Jersey Mike’s (NYSE:JMKE) Price Target Raised to $30.00

Jersey Mike’s (NYSE:JMKE) had its target price lifted by Tigress Financial from $29.00 to $30.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on JMKE. Zacks Research raised Jersey Mike’s to a “hold” rating in a research note on Tuesday, August 25th. Piper Sandler assumed coverage on Jersey Mike’s in a report on Monday, August 24th. They issued an “overweight” rating and a $29.00 target price for the company. BTIG Research reissued a “buy” rating and set a $28.00 target price on shares of Jersey Mike’s in a research report on Thursday. Royal Bank Of Canada increased their price target on Jersey Mike’s from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company started coverage on Jersey Mike’s in a research report on Monday, August 24th. They issued an “equal weight” rating and a $25.00 price target for the company. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.52.

Jersey Mike’s Trading Down 0.3%

JMKE opened at $21.65 on Friday. Jersey Mike’s has a 12 month low of $19.86 and a 12 month high of $24.99.

Insider Buying and Selling

In other news, COO Stacy Peterson acquired 15,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $23.00 per share, with a total value of $345,000.00. Following the completion of the purchase, the chief operating officer directly owned 15,000 shares in the company, valued at approximately $345,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $56,210,436.00. Following the transaction, the insider owned 143,699 shares of the company’s stock, valued at $3,139,823.15. This trade represents a 94.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders bought 31,584 shares of company stock worth $726,432 and 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.

About Jersey Mike’s

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.