Credit Suisse Group Increases Papa John’s Int’l (NASDAQ:PZZA) Price Target to $66.00

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Papa John’s Int’l (NASDAQ:PZZA) had its target price increased by stock analysts at Credit Suisse Group to $66.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would indicate a potential upside of 6.87% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group lowered 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 research note on Monday, November 4th. They noted that the move was a valuation call. Northcoast Research restated a “buy” rating on shares of Papa John’s Int’l in a research note on Thursday, October 24th. BidaskClub lowered Papa John’s Int’l from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 2nd. BTIG Research raised their price objective on Papa John’s Int’l to $62.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, ValuEngine upgraded Papa John’s Int’l from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company currently 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, reaching $61.76. 1,218,300 shares of the company’s stock traded hands, compared to its average volume of 994,724. Papa John’s Int’l has a 1 year low of $38.29 and a 1 year high of $63.29. The company has a market cap of $1.82 billion, a P/E ratio of 46.09, a PEG ratio of 5.70 and a beta of 0.41. The company has a fifty day simple moving average of $54.93 and a two-hundred day simple moving average of $49.50.

Papa John’s Int’l (NASDAQ:PZZA) last posted its earnings results on Wednesday, November 6th. The company reported $0.21 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $384.54 million. During the same quarter last year, the business posted $0.19 EPS. Papa John’s Int’l’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts forecast that Papa John’s Int’l will post 1.15 earnings per share for the current fiscal year.

In other Papa John’s Int’l news, major shareholder John H. Schnatter sold 100,000 shares of the firm’s stock in a transaction that occurred 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 owns 5,409,583 shares in the company, valued at approximately $231,530,152.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder John H. Schnatter sold 475,861 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.22, for a total value of $20,566,712.42. Following the transaction, the insider now directly owns 4,785,682 shares in the company, valued at approximately $206,837,176.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,575,861 shares of company stock valued at $138,144,712. 43.00% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in PZZA. Vanguard Group Inc. raised its position in shares of Papa John’s Int’l by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,025,295 shares of the company’s stock valued at $90,571,000 after acquiring an additional 75,349 shares during the last quarter. Balyasny Asset Management LLC lifted its position in shares of 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 valued at $30,393,000 after acquiring an additional 621,693 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 valued at $25,101,000 after acquiring an additional 149,400 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $19,891,000 after acquiring an additional 13,346 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of 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 valued at $19,293,000 after acquiring an additional 9,226 shares in the last quarter. 92.75% of the stock is currently owned by 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.

Further Reading: Market Perform

The Fly

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

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