Jersey Mike’s (NYSE:JMKE) Price Target Raised to $29.00

Jersey Mike’s (NYSE:JMKE) had its target price raised by Guggenheim from $28.00 to $29.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Jersey Mike’s from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Wolfe Research initiated coverage on Jersey Mike’s in a report on Monday, August 24th. They set a “peer perform” rating for the company. Stifel Nicolaus initiated coverage on Jersey Mike’s in a research note on Monday, August 24th. They set a “buy” rating and a $27.00 price objective for the company. Mizuho decreased their price target on shares of Jersey Mike’s from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Sanford C. Bernstein raised their target price on shares of Jersey Mike’s from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Thursday. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Jersey Mike’s presently has an average rating of “Moderate Buy” and an average target price of $28.52.

Jersey Mike’s Stock Down 0.3%

Shares of NYSE JMKE opened at $21.65 on Friday. Jersey Mike’s has a twelve month low of $19.86 and a twelve month high of $24.99.

Insiders Place Their Bets

In other news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the sale, the insider directly owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This represents a 94.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stacy Peterson purchased 15,000 shares of the stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $345,000.00. Following the transaction, the chief operating officer directly owned 15,000 shares of the company’s stock, valued at $345,000. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over 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 News Roundup

Here are the key news stories impacting Jersey Mike’s this week:

• Positive Sentiment: Multiple analysts raised price targets. Tigress Financial increased its target to $30 from $29 and maintained a Buy rating. Guggenheim raised its target to $29 from $28, while Royal Bank of Canada lifted its target to $29 from $28. Bank of America also raised its target to $29 from $27. Tigress Financial Adjusts Jersey Mike’s Subs Price Target
• Positive Sentiment: Analysts remain constructive after the second-quarter report. BTIG reaffirmed its Buy rating with a $28 target, TD Cowen reiterated Buy, and Bernstein raised its target to $27 while maintaining a Market Perform rating. The revisions reflect confidence in Jersey Mike’s earnings growth and expansion outlook. Analysts Raise Their Forecasts on Jersey Mike’s Subs After Q2 Results
• Positive Sentiment: Call-option activity was elevated. Reports of unusually high-volume purchases of JMKE call options indicate that some traders are positioning for further upside, although options activity can be speculative and does not guarantee a sustained rally. Stock Traders Buy High Volume of Call Options on Jersey Mike’s
• Neutral Sentiment: Valuation remains a key consideration. Most analysts see substantial upside to targets between $27 and $30, but the stock’s weaker session suggests investors may be digesting the post-earnings outlook rather than immediately rewarding the revisions.
• Negative Sentiment: Mizuho reduced its price target to $29 from $31, although it retained an Outperform rating. The cut introduces a more cautious view on near-term upside compared with other analysts.

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.