Trading Report: The Brokerages gives Consensus Recommendation of “Buy” to Papa John’s International Inc. (NASDAQ:PZZA)

The Brokerages gives Consensus Recommendation of “Buy” to Papa John’s International Inc. (NASDAQ:PZZA)

Papa John’s International Inc. (NASDAQ:PZZA) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the firm. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $74.50.

PZZA has been the topic of a number of research analyst reports. Nomura lowered shares of Papa John’s International from a “buy” rating to a “neutral” rating and lifted their price target for the company from $66.47 to $70.00 in a report on Wednesday, June 22nd. KeyCorp upgraded shares of Papa John’s International from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a report on Wednesday, July 20th. BTIG Research set a $78.00 price target on shares of Papa John’s International and gave the company a “buy” rating in a report on Wednesday, August 3rd. Jefferies Group reiterated a “hold” rating on shares of Papa John’s International in a report on Thursday, August 4th. Finally, TheStreet upgraded shares of Papa John’s International from a “hold” rating to a “buy” rating in a report on Wednesday, August 31st.

In other news, insider Steve M. Ritchie sold 12,836 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $74.73, for a total value of $959,234.28. Following the transaction, the insider now owns 35,773 shares of the company’s stock, valued at approximately $2,673,316.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John H. Schnatter sold 86,363 shares of Papa John’s International stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $76.92, for a total transaction of $6,643,041.96. Following the sale, the chief executive officer now directly owns 9,712,005 shares in the company, valued at approximately $747,047,424.60. The disclosure for this sale can be found here. 28.80% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in PZZA. BlackRock Fund Advisors increased its stake in Papa John’s International by 1.1% in the second quarter. BlackRock Fund Advisors now owns 1,730,350 shares of the company’s stock valued at $117,664,000 after buying an additional 19,309 shares during the period. Wellington Management Group LLP increased its stake in Papa John’s International by 370.5% in the first quarter. Wellington Management Group LLP now owns 1,270,817 shares of the company’s stock valued at $68,866,000 after buying an additional 1,000,709 shares during the period. Renaissance Technologies LLC increased its stake in Papa John’s International by 13.6% in the first quarter. Renaissance Technologies LLC now owns 1,219,568 shares of the company’s stock valued at $66,088,000 after buying an additional 146,168 shares during the period. JPMorgan Chase & Co. increased its stake in Papa John’s International by 21.5% in the second quarter. JPMorgan Chase & Co. now owns 1,010,633 shares of the company’s stock valued at $68,723,000 after buying an additional 178,700 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Papa John’s International by 10.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 791,582 shares of the company’s stock valued at $42,896,000 after buying an additional 74,962 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Papa John’s International (NASDAQ:PZZA) traded up 0.68% during trading on Friday, hitting $75.92. 225,083 shares of the company were exchanged. Papa John’s International has a 12 month low of $44.47 and a 12 month high of $82.55. The stock has a market cap of $2.81 billion, a P/E ratio of 32.21 and a beta of 0.23. The company’s 50-day moving average price is $77.06 and its 200 day moving average price is $67.34.

Papa John’s International (NASDAQ:PZZA) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. The company had revenue of $423 million for the quarter, compared to analyst estimates of $414.45 million. Papa John’s International had a net margin of 5.52% and a return on equity of 454.11%. Papa John’s International’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. On average, equities analysts predict that Papa John’s International will post $2.45 earnings per share for the current fiscal year.

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