Jersey Mike’s (NYSE:JMKE) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

by · The Markets Daily

Jersey Mike’s (NYSE:JMKE – Get Free Report) had its price target upped by analysts at Royal Bank Of Canada from $28.00 to $29.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 31.19% from the company’s current price.

A number of other equities research analysts have also recently issued reports on JMKE. Wells Fargo & Company assumed coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They set an “equal weight” rating and a $25.00 target price on the stock. Loop Capital initiated coverage on Jersey Mike’s in a research report on Monday, August 24th. They set a “buy” rating and a $40.00 price target on the stock. Wall Street Zen downgraded Jersey Mike’s from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Tigress Financial began coverage on shares of Jersey Mike’s in a report on Wednesday, August 26th. They issued a “buy” rating and a $29.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Jersey Mike’s in a research report on Monday, August 24th. They set an “overweight” rating and a $29.00 price target for the company. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.52.

View Our Latest Report on Jersey Mike’s

Jersey Mike’s Price Performance

NYSE:JMKE traded down $0.26 during trading hours on Thursday, reaching $22.11. The stock had a trading volume of 1,010,409 shares, compared to its average volume of 3,115,769. Jersey Mike’s has a 12-month low of $19.86 and a 12-month high of $24.99.

Insider Activity at Jersey Mike’s

In related news, CFO Michele Allen acquired 3,000 shares of the stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, with a total value of $69,000.00. Following the transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $34,500. This represents a -200.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stacy Peterson purchased 15,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the acquisition, the chief operating officer owned 15,000 shares in the company, valued at $345,000. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 31,584 shares of company stock valued at $726,432 and have sold 9,938,318 shares valued at $217,152,248.

Key Stories Impacting Jersey Mike’s

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

  • Positive Sentiment: Jersey Mike’s reported second-quarter adjusted earnings above Wall Street expectations. Revenue increased 10% year over year to $208 million, while systemwide sales rose 10% to $1.21 billion. Jersey Mike’s Reports Second Quarter Financial Results
  • Positive Sentiment: Growth indicators were encouraging: same-store sales rose 2.3%, transaction growth helped drive performance, and 83 new stores lifted net unit growth to 8.1%. Management also projected third-quarter same-store sales growth of 3% to 4%, supporting the bullish outlook. Jersey Mike’s climbs after first post-IPO earnings release and upbeat outlook
  • Positive Sentiment: Analysts raised their targets following the report: Bank of America moved to $29 and a buy rating, BTIG reaffirmed buy with a $28 target, and Bernstein raised its target to $27 while maintaining a market-perform rating. Analysts raise forecasts on Jersey Mike’s
  • Neutral Sentiment: Unusually heavy call-option activity indicates speculative bullish interest, but it does not establish a fundamental change in the company’s outlook.
  • Negative Sentiment: Revenue narrowly missed estimates, net income declined year over year, and some commentary characterized the first public earnings report as underwhelming. Investors may also be cautious about valuation and the need for continued sales acceleration. Why Jersey Mike’s earnings failed to lift the stock
  • Negative Sentiment: Reported insider activity shows substantial selling by major holders, including Blackstone-linked entities and Abu Dhabi Investment Authority, which can weigh on sentiment even if the sales are IPO-related. Jersey Mike’s trading analysis

Jersey Mike’s Company Profile

(Get Free Report)

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.

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