Mizuho Cuts Jersey Mike’s (NYSE:JMKE) Price Target to $29.00

by · The Markets Daily

Jersey Mike’s (NYSE:JMKE – Get Free Report) had its target price reduced by equities research analysts at Mizuho from $31.00 to $29.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 32.58% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Zacks Research raised Jersey Mike’s to a “hold” rating in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Jersey Mike’s in a research report on Monday, August 24th. They set a “buy” rating and a $27.00 price target on the stock. Sanford C. Bernstein boosted their price target on shares of Jersey Mike’s from $26.00 to $27.00 and gave the company a “market perform” rating in a research report on Thursday. Evercore assumed coverage on shares of Jersey Mike’s in a research note on Monday, August 24th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Loop Capital began coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued a “buy” rating and a $40.00 price target on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Jersey Mike’s currently has an average rating of “Moderate Buy” and an average price target of $28.43.

View Our Latest Report on Jersey Mike’s

Jersey Mike’s Stock Performance

JMKE stock traded down $0.50 during midday trading on Thursday, reaching $21.87. 1,870,790 shares of the company’s stock traded hands, compared to its average volume of 3,144,569. Jersey Mike’s has a 52 week low of $19.86 and a 52 week high of $24.99.

Insider Transactions at Jersey Mike’s

In related news, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $21.85, for a total transaction of $96,381,748.40. Following the completion of the transaction, the insider directly owned 36,114,272 shares in the company, valued at approximately $789,096,843.20. The trade was a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Submarine Buyer Llc sold 2,572,560 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $21.85, for a total transaction of $56,210,436.00. Following the completion of the sale, the insider directly owned 143,699 shares of the company’s stock, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 31,584 shares of company stock worth $726,432 and have sold 9,938,318 shares worth $217,152,248.

Trending Headlines about Jersey Mike’s

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

  • Positive Sentiment: Strong quarterly growth and guidance: Jersey Mike’s reported second-quarter adjusted earnings above expectations. Same-store sales rose 2.3%, systemwide sales increased 10% to $1.21 billion, revenue climbed 10% to $208 million, and the company opened 83 stores. Management projected 2.5%–3.0% full-year same-store sales growth and 3.0%–4.0% growth in the third quarter. Jersey Mike’s Reports Second Quarter Financial Results
  • Positive Sentiment: Analysts raised targets: Royal Bank of Canada increased its target to $29 and initiated an “outperform” rating. Bank of America also raised its target to $29 with a “buy” rating, while Sanford C. Bernstein lifted its target to $27 and maintained “market perform.” BTIG reaffirmed “buy” with a $28 target, and TD Cowen maintained “buy” with a $26 target. Analysts Raise Forecasts After Q2 Results
  • Positive Sentiment: Expansion and traffic trends support the growth story: Net unit growth reached 8.1% year over year, while transaction growth drove same-store sales. Unusually heavy call-option buying also reflected speculative bullish interest, although it is not a fundamental signal.
  • Neutral Sentiment: Mixed first public earnings report: Revenue was roughly in line with expectations but slightly below the consensus estimate, making the report less likely to produce a sustained rally despite the earnings beat and stronger outlook.
  • Negative Sentiment: Profitability and ownership concerns: Net income declined from the prior-year period, and reported insider activity showed selling without any open-market purchases during the past six months. These factors may be limiting upside as investors assess the newly public company.

About Jersey Mike’s

(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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