JPMorgan Chase & Co. Begins Coverage on Jersey Mike’s (NYSE:JMKE)

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research report issued on Monday. The firm set an “overweight” rating and a $26.00 price target on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.24% from the stock’s current price.

A number of other research firms have also commented on JMKE. Piper Sandler initiated coverage on Jersey Mike’s in a research report on Monday. They issued an “overweight” rating and a $29.00 price target for the company. UBS Group set a $27.00 price target on shares of Jersey Mike’s in a research note on Monday. William Blair initiated coverage on Jersey Mike’s in a research note on Monday. They issued an “outperform” rating on the stock. Evercore initiated coverage on shares of Jersey Mike’s in a report on Monday. They set an “outperform” rating and a $28.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $29.00 price target on the stock. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Jersey Mike’s has an average rating of “Moderate Buy” and an average price target of $28.43.

Jersey Mike’s Trading Down 0.3%

JMKE opened at $23.80 on Monday. Jersey Mike’s has a 1-year low of $20.63 and a 1-year high of $24.99.

Insider Activity

In other news, CAO James J. Whalen purchased 2,500 shares of the company’s stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $23.00 per share, with a total value of $57,500.00. Following the transaction, the chief accounting officer directly owned 2,500 shares of the company’s stock, valued at approximately $57,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the purchase, the chief financial officer owned 1,500 shares of the company’s stock, valued at approximately $34,500. The trade was a -200.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 31,584 shares of company stock worth $726,432.

Jersey Mike’s News Summary

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

• Positive Sentiment: Mizuho initiated coverage with an “outperform” rating and a $31 price target, implying approximately 30% potential upside. Benzinga article
• Positive Sentiment: Piper Sandler and Morgan Stanley each rated the stock “overweight” and set $29 price targets, implying roughly 22% upside. Benzinga article
• Positive Sentiment: BTIG Research initiated coverage with a “buy” rating and a $28 target, while Evercore assigned an “outperform” rating with the same target. Benzinga article
• Positive Sentiment: Stifel Nicolaus and Robert W. Baird both issued positive ratings and $27 price targets. Benzinga article
• Neutral Sentiment: Bernstein rated Jersey Mike’s “market perform,” while TD Cowen rated it “buy”; both set $26 targets, the lowest among the new estimates. Benzinga article

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.