Papa John’s Int’l (NASDAQ:PZZA) Price Target Raised to $66.00

Papa John’s Int’l (NASDAQ:PZZA) had its target price upped by Credit Suisse Group to $66.00 in a research note released on Thursday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the stock.

PZZA has been the subject of a number of other reports. Stifel Nicolaus upgraded shares of Papa John’s Int’l from a hold rating to a buy rating and lifted their price target for the company from $42.00 to $60.00 in a research report on Wednesday, August 28th. Oppenheimer began coverage on shares of Papa John’s Int’l in a research report on Tuesday, September 17th. They set a market perform rating for the company. Northcoast Research reiterated a buy rating on shares of Papa John’s Int’l in a research report on Thursday, October 24th. Jefferies Financial Group cut shares of Papa John’s Int’l from a buy rating to a hold rating and set a $58.00 price objective for the company. in a report on Monday, November 4th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Papa John’s Int’l from a hold rating to a buy rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $61.56.

Shares of NASDAQ:PZZA traded down $0.82 during midday trading on Thursday, hitting $61.76. The company’s stock had a trading volume of 1,218,300 shares, compared to its average volume of 994,724. Papa John’s Int’l has a 12-month low of $38.29 and a 12-month high of $63.29. The company has a market cap of $1.82 billion, a P/E ratio of 46.09, a price-to-earnings-growth ratio of 5.70 and a beta of 0.41. The business’s 50 day simple moving average is $54.93 and its 200 day simple moving average is $49.50.

Papa John’s Int’l (NASDAQ:PZZA) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Papa John’s Int’l had a negative net margin of 1.32% and a negative return on equity of 11.61%. The company had revenue of $403.71 million for the quarter, compared to analyst estimates of $384.54 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. Papa John’s Int’l’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Papa John’s Int’l will post 1.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, November 7th. Papa John’s Int’l’s dividend payout ratio (DPR) is currently 67.16%.

In related news, major shareholder John H. Schnatter sold 100,000 shares of Papa John’s Int’l stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $57.58, for a total value of $5,758,000.00. Following the completion of the transaction, the insider now owns 4,789,682 shares in the company, valued at $275,789,889.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder John H. Schnatter sold 475,861 shares of Papa John’s Int’l stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $43.22, for a total transaction of $20,566,712.42. Following the completion of the transaction, the insider now owns 4,785,682 shares of the company’s stock, valued at approximately $206,837,176.04. The disclosure for this sale can be found here. Insiders sold 2,575,861 shares of company stock valued at $138,144,712 in the last 90 days. Company insiders own 43.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Papa John’s Int’l by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,025,295 shares of the company’s stock worth $90,571,000 after acquiring an additional 75,349 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Papa John’s Int’l by 1,073.1% in the second quarter. Balyasny Asset Management LLC now owns 679,625 shares of the company’s stock worth $30,393,000 after acquiring an additional 621,693 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Papa John’s Int’l by 36.3% in the second quarter. Renaissance Technologies LLC now owns 561,300 shares of the company’s stock worth $25,101,000 after acquiring an additional 149,400 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Papa John’s Int’l by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 444,787 shares of the company’s stock worth $19,891,000 after acquiring an additional 13,346 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Papa John’s Int’l by 2.2% in the second quarter. Northern Trust Corp now owns 431,400 shares of the company’s stock worth $19,293,000 after acquiring an additional 9,226 shares during the last quarter. Institutional investors own 92.75% of the company’s stock.

Papa John’s Int’l Company Profile

Papa John's International, Inc operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.

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The Fly

Analyst Recommendations for Papa John`s Int`l (NASDAQ:PZZA)

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