Papa John’s Int’l (NASDAQ:PZZA) was downgraded by MKM Partners from a “buy” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports. They presently have a $50.00 target price on the stock, down from their prior target price of $55.00. MKM Partners’ price target indicates a potential downside of 19.04% from the company’s previous close.
Several other research analysts have also recently commented on PZZA. BidaskClub cut shares of Papa John’s Int’l from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 2nd. Oppenheimer began coverage on shares of Papa John’s Int’l in a report on Tuesday, September 17th. They issued a “market perform” rating for the company. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of Papa John’s Int’l in a report on Tuesday, August 27th. Credit Suisse Group raised their target price on shares of Papa John’s Int’l to $66.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, CL King began coverage on shares of Papa John’s Int’l in a report on Wednesday, October 23rd. They issued a “buy” rating and a $65.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $61.56.
NASDAQ:PZZA traded down $0.82 during mid-day trading on Thursday, hitting $61.76. The stock had a trading volume of 1,218,300 shares, compared to its average volume of 994,724. The company has a 50 day simple moving average of $54.93 and a 200-day simple moving average of $49.50. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 46.09, a P/E/G ratio of 5.70 and a beta of 0.41. Papa John’s Int’l has a 52 week low of $38.29 and a 52 week high of $63.29.
In related news, major shareholder John H. Schnatter sold 1,900,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $56.60, for a total transaction of $107,540,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the insider now owns 5,409,583 shares of the company’s stock, valued at $231,530,152.40. The disclosure for this sale can be found here. Over 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 currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Private Capital Group LLC acquired a new stake in shares of Papa John’s Int’l during the second quarter worth approximately $34,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Papa John’s Int’l during the third quarter worth approximately $64,000. Oppenheimer Asset Management Inc. acquired a new stake in Papa John’s Int’l in the third quarter valued at approximately $67,000. Advisor Group Inc. lifted its stake in Papa John’s Int’l by 45.0% in the second quarter. Advisor Group Inc. now owns 1,530 shares of the company’s stock valued at $68,000 after acquiring an additional 475 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Papa John’s Int’l in the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
Papa John’s Int’l Company Profile
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.
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