Papa John’s International, Inc. (NASDAQ:PZZA)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a note issued to investors on Tuesday, October 24th, MarketBeat.com reports. They currently have a $90.00 target price on the stock, down from their prior target price of $100.00. BTIG Research’s target price points to a potential upside of 51.18% from the stock’s current price.
A number of other research analysts have also weighed in on PZZA. BidaskClub lowered Papa John’s International from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Stifel Nicolaus began coverage on Papa John’s International in a research report on Monday, October 2nd. They issued a “hold” rating and a $65.00 target price on the stock. Stephens restated an “overweight” rating and set a $90.00 target price (down from $100.00) on shares of Papa John’s International in a research note on Monday, June 26th. Zacks Investment Research downgraded Papa John’s International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Citigroup Inc. began coverage on Papa John’s International in a research note on Monday, September 18th. They issued a “buy” rating and a $90.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $79.56.
Papa John’s International (PZZA) opened at $59.53 on Tuesday. The company has a market capitalization of $2,086.05, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.66 and a beta of 0.47. Papa John’s International has a one year low of $57.22 and a one year high of $90.49. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of -8.26.
Papa John’s International (NASDAQ:PZZA) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). Papa John’s International had a net margin of 6.12% and a return on equity of 4,321.08%. The company had revenue of $431.70 million for the quarter, compared to analysts’ expectations of $427.23 million. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. analysts anticipate that Papa John’s International will post 2.76 earnings per share for the current fiscal year.
Papa John’s International declared that its board has authorized a stock repurchase program on Tuesday, August 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 198% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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In related news, Director Wayne Kent Taylor acquired 8,860 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were bought at an average price of $57.53 per share, for a total transaction of $509,715.80. Following the acquisition, the director now owns 30,822 shares in the company, valued at approximately $1,773,189.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Timothy C. Ohern sold 9,218 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $75.08, for a total transaction of $692,087.44. Following the transaction, the senior vice president now owns 35,650 shares in the company, valued at approximately $2,676,602. The disclosure for this sale can be found here. Insiders own 27.70% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Koch Industries Inc. lifted its position in shares of Papa John’s International by 6,732.0% during the second quarter. Koch Industries Inc. now owns 297,807 shares of the company’s stock worth $294,000 after purchasing an additional 293,448 shares in the last quarter. Gotham Asset Management LLC acquired a new position in Papa John’s International in the second quarter valued at approximately $490,000. BlackRock Inc. lifted its holdings in 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 valued at $246,601,000 after buying an additional 3,058,721 shares during the period. State Street Corp lifted its holdings in Papa John’s International by 4.0% in the second quarter. State Street Corp now owns 878,119 shares of the company’s stock valued at $63,013,000 after buying an additional 33,578 shares during the period. Finally, Nomura Holdings Inc. lifted its holdings in Papa John’s International by 30.0% in the second quarter. Nomura Holdings Inc. now owns 7,361 shares of the company’s stock valued at $529,000 after buying an additional 1,698 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.
Papa John’s International Company Profile
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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