Zacks Investment Research Downgrades Popeyes Louisiana Kitchen, Inc. (PLKI) to Sell
Popeyes Louisiana Kitchen, Inc. (NASDAQ:PLKI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Popeyes Louisiana Kitchen Inc. owns, operates and franchises a chain of quick-service restaurants. The company operates in two business segments: franchise operations and company-operated restaurants. It operates primarily in Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia and Mississippi. Popeyes Louisiana Kitchen Inc., formerly known as AFC Enterprises, Inc., is based in Atlanta, United States. “
Several other research firms have also recently issued reports on PLKI. Maxim Group raised their price objective on shares of Popeyes Louisiana Kitchen from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Friday, November 11th. Jefferies Group cut shares of Popeyes Louisiana Kitchen from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a research report on Thursday, November 10th. They noted that the move was a valuation call. Finally, TheStreet cut shares of Popeyes Louisiana Kitchen from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $59.94.
Popeyes Louisiana Kitchen (NASDAQ:PLKI) traded down 1.02% during midday trading on Wednesday, hitting $61.39. 40,192 shares of the stock traded hands. The company’s 50-day moving average is $61.25 and its 200 day moving average is $56.51. The firm has a market cap of $1.27 billion, a P/E ratio of 31.39 and a beta of -0.04. Popeyes Louisiana Kitchen has a 12-month low of $49.11 and a 12-month high of $63.11.
Popeyes Louisiana Kitchen (NASDAQ:PLKI) last issued its earnings results on Wednesday, November 9th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The business earned $64 million during the quarter, compared to analysts’ expectations of $64.92 million. Popeyes Louisiana Kitchen had a net margin of 16.19% and a return on equity of 132.85%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. On average, analysts anticipate that Popeyes Louisiana Kitchen will post $2.11 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in PLKI. Victory Capital Management Inc. raised its position in shares of Popeyes Louisiana Kitchen by 43,786.4% in the third quarter. Victory Capital Management Inc. now owns 795,660 shares of the company’s stock valued at $42,282,000 after buying an additional 793,847 shares during the period. Melvin Capital Management LP bought a new position in shares of Popeyes Louisiana Kitchen during the second quarter valued at $17,810,000. Janus Capital Management LLC raised its position in shares of Popeyes Louisiana Kitchen by 18.0% in the second quarter. Janus Capital Management LLC now owns 1,534,867 shares of the company’s stock valued at $83,865,000 after buying an additional 233,912 shares during the period. Cypress Funds LLC bought a new position in shares of Popeyes Louisiana Kitchen during the third quarter valued at $10,628,000. Finally, RS Investment Management Co. LLC raised its position in shares of Popeyes Louisiana Kitchen by 20.3% in the second quarter. RS Investment Management Co. LLC now owns 1,054,328 shares of the company’s stock valued at $57,608,000 after buying an additional 178,130 shares during the period. 97.08% of the stock is owned by institutional investors.
About Popeyes Louisiana Kitchen
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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