Jersey Mike’s (NYSE:JMKE) Shares Up 3.8% – Still a Buy?

Jersey Mike’s (NYSE:JMKE)’s stock price was up 3.8% on Thursday. The company traded as high as $16.73 and last traded at $17.02. 98,478 shares changed hands during trading, a decline of 97% from the average session volume of 3,321,257 shares. The stock had previously closed at $16.39.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Jersey Mike’s in a research note on Tuesday, August 25th. They issued a “neutral” rating and a $26.00 price objective on the stock. Wells Fargo & Company initiated coverage on shares of Jersey Mike’s in a report on Monday, August 24th. They issued an “equal weight” rating and a $25.00 target price on the stock. Mizuho cut their price target on shares of Jersey Mike’s from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th. UBS Group reaffirmed an “overweight” rating and set a $24.00 target price on shares of Jersey Mike’s in a research note on Tuesday, September 29th. Finally, Sanford C. Bernstein lifted their target price on Jersey Mike’s from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, September 10th. Twenty-one equities 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 presently has an average rating of “Moderate Buy” and an average price target of $27.91.

Jersey Mike’s Stock Performance

The stock has a fifty day simple moving average of $20.51. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36.

Jersey Mike’s (NYSE:JMKE) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $3,700.00 earnings per share (EPS) for the quarter. The business had revenue of $208.00 million for the quarter. Equities analysts forecast that Jersey Mike’s will post 0.65 EPS for the current year.

Insider Buying and Selling at Jersey Mike’s

In other Jersey Mike’s news, major shareholder Holdings L.P. Blackstone II sold 2,572,560 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $21.85, for a total value of $56,210,436.00. Following the completion of the sale, the insider owned 143,699 shares in the company, valued at approximately $3,139,823.15. This trade represents a 94.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michele Allen purchased 10,000 shares of the company’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 $230,000.00. Following the completion of the acquisition, the chief financial officer directly owned 10,043 shares of the company’s stock, valued at $230,989. This trade represents a 23,255.81% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 31,584 shares of company stock worth $726,432 and sold 9,938,318 shares worth $217,152,248.

About Jersey Mike’s

Jersey Mike’s is an American fast-casual restaurant company best known for submarine sandwiches made to order. Its menu typically includes cold subs, cheesesteaks, wraps, salads, sides, beverages and catering options. The brand emphasizes freshly sliced meats and cheeses, along with its signature “Mike’s Way” preparation featuring onions, lettuce, tomatoes, oil, vinegar and spices.

The company traces its roots to 1956, when the original Mike’s Submarines opened in Point Pleasant, New Jersey.