Papa John’s Int’l (NASDAQ:PZZA) Trading Up 1.6% on Analyst Upgrade
Papa John’s Int’l, Inc. (NASDAQ:PZZA) shares were up 1.6% on Thursday after BTIG Research raised their price target on the stock to $67.00. BTIG Research currently has a positive rating on the stock. Papa John’s Int’l traded as high as $62.05 and last traded at $62.14, approximately 60,733 shares changed hands during trading. A decline of 93% from the average daily volume of 919,691 shares. The stock had previously closed at $61.14.
A number of other research firms have also recently weighed in on PZZA. MKM Partners cut Papa John’s Int’l from a “buy” rating to a “neutral” rating and cut their price target for the company from $55.00 to $50.00 in a report on Thursday. Citigroup cut their price target on Papa John’s Int’l from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Stifel Nicolaus raised Papa John’s Int’l from a “hold” rating to a “buy” rating and lifted their price target for the company from $42.00 to $60.00 in a report on Wednesday, August 28th. Credit Suisse Group lifted their price target on Papa John’s Int’l to $66.00 and gave the company an “outperform” rating in a report on Thursday. Finally, CL King started coverage on Papa John’s Int’l in a report on Wednesday, October 23rd. They set a “buy” rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Papa John’s Int’l has a consensus rating of “Buy” and an average price target of $61.56.
In related news, major shareholder John H. Schnatter sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $42.80, for a total transaction of $4,280,000.00. Following the sale, the insider now owns 5,409,583 shares of the company’s stock, valued at $231,530,152.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder John H. Schnatter sold 475,861 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.22, for a total value of $20,566,712.42. Following the sale, the insider now directly owns 4,785,682 shares in the company, valued at approximately $206,837,176.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,575,861 shares of company stock worth $138,144,712. 43.00% of the stock is owned by corporate insiders.
The stock has a market cap of $1.82 billion, a P/E ratio of 46.09, a PEG ratio of 5.70 and a beta of 0.41. The company has a fifty day moving average of $54.93 and a 200 day moving average of $49.50.
Papa John’s Int’l (NASDAQ:PZZA) last announced its earnings results on Wednesday, November 6th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Papa John’s Int’l had a negative return on equity of 11.61% and a negative net margin of 1.32%. The firm had revenue of $403.71 million for the quarter, compared to the consensus estimate of $384.54 million. During the same period in the previous year, the firm earned $0.19 EPS. Papa John’s Int’l’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that Papa John’s Int’l, Inc. will post 1.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be issued a $0.225 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.46%. Papa John’s Int’l’s dividend payout ratio is currently 67.16%.
About Papa John’s Int’l (NASDAQ:PZZA)
Papa John's International, Inc operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.
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