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

BTIG Research assumed coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research note issued to investors on Monday morning, Marketbeat reports. The firm issued a buy rating and a $28.00 target price on the stock.

Several other analysts have also commented on the stock. Wall Street Zen raised shares of Jersey Mike’s to a “hold” rating in a research report on Saturday, August 8th. Melius Research began coverage on shares of Jersey Mike’s in a research note on Thursday, July 30th. They set a “buy” rating and a $30.00 price target for the company. Morgan Stanley assumed coverage on shares of Jersey Mike’s in a research note on Monday. They set an “overweight” rating and a $29.00 price target for the company. Royal Bank Of Canada assumed coverage on shares of Jersey Mike’s in a report on Monday. They issued an “outperform” rating and a $28.00 price target on the stock. Finally, Wolfe Research started coverage on Jersey Mike’s in a research note on Monday. They issued a “peer perform” rating on the stock. Twenty-one analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jersey Mike’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.35.

Jersey Mike’s Trading Up 0.7%

JMKE stock opened at $22.36 on Monday. Jersey Mike’s has a 1-year low of $20.63 and a 1-year high of $24.99.

Insider Buying and Selling

In other Jersey Mike’s news, CFO Michele Allen acquired 10,000 shares of Jersey Mike’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the purchase, the chief financial officer owned 10,043 shares of the company’s stock, valued at approximately $230,989. This represents a 23,255.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stacy Peterson purchased 15,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was bought 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 of the company’s stock, valued at approximately $345,000. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 31,584 shares of company stock worth $726,432 and 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.