Nomura Lowers Papa John’s International, Inc. (PZZA) Price Target to $71.00

Papa John’s International, Inc. (NASDAQ:PZZA) had its price target cut by equities researchers at Nomura from $78.00 to $71.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the stock. Nomura’s target price indicates a potential upside of 3.94% from the company’s current price.

Several other research firms have also recently weighed in on PZZA. Zacks Investment Research cut Papa John’s International from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BTIG Research restated a “buy” rating and set a $100.00 price target on shares of Papa John’s International in a report on Tuesday, August 29th. BidaskClub cut Papa John’s International from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Stifel Nicolaus initiated coverage on Papa John’s International in a report on Monday, October 2nd. They set a “hold” rating and a $65.00 price target for the company. Finally, Instinet restated a “neutral” rating and set a $78.00 price target (down previously from $84.00) on shares of Papa John’s International in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $82.11.

Papa John’s International (NASDAQ PZZA) traded down 0.32% during mid-day trading on Friday, reaching $68.31. The company had a trading volume of 538,727 shares. The firm has a 50-day moving average of $71.34 and a 200 day moving average of $75.93. Papa John’s International has a 1-year low of $65.95 and a 1-year high of $90.49. The company has a market capitalization of $2.49 billion, a PE ratio of 23.80 and a beta of 0.50.

Papa John’s International (NASDAQ:PZZA) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $434.78 million during the quarter, compared to analysts’ expectations of $438.51 million. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. On average, analysts predict that Papa John’s International will post $2.85 earnings per share for the current fiscal year.

Papa John’s International announced that its board has initiated a stock repurchase plan on Tuesday, August 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 198% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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In other news, SVP Timothy C. Ohern sold 9,218 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $75.08, for a total value of $692,087.44. Following the completion of the sale, the senior vice president now directly owns 35,650 shares of the company’s stock, valued at approximately $2,676,602. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 27.70% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Flinton Capital Management LLC lifted its stake in shares of Papa John’s International by 76.9% in the 2nd 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 during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Papa John’s International by 55.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,188 shares of the company’s stock valued at $175,000 after purchasing an additional 776 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Papa John’s International in the 2nd quarter valued at approximately $201,000. Riverhead Capital Management LLC lifted its stake in shares of Papa John’s International by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the company’s stock valued at $215,000 after purchasing an additional 1,396 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its stake in shares of Papa John’s International by 11.5% in the 2nd quarter. LS Investment Advisors LLC now owns 3,047 shares of the company’s stock valued at $219,000 after purchasing an additional 315 shares during the last quarter. 84.20% of the stock is owned by institutional investors and hedge funds.

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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