Guggenheim Begins Coverage on Jersey Mike’s (NYSE:JMKE)

Equities researchers at Guggenheim initiated coverage on shares of Jersey Mike’s (NYSE:JMKE) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a $28.00 price target on the stock. Guggenheim’s target price suggests a potential upside of 17.65% from the company’s current price.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus assumed coverage on shares of Jersey Mike’s in a research note on Monday. They set a “buy” rating and a $27.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on Jersey Mike’s in a research note on Monday. They set a “buy” rating and a $27.00 price target for the company. Sanford C. Bernstein started coverage on shares of Jersey Mike’s in a report on Monday. They set a “market perform” rating and a $26.00 price target for the company. Bank of America started coverage on Jersey Mike’s in a report on Monday. They issued a “buy” rating and a $27.00 target price for the company. Finally, Jefferies Financial Group began coverage on shares of Jersey Mike’s in a research report on Monday. They set a “buy” rating and a $29.00 price target for the company. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.43.

Jersey Mike’s Stock Performance

NYSE:JMKE opened at $23.80 on Monday. Jersey Mike’s has a 12 month low of $20.63 and a 12 month high of $24.99.

Insider Activity

In other Jersey Mike’s news, CAO James J. Whalen purchased 2,500 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $23.00 per share, with a total value of $57,500.00. Following the purchase, the chief accounting officer owned 2,500 shares in the company, valued at approximately $57,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Stacy Peterson bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was bought 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 of the company’s stock, valued at approximately $345,000. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 31,584 shares of company stock worth $726,432.

Key Jersey Mike’s News

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

Jersey Mike’s Company Profile

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.