Papa John’s International (NASDAQ:PZZA) Trading 6.1% Higher – Here’s What Happened

Papa John’s International, Inc. (NASDAQ:PZZA)’s share price shot up 6.1% during trading on Thursday . The stock traded as high as $35.26 and last traded at $34.8010. 474,904 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,325,424 shares. The stock had previously closed at $32.81.

Analyst Upgrades and Downgrades

PZZA has been the topic of several research reports. Benchmark reduced their price target on Papa John’s International from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Stephens cut their target price on shares of Papa John’s International from $49.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Zacks Research raised shares of Papa John’s International from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Papa John’s International in a research report on Friday, March 27th. Finally, Mizuho decreased their price target on Papa John’s International from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Papa John’s International has a consensus rating of “Hold” and a consensus price target of $45.00.

Papa John’s International Price Performance

The company’s 50-day moving average price is $33.74 and its two-hundred day moving average price is $40.08. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 1.54 and a beta of 1.18.

Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Papa John’s International had a net margin of 1.44% and a negative return on equity of 11.16%. The business had revenue of $498.18 million for the quarter, compared to analysts’ expectations of $517.25 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts expect that Papa John’s International, Inc. will post 2.19 EPS for the current fiscal year.

Papa John’s International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 9th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Monday, February 9th. Papa John’s International’s payout ratio is presently 206.74%.

Institutional Trading of Papa John’s International

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of Papa John’s International by 22.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,157 shares of the company’s stock valued at $56,000 after acquiring an additional 210 shares in the last quarter. Lazard Asset Management LLC bought a new position in Papa John’s International during the second quarter worth $59,000. Leonteq Securities AG acquired a new stake in Papa John’s International in the fourth quarter worth $71,000. Kestra Advisory Services LLC acquired a new stake in Papa John’s International in the fourth quarter worth $73,000. Finally, GAMMA Investing LLC increased its stake in Papa John’s International by 41.0% in the third quarter. GAMMA Investing LLC now owns 1,702 shares of the company’s stock valued at $82,000 after purchasing an additional 495 shares in the last quarter.

Papa John’s International Company Profile

Papa John’s International, Inc is a leading American pizza restaurant chain known for its focus on high-quality ingredients and consistent product offerings. Founded in 1984 by John Schnatter in Jeffersonville, Indiana, the company has grown to operate thousands of restaurants across the United States and in more than 40 international markets. Papa John’s restaurants are primarily franchised, supported by a network of corporate-owned outlets that together drive brand standards, operational guidance and marketing efforts.

The core menu at Papa John’s centers on a variety of hand-tossed and pan pizzas made with a signature stone-baked crust and topped with real cheese, vine-ripened tomato sauce and premium meats and vegetables.