Jersey Mike’s (NYSE:JMKE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Jersey Mike’s (NYSE:JMKE) have earned a consensus rating of “Moderate Buy” from the twenty-six research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $28.5217.

JMKE has been the topic of a number of research analyst reports. Melius Research began coverage on Jersey Mike’s in a research report on Thursday, July 30th. They set a “buy” rating and a $30.00 price target on the stock. TD Cowen reiterated a “buy” rating and issued a $26.00 price objective on shares of Jersey Mike’s in a research report on Wednesday, September 9th. The Goldman Sachs Group began coverage on Jersey Mike’s in a research note on Tuesday, August 25th. They set a “neutral” rating and a $26.00 target price for the company. Tigress Financial raised their target price on shares of Jersey Mike’s from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Finally, Guggenheim lifted their price target on shares of Jersey Mike’s from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, September 11th.

Insider Transactions at Jersey Mike’s

In other Jersey Mike’s news, CFO Michele Allen acquired 3,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $23.00 per share, with a total value of $69,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,500 shares in the company, valued at $34,500. This trade represents a -200.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stacy Peterson purchased 15,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $23.00 per share, for a total transaction of $345,000.00. Following the completion of the transaction, the chief operating officer directly owned 15,000 shares in the company, valued at approximately $345,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In 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 Stock Up 0.2%

Shares of JMKE opened at $20.10 on Friday. Jersey Mike’s has a 1 year low of $19.73 and a 1 year high of $24.99.

Jersey Mike’s Company Profile

Jersey Mike’s is a fast-casual restaurant company specializing in made-to-order submarine sandwiches. Its menu includes cold subs, cheesesteaks, wraps, salads, sides and beverages, with sandwiches prepared using sliced-to-order meats and cheeses, fresh vegetables and the company’s signature “Mike’s Way” dressing of onions, lettuce, tomatoes, vinegar and olive oil.

The business traces its roots to a neighborhood sub shop in Point Pleasant, New Jersey, which was established in 1956. Peter Cancro acquired the shop as a teenager in 1971 and developed it into the Jersey Mike’s brand.