Domino's Pizza (NYSE:DPZ) announced that its board has authorized a share buyback program, which permits the company to buyback $750.00 million in outstanding shares on Tuesday, February 20th, EventVestor reports. This buyback authorization permits the restaurant operator to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of research firms recently weighed in on DPZ. Bank of America upped their target price on shares of Domino's Pizza from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday. Credit Suisse Group reaffirmed an “outperform” rating and set a $245.00 target price (up previously from $235.00) on shares of Domino's Pizza in a report on Wednesday. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $230.00 target price (up previously from $200.00) on shares of Domino's Pizza in a report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $245.00 target price (up previously from $220.00) on shares of Domino's Pizza in a report on Tuesday. They noted that the move was a valuation call. Finally, Deutsche Bank upped their target price on shares of Domino's Pizza from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Domino's Pizza currently has a consensus rating of “Buy” and a consensus target price of $226.49.
Shares of Domino's Pizza (DPZ) traded up $4.21 during trading hours on Wednesday, hitting $225.70. 729,990 shares of the stock were exchanged, compared to its average volume of 1,140,118. The company has a market cap of $9,653.87, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 1.82 and a beta of 0.45. Domino's Pizza has a 1 year low of $166.74 and a 1 year high of $228.75. The company has a quick ratio of 1.39, a current ratio of 1.49 and a debt-to-equity ratio of -1.13.
In other news, CFO Jeffrey D. Lawrence sold 17,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $184.87, for a total value of $3,142,790.00. Following the transaction, the chief financial officer now owns 26,841 shares of the company’s stock, valued at approximately $4,962,095.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.57% of the stock is owned by corporate insiders.
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Domino's Pizza Company Profile
Domino’s Pizza, Inc is a pizza restaurant chain company. As of January 1, 2017, the Company operated in over 13,800 locations in over 85 markets around the world. The Company operates through three segments: domestic stores, international franchise and supply chain. Its basic menu features pizza products in various sizes and crust types.
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