Jersey Mike’s (NYSE:JMKE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Jersey Mike’s (NYSE:JMKE) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $28.5217.

Several equities analysts recently commented on the stock. Robert W. Baird started coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set an “outperform” rating and a $27.00 target price for the company. Zacks Research upgraded shares of Jersey Mike’s to a “hold” rating in a research report on Tuesday, August 25th. UBS Group restated a “buy” rating on shares of Jersey Mike’s in a report on Wednesday, September 9th. JPMorgan Chase & Co. assumed coverage on shares of Jersey Mike’s in a research report on Monday, August 24th. They set an “overweight” rating and a $26.00 price objective for the company. Finally, Mizuho decreased their target price on Jersey Mike’s from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th.

Insider Activity

In other news, COO Stacy Peterson purchased 15,000 shares of Jersey Mike’s stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the transaction, the chief operating officer directly owned 15,000 shares in the company, valued at approximately $345,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michele Allen bought 10,000 shares of Jersey Mike’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the completion of the acquisition, the chief financial officer directly owned 10,043 shares in the company, valued at $230,989. This represents a 23,255.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 31,584 shares of company stock valued at $726,432 and have sold 9,938,318 shares valued at $217,152,248.

Jersey Mike’s Stock Up 0.2%

Shares of Jersey Mike’s stock opened at $20.10 on Friday. Jersey Mike’s has a 1-year low of $19.73 and a 1-year high of $24.99.

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.