Jersey Mike’s (NYSE:JMKE) Stock Price Target Lowered at TD Cowen

Jersey Mike’s (NYSE:JMKE) had its price objective decreased by stock analysts at TD Cowen from $26.00 to $22.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 33.93% from the company’s current price.

JMKE has been the topic of a number of other reports. Wolfe Research assumed coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They issued a “peer perform” rating on the stock. William Blair restated an “outperform” rating on shares of Jersey Mike’s in a research note on Wednesday, September 9th. Wall Street Zen raised Jersey Mike’s from a “sell” rating to a “hold” rating in a research note on Sunday, September 13th. Evercore started coverage on Jersey Mike’s in a report on Monday, August 24th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Jefferies Financial Group reduced their target price on shares of Jersey Mike’s from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Twenty-one 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 stock has an average rating of “Moderate Buy” and a consensus price target of $27.91.

Jersey Mike’s Stock Performance

Shares of NYSE JMKE opened at $16.43 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.82. Jersey Mike’s has a one year low of $15.96 and a one year high of $24.99. The business’s 50-day simple moving average is $20.79.

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

Insider Transactions at Jersey Mike’s

In other news, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the firm’s stock in a transaction 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 sale, the insider owned 143,699 shares in the company, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michele Allen purchased 3,000 shares of Jersey Mike’s stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $23.00 per share, with a total value of $69,000.00. Following the completion of the acquisition, the chief financial officer owned 1,500 shares in the company, valued at approximately $34,500. This trade represents a -200.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 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 an American fast-casual restaurant company best known for submarine sandwiches made to order. Its menu typically includes cold subs, cheesesteaks, wraps, salads, sides, beverages and catering options. The brand emphasizes freshly sliced meats and cheeses, along with its signature “Mike’s Way” preparation featuring onions, lettuce, tomatoes, oil, vinegar and spices.

The company traces its roots to 1956, when the original Mike’s Submarines opened in Point Pleasant, New Jersey.