Jersey Mike’s (NYSE:JMKE) Stock Has Consensus Target Price of $27.91 According to Brokerages

Jersey Mike’s (NYSE:JMKE) has been given an average rating of “Moderate Buy” by the twenty-six research firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $27.78.

Several equities analysts have commented on JMKE shares. Tigress Financial lifted their target price on shares of Jersey Mike’s from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Bank of America boosted 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. The Goldman Sachs Group began coverage on Jersey Mike’s in a report on Tuesday, August 25th. They issued a “neutral” rating and a $26.00 target price for the company. Wolfe Research began coverage on Jersey Mike’s in a research report on Monday, August 24th. They set a “peer perform” rating for the company. Finally, UBS Group reaffirmed an “outperform” rating on shares of Jersey Mike’s in a research report on Friday.

Insider Transactions at Jersey Mike’s

In other Jersey Mike’s news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the company’s stock in a transaction on 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 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 the SEC website. Also, CFO Michele Allen bought 10,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the transaction, the chief financial officer owned 10,043 shares in the company, valued at approximately $230,989. The trade was a 23,255.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 31,584 shares of company stock worth $726,432 and have sold 9,938,318 shares worth $217,152,248.

Jersey Mike’s Trading Down 1.1%

Shares of JMKE stock opened at $17.75 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a 50-day moving average price of $19.86. Jersey Mike’s has a one year low of $15.96 and a one year high of $24.99.

Jersey Mike’s (NYSE:JMKE) last released its quarterly earnings results on Wednesday, September 9th. The company reported $3,700.00 earnings per share for the quarter. The firm had revenue of $208.00 million for the quarter. On average, sell-side analysts forecast that Jersey Mike’s will post 0.65 EPS for the current year.

About Jersey Mike’s

Jersey Mike’s, commonly known as Jersey Mike’s Subs, is a fast-casual restaurant company focused on submarine sandwiches and related food offerings. Its menu includes hot and cold subs, wraps, salads, beverages and desserts, with catering services also available at many locations.

The business operates primarily through a franchise-based model under the Jersey Mike’s Subs brand. Restaurants are known for preparing sandwiches to order, including sliced meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” preparation.

Jersey Mike’s traces its roots to 1956, when the original submarine shop opened in Point Pleasant, New Jersey.