Target Raised to $29.00

Jersey Mike’s (NYSE:JMKE) had its price objective boosted by Bank of America from $27.00 to $29.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on JMKE. Raymond James Financial began coverage on Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $29.00 price objective for the company. Mizuho initiated coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued an “outperform” rating and a $31.00 target price on the stock. Piper Sandler assumed coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set an “overweight” rating and a $29.00 target price for the company. Truist Financial initiated coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued a “buy” rating and a $30.00 price target for the company. Finally, Robert W. Baird initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued 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 and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.52.

Jersey Mike’s Price Performance

Shares of NYSE JMKE opened at $21.65 on Thursday. Jersey Mike’s has a twelve month low of $19.86 and a twelve month high of $24.99.

Insider Activity at Jersey Mike’s

In other Jersey Mike’s news, 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 stock was 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 owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This represents a 94.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stacy Peterson purchased 15,000 shares of Jersey Mike’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the transaction, the chief operating officer directly owned 15,000 shares of the company’s stock, valued at approximately $345,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

More Jersey Mike’s News

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

• Positive Sentiment: Multiple analysts raised price targets. Tigress Financial increased its target to $30 from $29 and maintained a Buy rating. Guggenheim raised its target to $29 from $28, while Royal Bank of Canada lifted its target to $29 from $28. Bank of America also raised its target to $29 from $27. Tigress Financial Adjusts Jersey Mike’s Subs Price Target
• Positive Sentiment: Analysts remain constructive after the second-quarter report. BTIG reaffirmed its Buy rating with a $28 target, TD Cowen reiterated Buy, and Bernstein raised its target to $27 while maintaining a Market Perform rating. The revisions reflect confidence in Jersey Mike’s earnings growth and expansion outlook. Analysts Raise Their Forecasts on Jersey Mike’s Subs After Q2 Results
• Positive Sentiment: Call-option activity was elevated. Reports of unusually high-volume purchases of JMKE call options indicate that some traders are positioning for further upside, although options activity can be speculative and does not guarantee a sustained rally. Stock Traders Buy High Volume of Call Options on Jersey Mike’s
• Neutral Sentiment: Valuation remains a key consideration. Most analysts see substantial upside to targets between $27 and $30, but the stock’s weaker session suggests investors may be digesting the post-earnings outlook rather than immediately rewarding the revisions.
• Negative Sentiment: Mizuho reduced its price target to $29 from $31, although it retained an Outperform rating. The cut introduces a more cautious view on near-term upside compared with other analysts.

About Jersey Mike’s

Jersey Mike’s is a fast-casual restaurant company specializing in made-to-order submarine sandwiches. Its menu includes cold subs, cheesesteaks, wraps, salads, sides and beverages, with sandwiches prepared using sliced-to-order meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” dressing of onions, lettuce, tomatoes, vinegar and olive oil.

The business traces its roots to a neighborhood sub shop in Point Pleasant, New Jersey, which was established in 1956. Peter Cancro acquired the shop as a teenager in 1971 and developed it into the Jersey Mike’s brand.