Wells Fargo & Company Trims Domino’s Pizza (NYSE:DPZ) Target Price to $420.00

Domino’s Pizza (NYSE:DPZ) had its price target reduced by investment analysts at Wells Fargo & Company from $450.00 to $420.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the restaurant operator’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 2.46% from the company’s current price.

Several other analysts have also recently issued reports on the company. Bank of America increased their target price on Domino’s Pizza from $577.00 to $582.00 and gave the company a “buy” rating in a research report on Friday, October 4th. TD Cowen reduced their target price on shares of Domino’s Pizza from $520.00 to $475.00 and set a “buy” rating for the company in a report on Monday, September 16th. Wedbush cut their price target on shares of Domino’s Pizza from $510.00 to $470.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on Domino’s Pizza from $470.00 to $450.00 and set a “neutral” rating for the company in a report on Friday. Finally, Evercore ISI dropped their target price on Domino’s Pizza from $500.00 to $480.00 and set an “outperform” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Domino’s Pizza presently has an average rating of “Moderate Buy” and a consensus price target of $499.03.

Domino’s Pizza Stock Performance

NYSE DPZ traded up $21.85 on Friday, reaching $430.60. 559,911 shares of the stock traded hands, compared to its average volume of 612,568. Domino’s Pizza has a 12 month low of $332.13 and a 12 month high of $542.75. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.23 and a beta of 0.86. The company has a fifty day moving average price of $421.61 and a 200-day moving average price of $469.81.

Domino’s Pizza (NYSE:DPZ) last posted its earnings results on Thursday, October 10th. The restaurant operator reported $4.19 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.54. Domino’s Pizza had a net margin of 12.42% and a negative return on equity of 14.22%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm posted $4.18 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that Domino’s Pizza will post 16.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Domino’s Pizza

Several large investors have recently modified their holdings of DPZ. Bayesian Capital Management LP boosted its position in Domino’s Pizza by 701.3% in the 1st quarter. Bayesian Capital Management LP now owns 4,800 shares of the restaurant operator’s stock valued at $2,385,000 after buying an additional 4,201 shares during the period. Bessemer Group Inc. grew its holdings in Domino’s Pizza by 34.9% during the 1st quarter. Bessemer Group Inc. now owns 4,950 shares of the restaurant operator’s stock worth $2,460,000 after acquiring an additional 1,280 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Domino’s Pizza by 107.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 444,780 shares of the restaurant operator’s stock valued at $221,003,000 after purchasing an additional 230,090 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Domino’s Pizza by 866.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 49,846 shares of the restaurant operator’s stock valued at $25,737,000 after purchasing an additional 44,688 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Domino’s Pizza by 18.7% during the 1st quarter. Russell Investments Group Ltd. now owns 55,438 shares of the restaurant operator’s stock worth $27,518,000 after purchasing an additional 8,744 shares during the last quarter. Institutional investors and hedge funds own 94.63% of the company’s stock.

Domino’s Pizza Company Profile

Domino’s Pizza, Inc, through its subsidiaries, operates as a pizza company in the United States and internationally. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino’s brand name through company-owned and franchised stores.