Papa John’s International, Inc. (NASDAQ:PZZA) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

PZZA has been the subject of several other research reports. Stephens lowered their target price on shares of Papa John’s International from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, October 11th. Jefferies Group LLC reiterated a “hold” rating and set a $83.00 price objective on shares of Papa John’s International in a report on Friday, July 14th. Zacks Investment Research lowered shares of Papa John’s International from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Citigroup Inc. started coverage on shares of Papa John’s International in a report on Monday, September 18th. They set a “buy” rating and a $90.00 price objective for the company. Finally, Instinet reiterated a “neutral” rating and set a $78.00 price objective (down previously from $84.00) on shares of Papa John’s International in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $82.11.

Papa John’s International (NASDAQ:PZZA) last released its earnings results on Tuesday, October 31st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). The firm had revenue of $431.70 million during the quarter, compared to the consensus estimate of $427.23 million. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. Papa John’s International’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS.

Papa John’s International announced that its board has approved a stock repurchase plan on Tuesday, August 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 198% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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In other news, SVP Timothy C. Ohern sold 9,218 shares of Papa John’s International stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $75.08, for a total value of $692,087.44. Following the transaction, the senior vice president now owns 35,650 shares of the company’s stock, valued at approximately $2,676,602. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 27.70% of the company’s stock.

Several institutional investors have recently modified their holdings of PZZA. BlackRock Inc. grew its position in shares of Papa John’s International by 13,761.9% in the 1st quarter. BlackRock Inc. now owns 3,080,947 shares of the company’s stock worth $246,601,000 after buying an additional 3,058,721 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Papa John’s International by 275.1% in the 2nd quarter. Prudential Financial Inc. now owns 420,107 shares of the company’s stock worth $30,147,000 after buying an additional 308,110 shares during the last quarter. Koch Industries Inc. grew its position in shares of Papa John’s International by 6,732.0% in the 2nd quarter. Koch Industries Inc. now owns 297,807 shares of the company’s stock worth $294,000 after buying an additional 293,448 shares during the last quarter. Marshall Wace North America L.P. grew its position in shares of Papa John’s International by 391.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 244,530 shares of the company’s stock worth $17,607,000 after buying an additional 194,804 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Papa John’s International by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 2,378,840 shares of the company’s stock worth $190,402,000 after buying an additional 160,913 shares during the last quarter. 84.18% of the stock is currently owned by hedge funds and other institutional investors.

About Papa John’s International

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.

The Fly

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

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