BTIG Research Raises Papa John’s Int’l (NASDAQ:PZZA) Price Target to $67.00

Papa John’s Int’l (NASDAQ:PZZA) had its price objective raised by BTIG Research to $67.00 in a research report report published on Thursday, The Fly reports. The brokerage currently has a positive rating on the stock.

A number of other brokerages have also recently commented on PZZA. Oppenheimer assumed coverage on shares of Papa John’s Int’l in a report on Tuesday, September 17th. They set a market perform rating for the company. MKM Partners cut shares of Papa John’s Int’l from a buy rating to a neutral rating and reduced their target price for the company from $55.00 to $50.00 in a report on Thursday. Credit Suisse Group upped their target price on shares of Papa John’s Int’l to $66.00 and gave the company an outperform rating in a report on Thursday. Northcoast Research reaffirmed a buy rating on shares of Papa John’s Int’l in a report on Thursday, October 24th. Finally, Jefferies Financial Group cut shares of Papa John’s Int’l from a buy rating to a hold rating and set a $58.00 target price for the company. in a report on Monday, November 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $61.56.

PZZA stock traded up $0.85 during midday trading on Thursday, reaching $62.61. 666,144 shares of the company’s stock traded hands, compared to its average volume of 993,217. Papa John’s Int’l has a 52-week low of $38.29 and a 52-week high of $63.29. The stock has a market cap of $1.82 billion, a P/E ratio of 46.72, a PEG ratio of 5.70 and a beta of 0.41. The stock’s 50-day moving average is $55.32 and its 200 day moving average is $49.63.

Papa John’s Int’l (NASDAQ:PZZA) last announced its earnings results on Wednesday, November 6th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $403.71 million for the quarter, compared to analysts’ expectations of $384.54 million. During the same period in the prior year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Papa John’s Int’l will post 1.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.44%. Papa John’s Int’l’s dividend payout ratio (DPR) is presently 67.16%.

In other news, major shareholder John H. Schnatter sold 475,861 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $43.22, for a total value of $20,566,712.42. Following the completion of the sale, the insider now directly owns 4,785,682 shares of the company’s stock, valued at $206,837,176.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder John H. Schnatter sold 100,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $42.80, for a total transaction of $4,280,000.00. Following the completion of the sale, the insider now directly owns 5,409,583 shares of the company’s stock, valued at $231,530,152.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,575,861 shares of company stock valued at $138,144,712. Corporate insiders own 43.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Papa John’s Int’l by 9.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,048 shares of the company’s stock worth $137,000 after acquiring an additional 251 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Papa John’s Int’l by 3.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,800 shares of the company’s stock worth $513,000 after acquiring an additional 300 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Papa John’s Int’l by 45.0% during the second quarter. Advisor Group Inc. now owns 1,530 shares of the company’s stock worth $68,000 after acquiring an additional 475 shares during the last quarter. Coastal Investment Advisors Inc. boosted its position in shares of Papa John’s Int’l by 2.6% during the second quarter. Coastal Investment Advisors Inc. now owns 20,696 shares of the company’s stock worth $923,000 after acquiring an additional 525 shares during the last quarter. Finally, Private Capital Group LLC bought a new position in shares of Papa John’s Int’l during the second quarter worth $34,000. 92.75% of the stock is owned by hedge funds and other institutional investors.

About Papa John’s Int’l

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

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