Jefferies Financial Group Has Lowered Expectations for Jersey Mike’s (NYSE:JMKE) Stock Price

Jersey Mike’s (NYSE:JMKE) had its target price decreased by Jefferies Financial Group from $26.00 to $24.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 39.53% from the stock’s current price.

A number of other analysts have also commented on the company. Wolfe Research assumed coverage on Jersey Mike’s in a report on Monday, August 24th. They set a “peer perform” rating on the stock. BTIG Research restated a “buy” rating and issued a $28.00 price objective on shares of Jersey Mike’s in a research note on Thursday, September 10th. Mizuho decreased their target price on Jersey Mike’s from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, September 10th. Bank of America lifted their target price on Jersey Mike’s from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Finally, The Goldman Sachs Group began coverage on shares of Jersey Mike’s in a report on Tuesday, August 25th. They issued a “neutral” rating and a $26.00 price target on the stock. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Jersey Mike’s has an average rating of “Moderate Buy” and an average target price of $28.17.

Jersey Mike’s Stock Performance

NYSE:JMKE traded up $0.53 on Tuesday, hitting $17.20. The stock had a trading volume of 325,298 shares, compared to its average volume of 3,248,484. Jersey Mike’s has a 1 year low of $16.61 and a 1 year high of $24.99. The firm’s fifty day simple moving average is $21.37.

Jersey Mike’s (NYSE:JMKE) last announced its earnings results on Wednesday, September 9th. The company reported $3,700.00 earnings per share for the quarter. The business had revenue of $208.00 million during the quarter. As a group, sell-side analysts forecast that Jersey Mike’s will post 0.65 earnings per share for the current year.

Insider Buying and Selling at Jersey Mike’s

In other Jersey Mike’s news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total value of $56,210,436.00. Following the completion of the transaction, the insider owned 143,699 shares in the company, valued at $3,139,823.15. This trade represents a 94.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stacy Peterson bought 15,000 shares of Jersey Mike’s stock in a transaction 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 acquisition, 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 SEC filing for this purchase provides additional information. In the last three months, insiders have bought 31,584 shares of company stock worth $726,432 and have sold 9,938,318 shares worth $217,152,248.

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.