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

Piper Sandler started coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research report released on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $29.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen upgraded Jersey Mike’s to a “hold” rating in a research report on Saturday, August 8th. Melius Research initiated coverage on Jersey Mike’s in a research report on Thursday, July 30th. They issued a “buy” rating and a $30.00 price objective for the company. Wolfe Research initiated coverage on Jersey Mike’s in a report on Monday. They set a “peer perform” rating for the company. UBS Group set a $27.00 price objective on Jersey Mike’s and gave the stock a “buy” rating in a report on Monday. Finally, Sanford C. Bernstein started coverage on shares of Jersey Mike’s in a research report on Monday. They set a “market perform” rating and a $26.00 target price on the stock. Twenty-one investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.35.

Jersey Mike’s Stock Performance

NYSE:JMKE opened at $22.36 on Monday. Jersey Mike’s has a 52-week low of $20.63 and a 52-week high of $24.99.

Insider Activity at Jersey Mike’s

In other news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $21.85, for a total value of $96,381,748.40. Following the transaction, the insider directly owned 36,114,272 shares in the company, valued at $789,096,843.20. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stacy Peterson acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $23.00 per share, with a total value of $345,000.00. Following the completion of the purchase, the chief operating officer owned 15,000 shares of the company’s stock, valued at $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 ninety days, insiders have purchased 31,584 shares of company stock worth $726,432 and have 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.

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.