Mizuho Begins Coverage on Jersey Mike’s (NYSE:JMKE)

Research analysts at Mizuho began coverage on shares of Jersey Mike’s (NYSE:JMKE) in a report released on Monday,Benzinga reports. The firm set an “outperform” rating and a $31.00 price target on the stock. Mizuho’s target price indicates a potential upside of 30.25% from the company’s previous close.

JMKE has been the subject of a number of other research reports. Sanford C. Bernstein began coverage on Jersey Mike’s in a research report on Monday. They issued a “market perform” rating and a $26.00 price target for the company. Piper Sandler assumed coverage on shares of Jersey Mike’s in a research report on Monday. They issued an “overweight” rating and a $29.00 price target for the company. Wells Fargo & Company assumed coverage on shares of Jersey Mike’s in a research note on Monday. They issued a “neutral” rating and a $25.00 price objective for the company. Jefferies Financial Group began coverage on shares of Jersey Mike’s in a research report on Monday. They set a “positive” rating on the stock. Finally, UBS Group set a $27.00 target price on shares of Jersey Mike’s in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Jersey Mike’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.77.

Jersey Mike’s Stock Performance

JMKE opened at $23.80 on Monday. Jersey Mike’s has a fifty-two week low of $20.63 and a fifty-two week high of $24.99.

Insider Activity at Jersey Mike’s

In other Jersey Mike’s news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $21.85, for a total value of $96,381,748.40. Following the completion of the sale, the insider owned 36,114,272 shares in the company, valued at $789,096,843.20. This represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michele Allen bought 3,000 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $23.00 per share, with a total value of $69,000.00. Following the purchase, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $34,500. This trade represents a -200.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 31,584 shares of company stock worth $726,432 in the last quarter.

About Jersey Mike’s

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.