Papa John’s International, Inc. (PZZA) Stock Rating Reaffirmed by Jefferies Group LLC
Papa John’s International, Inc. (NASDAQ:PZZA)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $65.00 price objective on the stock. Jefferies Group LLC’s price objective suggests a potential upside of 5.74% from the stock’s current price. Jefferies Group also issued estimates for Papa John’s International’s Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.75 EPS, Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.78 EPS and FY2018 earnings at $2.90 EPS.
A number of other analysts have also weighed in on the company. BTIG Research restated a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Papa John’s International in a research note on Tuesday, October 24th. Citigroup Inc. began coverage on Papa John’s International in a research report on Monday, September 18th. They set a “buy” rating and a $90.00 target price for the company. Stephens decreased their target price on Papa John’s International from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, October 11th. Zacks Investment Research upgraded Papa John’s International from a “strong sell” rating to a “hold” rating in a research report on Friday, July 7th. Finally, Instinet reiterated a “neutral” rating and set a $78.00 price objective (down previously from $84.00) on shares of Papa John’s International in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Papa John’s International has a consensus rating of “Hold” and a consensus price target of $79.56.
Shares of Papa John’s International (NASDAQ PZZA) traded down $1.55 during trading on Friday, hitting $61.47. 971,693 shares of the stock traded hands, compared to its average volume of 874,744. The firm has a market capitalization of $2,154.03, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 1.73 and a beta of 0.47. The company has a debt-to-equity ratio of -8.26, a quick ratio of 1.08 and a current ratio of 1.21. Papa John’s International has a twelve month low of $59.36 and a twelve month high of $90.49.
Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). The company had revenue of $431.70 million for the quarter, compared to the consensus estimate of $427.23 million. Papa John’s International had a net margin of 6.12% and a return on equity of 4,321.08%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. analysts anticipate that Papa John’s International will post 2.76 earnings per share for the current year.
Papa John’s International announced that its board has authorized a share repurchase plan on Tuesday, August 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 198% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
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In other Papa John’s International news, SVP Timothy C. Ohern sold 9,218 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $75.08, for a total transaction of $692,087.44. Following the completion of the sale, the senior vice president now directly owns 35,650 shares of the company’s stock, valued at $2,676,602. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 27.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Flinton Capital Management LLC grew its holdings in Papa John’s International by 76.9% during the second quarter. Flinton Capital Management LLC now owns 1,840 shares of the company’s stock valued at $132,000 after purchasing an additional 800 shares during the last quarter. Victory Capital Management Inc. lifted its position in Papa John’s International by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,574 shares of the company’s stock worth $185,000 after purchasing an additional 386 shares during the period. Trexquant Investment LP bought a new position in shares of Papa John’s International during the second quarter valued at $201,000. Riverhead Capital Management LLC lifted its holdings in shares of Papa John’s International by 87.3% during the second quarter. Riverhead Capital Management LLC now owns 2,996 shares of the company’s stock valued at $215,000 after acquiring an additional 1,396 shares during the period. Finally, Nine Chapters Capital Management LLC bought a new position in shares of Papa John’s International during the third quarter valued at $219,000. Institutional investors own 84.18% of the company’s stock.
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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