Papa John’s International, Inc. (PZZA) PT Raised to $95.00
Papa John’s International, Inc. (NASDAQ:PZZA) had its target price increased by analysts at Stephens from $90.00 to $95.00 in a research note issued on Wednesday. The firm presently has an “overweight” rating on the stock. Stephens’ price target would suggest a potential upside of 23.44% from the company’s previous close.
Other analysts have also recently issued reports about the stock. Longbow Research reiterated a “buy” rating and issued a $95.00 target price on shares of Papa John’s International in a research note on Monday, May 22nd. KeyCorp reissued an “equal weight” rating on shares of Papa John’s International in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of Papa John’s International from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $83.00 price target on shares of Papa John’s International in a research report on Friday, July 14th. Finally, Instinet lifted their price target on shares of Papa John’s International from $76.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.17.
Papa John’s International (PZZA) traded down 0.53% during midday trading on Wednesday, reaching $76.96. 647,876 shares of the company were exchanged. Papa John’s International has a one year low of $70.73 and a one year high of $90.49. The firm’s 50-day moving average is $74.73 and its 200-day moving average is $78.90. The firm has a market cap of $2.80 billion, a P/E ratio of 26.81 and a beta of 0.51.
Papa John’s International (NASDAQ:PZZA) last posted its earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $434.78 million during the quarter, compared to analysts’ expectations of $438.51 million. Papa John’s International had a net margin of 6.13% and a return on equity of 919.82%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. On average, equities analysts expect that Papa John’s International will post $2.86 EPS for the current fiscal year.
Papa John’s International declared that its board has approved a share buyback plan on Tuesday, August 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 198% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP Timothy C. Ohern sold 6,000 shares of Papa John’s International stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $81.79, for a total value of $490,740.00. Following the transaction, the senior vice president now owns 36,020 shares of the company’s stock, valued at $2,946,075.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steve M. Ritchie sold 10,396 shares of Papa John’s International stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $80.00, for a total transaction of $831,680.00. Following the completion of the transaction, the insider now directly owns 37,601 shares in the company, valued at approximately $3,008,080. The disclosure for this sale can be found here. In the last three months, insiders sold 20,447 shares of company stock worth $1,656,182. Insiders own 27.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PZZA. BlackRock Inc. raised its position in shares of Papa John’s International by 13,761.9% in the first quarter. BlackRock Inc. now owns 3,080,947 shares of the company’s stock worth $246,601,000 after buying an additional 3,058,721 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Papa John’s International by 197.9% in the first quarter. TimesSquare Capital Management LLC now owns 961,660 shares of the company’s stock worth $76,971,000 after buying an additional 638,860 shares during the period. Norges Bank bought a new position in shares of Papa John’s International during the fourth quarter worth about $19,911,000. Marshall Wace North America L.P. raised its position in shares of Papa John’s International by 391.8% in the second quarter. Marshall Wace North America L.P. now owns 244,530 shares of the company’s stock worth $17,607,000 after buying an additional 194,804 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Papa John’s International by 7.3% in the first quarter. Vanguard Group Inc. now owns 2,378,840 shares of the company’s stock worth $190,402,000 after buying an additional 160,913 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.
About Papa John’s International
Papa John’s International, Inc (Papa John’s) operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants under the trademark Papa John’s. The Company operates through five segments: domestic Company-owned restaurants, North America commissaries, North America franchising, international operations and all other business units.
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