The Domino’s Pizza Inc. (DPZ) Rating Increased to Buy at Bank of America Corp.

The Domino’s Pizza Inc. (DPZ) Rating Increased to Buy at Bank of America Corp.

Domino’s Pizza Inc. (NYSE:DPZ) was upgraded by analysts at Bank of America Corp. from an “underperform” rating to a “buy” rating in a report released on Friday, The Fly reports. The brokerage presently has a $175.00 price target on the stock, up from their prior price target of $120.00. Bank of America Corp.’s price target points to a potential upside of 16.43% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Numis Securities Ltd reaffirmed a “buy” rating on shares of Domino’s Pizza in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $139.00 target price on shares of Domino’s Pizza in a report on Tuesday, July 19th. Zacks Investment Research upgraded Domino’s Pizza from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Tuesday, July 26th. TheStreet upgraded Domino’s Pizza from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Finally, Beaufort Securities reiterated a “buy” rating on shares of Domino’s Pizza in a report on Sunday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $144.42.

Shares of Domino’s Pizza (NYSE:DPZ) opened at 150.31 on Friday. Domino’s Pizza has a one year low of $100.59 and a one year high of $155.10. The company’s 50-day moving average price is $151.07 and its 200-day moving average price is $137.36. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 40.46 and a beta of 0.81.

Domino’s Pizza (NYSE:DPZ) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business earned $547.34 million during the quarter, compared to analyst estimates of $533.44 million. Domino’s Pizza had a negative return on equity of 11.59% and a net margin of 8.45%. Domino’s Pizza’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. On average, equities research analysts predict that Domino’s Pizza will post $4.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.38 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.52 dividend on an annualized basis and a yield of 1.01%. Domino’s Pizza’s dividend payout ratio is currently 40.86%.

In related news, insider Richard E. Allison, Jr. sold 20,000 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $146.92, for a total value of $2,938,400.00. Following the transaction, the insider now directly owns 42,080 shares of the company’s stock, valued at approximately $6,182,393.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James A. Goldman sold 3,095 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $147.66, for a total value of $457,007.70. Following the completion of the transaction, the director now directly owns 15,167 shares in the company, valued at $2,239,559.22. The disclosure for this sale can be found here. 5.03% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Domino’s Pizza by 2.2% in the second quarter. Capital World Investors now owns 5,493,504 shares of the company’s stock worth $721,737,000 after buying an additional 119,188 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Domino’s Pizza by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,611,585 shares of the company’s stock worth $474,489,000 after buying an additional 74,268 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Domino’s Pizza by 5.3% in the second quarter. BlackRock Fund Advisors now owns 1,785,461 shares of the company’s stock worth $234,574,000 after buying an additional 89,797 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Domino’s Pizza by 5.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,593,162 shares of the company’s stock worth $209,310,000 after buying an additional 77,122 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Domino’s Pizza by 17.6% in the second quarter. State Street Corp now owns 1,583,984 shares of the company’s stock worth $208,104,000 after buying an additional 237,447 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors.

About Domino’s Pizza

Domino’s Pizza, Inc is a pizza restaurant chain. The Company operates pizza stores at 12,500 locations in over 80 markets. It operates through three segments: domestic stores, international franchise and supply chain. Its Domestic Stores segment consists primarily of its franchise operations, through which it operates network of over 4,820 franchised stores located in the United States.

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