Jersey Mike’s (NYSE:JMKE) Rating Increased to Moderate Buy at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Jersey Mike’s (NYSE:JMKE) to a moderate buy rating in a research report report published on Monday morning,Zacks.com reports.

Several other research firms also recently issued reports on JMKE. Jefferies Financial Group initiated coverage on shares of Jersey Mike’s in a research note on Monday. They set a “buy” rating and a $29.00 price target for the company. Morgan Stanley initiated coverage on Jersey Mike’s in a report on Monday. They issued an “overweight” rating and a $29.00 price objective for the company. Mizuho began coverage on Jersey Mike’s in a report on Monday. They set an “outperform” rating and a $31.00 target price on the stock. Stifel Nicolaus began coverage on Jersey Mike’s in a research report on Monday. They issued a “buy” rating and a $27.00 price target on the stock. Finally, BTIG Research assumed coverage on Jersey Mike’s in a research note on Monday. They issued a “buy” rating and a $28.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Jersey Mike’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.43.

Jersey Mike’s Price Performance

Shares of NYSE JMKE opened at $23.55 on Monday. Jersey Mike’s has a 1 year low of $20.63 and a 1 year high of $24.99.

Insider Activity

In other news, CAO James J. Whalen purchased 2,500 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $23.00 per share, with a total value of $57,500.00. Following the completion of the transaction, the chief accounting officer owned 2,500 shares of the company’s stock, valued at $57,500. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the stock in a transaction dated 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 sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 31,584 shares of company stock worth $726,432 over the last ninety days.

Jersey Mike’s News Roundup

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

• Positive Sentiment: Analyst sentiment remains strongly favorable. Jefferies upgraded Jersey Mike’s to “strong buy,” Royal Bank of Canada raised its view to “moderate buy,” and Wells Fargo initiated an upgrade to “hold.” The latest calls add to a large group of firms rating the stock Buy, Outperform, or Overweight. Zacks.com analyst rating coverage
• Positive Sentiment: Initial post-IPO coverage from major banks included price targets ranging from $27 to $29, with UBS at $28 and Bank of America at $27. Loop Capital issued the most aggressive target at $40, indicating that analysts see meaningful upside from the IPO price. Jersey Mike’s gets initial Buy ratings across major banks
• Positive Sentiment: Analysts cited Jersey Mike’s franchise-heavy, high-margin operating model, continued same-store sales opportunities, and substantial domestic and international unit-growth potential. Some analysts believe the chain could eventually challenge Subway’s position as the leading sandwich chain. Jersey Mike’s could overtake Subway as top sandwich chain
• Neutral Sentiment: Wells Fargo’s “hold” rating provides a more cautious counterpoint to the otherwise optimistic coverage, suggesting that some investors may wait for additional public-company results before assigning a higher valuation. Zacks.com rating update

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.