Jamba, Inc. (NASDAQ:JMBA), a leading healthy, active lifestyle brand announced today the completion of a refranchising agreement for 73 stores in the San Jose/Easy Bayand Sacramento markets with Vitaligent, LLC (“Vitaligent”). Under the terms of the agreement the Company will receive $25 million in cash. The Company expects to sell the remaining 27 Company locations in the San Diego market by the end of 2015.

“We see the closing of the first 73 stores as a great accomplishment for our continued refranchising efforts toward an asset light business model,” statedJames D. White, chairman, president and chief executive officer of Jamba. “Given the size and complexity of this transaction we have decided to delay the refranchising of the San Diego stores to the end of 2015 in order to complete theNorthern California transaction with excellence. We are still fully on track to close Phase II of our accelerated refranchising initiative by year end, reaching our goal to move to a franchise to company-owned store ratio of 90%/10%.” (Original Source)

Shares of Jamba closed today at $15.20, up $0.05 or 0.33%. JMBA has a 1-year high of $16.89 and a 1-year low of $11.56. The stock’s 50-day moving average is $15.47 and its 200-day moving average is $15.51.

On the ratings front, Jamba has been the subject of a number of recent research reports. In a report issued on May 12, Canaccord Genuity analyst Scott Van Winkle reiterated a Buy rating on JMBA, with a price target of $18, which represents a potential upside of 18.8% from where the stock is currently trading. Separately, on May 11, Wedbush’s Philip Terpolilli maintained a Buy rating on the stock and has a price target of $18.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Scott Van Winkle and Philip Terpolilli have a total average return of 8.7% and -2.4% respectively. Winkle has a success rate of 51.6% and is ranked #454 out of 3717 analysts, while Terpolilli has a success rate of 42.9% and is ranked #2877.

Jamba Inc owns, franchises and operates food stores. The Company is a retailer of blended-to-order fruit smoothies, squeezed-to-order juices, blended beverages and snacks.