Papa John’s International, Inc. (PZZA) Earns “Hold” Rating from Jefferies Group LLC
Papa John’s International, Inc. (NASDAQ:PZZA)‘s stock had its “hold” rating restated by equities researchers at Jefferies Group LLC in a report issued on Friday. They currently have a $65.00 target price on the stock. Jefferies Group LLC’s target price would indicate a potential upside of 5.74% from the stock’s previous close. Jefferies Group also issued estimates for Papa John’s International’s Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.75 EPS, Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.78 EPS and FY2018 earnings at $2.90 EPS.
PZZA has been the topic of several other reports. Nomura reduced their price target on Papa John’s International from $78.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. BTIG Research restated a “buy” rating and set a $100.00 price target on shares of Papa John’s International in a research report on Tuesday, August 29th. Stifel Nicolaus started coverage on Papa John’s International in a research report on Monday, October 2nd. They set a “hold” rating and a $65.00 price target on the stock. Zacks Investment Research lowered Papa John’s International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, TheStreet lowered Papa John’s International from a “b” rating to a “c+” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Papa John’s International has a consensus rating of “Hold” and a consensus target price of $79.56.
Papa John’s International (NASDAQ PZZA) traded down $1.55 on Friday, reaching $61.47. The company had a trading volume of 971,693 shares, compared to its average volume of 874,744. The company has a current ratio of 1.21, a quick ratio of 1.08 and a debt-to-equity ratio of -8.26. Papa John’s International has a fifty-two week low of $59.36 and a fifty-two week high of $90.49. The company has a market cap of $2,154.03, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.73 and a beta of 0.47.
Papa John’s International (NASDAQ:PZZA) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Papa John’s International had a return on equity of 4,321.08% and a net margin of 6.12%. The company had revenue of $431.70 million for the quarter, compared to the consensus estimate of $427.23 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. Papa John’s International’s revenue was up 2.2% compared to the same quarter last year. equities research analysts anticipate that Papa John’s International will post 2.76 EPS for the current fiscal year.
Papa John’s International announced that its board has authorized a stock buyback plan on Tuesday, August 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 198% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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In related 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 stock was sold at an average price of $75.08, for a total transaction of $692,087.44. Following the sale, the senior vice president now directly owns 35,650 shares in the company, valued at $2,676,602. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 27.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PZZA. Flinton Capital Management LLC boosted its position in shares of Papa John’s International by 76.9% during the second quarter. Flinton Capital Management LLC now owns 1,840 shares of the company’s stock valued at $132,000 after purchasing an additional 800 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Papa John’s International by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,574 shares of the company’s stock valued at $185,000 after purchasing an additional 386 shares in the last quarter. Trexquant Investment LP purchased a new position in Papa John’s International during the second quarter valued at $201,000. Riverhead Capital Management LLC raised its stake in Papa John’s International by 87.3% during the second quarter. Riverhead Capital Management LLC now owns 2,996 shares of the company’s stock valued at $215,000 after buying an additional 1,396 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in Papa John’s International by 11.5% during the second quarter. LS Investment Advisors LLC now owns 3,047 shares of the company’s stock valued at $219,000 after buying an additional 315 shares during the last quarter. Institutional investors own 84.18% of the company’s stock.
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.
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