TD Cowen Reiterates Buy Rating for Jersey Mike’s (NYSE:JMKE)

Jersey Mike’s (NYSE:JMKE)‘s stock had its “buy” rating restated by stock analysts at TD Cowen in a report released on Wednesday, Benzinga reports. They currently have a $26.00 target price on the stock. TD Cowen’s price objective would indicate a potential upside of 24.87% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Wall Street Zen cut Jersey Mike’s from a “hold” rating to a “sell” rating in a research note on Saturday. The Goldman Sachs Group initiated coverage on Jersey Mike’s in a research note on Tuesday, August 25th. They set a “neutral” rating and a $26.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Jersey Mike’s in a report on Monday, August 24th. They set an “overweight” rating and a $26.00 price objective for the company. Evercore started coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, BTIG Research started coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued a “buy” rating and a $28.00 price target for the company. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.35.

Jersey Mike’s Price Performance

Shares of NYSE JMKE opened at $20.82 on Wednesday. Jersey Mike’s has a fifty-two week low of $19.86 and a fifty-two week high of $24.99.

Insider Buying and Selling

In other Jersey Mike’s news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of Jersey Mike’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $21.85, for a total transaction of $96,381,748.40. Following the sale, the insider directly owned 36,114,272 shares of the company’s stock, valued at approximately $789,096,843.20. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stacy Peterson acquired 15,000 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the purchase, the chief operating officer owned 15,000 shares in the company, valued at approximately $345,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 31,584 shares of company stock worth $726,432 and have sold 9,938,318 shares worth $217,152,248.

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.