Jersey Mike’s (NYSE:JMKE) Now Covered by Evercore

Stock analysts at Evercore started coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research note issued to investors on Monday. The brokerage set an “outperform” rating and a $28.00 price target on the stock. Evercore’s target price suggests a potential upside of 17.65% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group began coverage on Jersey Mike’s in a research note on Monday. They issued a “positive” rating on the stock. Robert W. Baird began coverage on Jersey Mike’s in a research note on Monday. They issued an “outperform” rating and a $27.00 price target on the stock. BTIG Research started coverage on Jersey Mike’s in a research report on Monday. They issued a “buy” rating and a $28.00 price target on the stock. Melius Research assumed coverage on shares of Jersey Mike’s in a research report on Thursday, July 30th. They set a “buy” rating and a $30.00 target price for the company. Finally, Mizuho began coverage on shares of Jersey Mike’s in a research report on Monday. They issued an “outperform” rating and a $31.00 price target on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.77.

Jersey Mike’s Stock Performance

Shares of Jersey Mike’s stock opened at $23.80 on Monday. Jersey Mike’s has a twelve month low of $20.63 and a twelve month high of $24.99.

Insider Activity at Jersey Mike’s

In other news, CAO James J. Whalen purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $57,500.00. Following the completion of the acquisition, the chief accounting officer directly owned 2,500 shares in the company, valued at approximately $57,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Abu Dhabi Investment Authority sold 4,411,064 shares of Jersey Mike’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 sale, the insider owned 36,114,272 shares of the company’s stock, valued at approximately $789,096,843.20. This represents a 10.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders purchased 31,584 shares of company stock valued at $726,432.

About Jersey Mike’s

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.