Popeyes Louisiana Kitchen Inc. (NASDAQ:PLKI) traded down 9% on Wednesday . The stock traded as low as $52.04 and last traded at $53.22, with a volume of 883,293 shares traded. The stock had previously closed at $58.48.

Several equities research analysts recently weighed in on the company. Wedbush restated an “outperform” rating and issued a $65.00 target price on shares of Popeyes Louisiana Kitchen in a report on Wednesday. Piper Jaffray Cos. restated an “in-line” rating on shares of Popeyes Louisiana Kitchen in a report on Wednesday. Maxim Group lowered Popeyes Louisiana Kitchen from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a report on Wednesday. Jefferies Group restated a “buy” rating on shares of Popeyes Louisiana Kitchen in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Popeyes Louisiana Kitchen from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Popeyes Louisiana Kitchen has an average rating of “Hold” and a consensus price target of $61.71.

The stock has a market cap of $1.21 billion and a price-to-earnings ratio of 28.93. The stock’s 50 day moving average price is $56.41 and its 200-day moving average price is $55.44.

Popeyes Louisiana Kitchen (NASDAQ:PLKI) last issued its quarterly earnings results on Tuesday, August 16th. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $61.70 million for the quarter, compared to analyst estimates of $63.40 million. During the same period last year, the business posted $0.44 earnings per share. Popeyes Louisiana Kitchen’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts predict that Popeyes Louisiana Kitchen Inc. will post $2.11 EPS for the current year.

Several hedge funds and institutional investors have modified their holdings of the stock. RS Investment Management Co. LLC raised its position in shares of Popeyes Louisiana Kitchen by 6.5% in the fourth quarter. RS Investment Management Co. LLC now owns 1,472,829 shares of the company’s stock worth $86,160,000 after buying an additional 89,770 shares during the period. Nicholas Co. Inc. WI raised its position in shares of Popeyes Louisiana Kitchen by 6.6% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,508,158 shares of the company’s stock worth $88,227,000 after buying an additional 93,466 shares during the period. I.G. Investment Management LTD. raised its position in shares of Popeyes Louisiana Kitchen by 0.6% in the fourth quarter. I.G. Investment Management LTD. now owns 32,666 shares of the company’s stock worth $1,911,000 after buying an additional 202 shares during the period. New York State Common Retirement Fund raised its position in shares of Popeyes Louisiana Kitchen by 1.7% in the fourth quarter. New York State Common Retirement Fund now owns 42,352 shares of the company’s stock worth $2,478,000 after buying an additional 700 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Popeyes Louisiana Kitchen by 6.7% in the fourth quarter. Rhumbline Advisers now owns 29,609 shares of the company’s stock worth $1,732,000 after buying an additional 1,855 shares during the period.

Popeyes Louisiana Kitchen, Inc operates and franchises quick-service restaurants (QSRs or restaurants) under the trade names Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits. The Company operates through two segments: franchise operations and company-operated restaurants. The franchise segment consists of domestic and international franchising activities.

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