Jersey Mike’s (NYSE:JMKE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Jersey Mike’s (NYSE:JMKE) have been given a consensus rating of “Moderate Buy” by the twenty-six brokerages that are presently 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 target among brokers that have issued a report on the stock in the last year is $28.52.

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Jersey Mike’s from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. BTIG Research reissued a “buy” rating and set a $28.00 price objective on shares of Jersey Mike’s in a report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued a “buy” rating and a $27.00 target price for the company. Loop Capital initiated coverage on Jersey Mike’s in a research note on Monday, August 24th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Melius Research assumed coverage on Jersey Mike’s in a research report on Thursday, July 30th. They set a “buy” rating and a $30.00 price target on the stock.

Insiders Place Their Bets

In other Jersey Mike’s news, COO Stacy Peterson acquired 15,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $23.00 per share, with a total value of $345,000.00. Following the completion of the acquisition, the chief operating officer directly owned 15,000 shares in the company, valued at $345,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 382,134 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $8,349,627.90. Following the transaction, the insider owned 35,732,138 shares of the company’s stock, valued at $780,747,215.30. This represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders purchased 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

Jersey Mike’s Trading Down 5.9%

NYSE JMKE opened at $17.13 on Friday. The business’s fifty day simple moving average is $21.59. Jersey Mike’s has a one year low of $16.91 and a one year high of $24.99.

Jersey Mike’s (NYSE:JMKE) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $3,700.00 earnings per share (EPS) for the quarter. The company had revenue of $208.00 million for the quarter. As a group, sell-side analysts forecast that Jersey Mike’s will post 0.65 EPS for the current fiscal year.

Jersey Mike’s Company Profile

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.