Shares of Papa John’s International Inc. (NASDAQ:PZZA) dropped 3% on Tuesday . The stock traded as low as $71.93 and last traded at $72.06, with a volume of 172,382 shares trading hands. The stock had previously closed at $74.31.

PZZA has been the subject of several research analyst reports. Zacks Investment Research raised shares of Papa John’s International from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Monday, May 9th. TheStreet downgraded shares of Papa John’s International to a “hold” rating in a research note on Friday, May 6th. KeyCorp raised shares of Papa John’s International from a “sector weight” rating to an “overweight” rating and set a $80.00 price target for the company in a research note on Wednesday, July 20th. Nomura Holdings Inc. downgraded shares of Papa John’s International from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $66.47 to $70.00 in a research note on Wednesday, June 22nd. Finally, Nomura downgraded shares of Papa John’s International from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 22nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.50.

The firm has a market cap of $2.69 billion and a price-to-earnings ratio of 35.73. The stock has a 50-day moving average price of $67.63 and a 200 day moving average price of $58.49.

Papa John’s International (NASDAQ:PZZA) last issued its earnings results on Tuesday, May 3rd. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. During the same period in the previous year, the firm earned $0.55 EPS. The firm earned $428.60 million during the quarter, compared to analysts’ expectations of $440.89 million. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts anticipate that Papa John’s International Inc. will post $2.40 EPS for the current year.

A number of hedge funds recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in Papa John’s International by 7.4% in the fourth quarter. Advisors Asset Management Inc. now owns 19,277 shares of the company’s stock worth $1,077,000 after buying an additional 1,335 shares in the last quarter. Pear Tree Advisors Inc. bought a new stake in Papa John’s International during the fourth quarter worth approximately $1,236,000. Trexquant Investment LP bought a new stake in Papa John’s International during the fourth quarter worth approximately $1,861,000. GSA Capital Partners LLP increased its stake in Papa John’s International by 197.3% in the fourth quarter. GSA Capital Partners LLP now owns 35,106 shares of the company’s stock worth $1,961,000 after buying an additional 23,299 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Papa John’s International by 5.6% in the fourth quarter. Rhumbline Advisers now owns 45,260 shares of the company’s stock worth $2,529,000 after buying an additional 2,410 shares in the last quarter.

Papa John’s International, Inc operates and franchises pizza delivery and carryout restaurants. The Company operates restaurants under the trademark Papa John’s. It operates in five segments: domestic Company-owned restaurants, domestic commissaries, North America franchising, international operations, and all other business units.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.