Jamba, Inc. (NASDAQ:JMBA) a leading health and wellness brand and leading retailer of freshly-squeezed juice announced an acceleration of its retail growth plan with a development agreement that will yield 25 new locations in key New York markets. The agreement was reached with Steve Menexas who, with his brother George Menexas, bring a wealth of franchising experience from other restaurant concepts, including Dunkin’ Donuts and Tony Roma’s. Mr. Menexas is a highly seasoned business owner and veteran of franchising, having been cited as “Global Franchisee of the Year” and “Global Partner of the Year” from other restaurant chains.
“We are excited with our continued expansion across the U.S. and particularly in such an important market as New York,” stated James D. White chairman, president and CEO of Jamba. “And we are pleased to extend our partnership to Steve and George, who are proven business owners, as we continue to accelerate the Company’s growth initiative.”
Jamba offers flexible retail formats ranging from full-size, traditional stores to several smaller formats that lend to placement in a broad set of locations. The 25 new locations will be comprised of a variety of Jamba formats, and will be built inManhattan and Long Island. Menexas plans to open the first four to six locations by early 2016. (Original Source)
Shares of Jamba closed last Friday at $16.29. 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 $15.51 and its 200-day moving average is $15.52.
On the ratings front, Jamba has been the subject of a number of recent research reports. In a report issued on July 30, Canaccord Genuity analyst Scott Van Winkle reiterated a Buy rating on JMBA, with a price target of $18, which implies an upside of 10.5% from current levels. 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 9.3% and 0% respectively. Winkle has a success rate of 54.1% and is ranked #396 out of 3724 analysts, while Terpolilli has a success rate of 50% and is ranked #2681.
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.