Bank of America Corp. Upgrades Domino’s Pizza Inc. (DPZ) to Buy
Domino’s Pizza Inc. (NYSE:DPZ) was upgraded by equities research analysts at Bank of America Corp. from an “underperform” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $175.00 price objective on the stock, up from their previous price objective of $150.31. Bank of America Corp.’s target price suggests a potential upside of 15.12% from the company’s current price.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Domino’s Pizza from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. N+1 Singer reissued a “hold” rating on shares of Domino’s Pizza in a research note on Wednesday, October 12th. Maxim Group boosted their price target on shares of Domino’s Pizza from $135.00 to $158.00 and gave the stock a “hold” rating in a research note on Tuesday, October 4th. Vetr downgraded shares of Domino’s Pizza from a “hold” rating to a “sell” rating and set a $133.50 price target for the company. in a research note on Thursday, July 21st. Finally, Beaufort Securities reissued a “buy” rating on shares of Domino’s Pizza in a research note on Thursday, October 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $144.73.
Shares of Domino’s Pizza (NYSE:DPZ) opened at 152.01 on Friday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 40.92 and a beta of 0.81. The firm’s 50 day moving average is $151.21 and its 200-day moving average is $137.76. Domino’s Pizza has a 52 week low of $100.59 and a 52 week high of $155.10.
Domino’s Pizza (NYSE:DPZ) last announced its earnings results on Thursday, July 21st. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. Domino’s Pizza had a net margin of 8.45% and a negative return on equity of 11.59%. The company earned $547.34 million during the quarter, compared to the consensus estimate of $533.44 million. During the same period in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Equities research analysts predict that Domino’s Pizza will post $4.14 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Tuesday, September 13th. Domino’s Pizza’s dividend payout ratio (DPR) is presently 40.86%.
In related news, insider Richard E. Allison, Jr. sold 20,000 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $146.92, for a total transaction of $2,938,400.00. Following the completion of the transaction, the insider now owns 42,080 shares in the company, valued at $6,182,393.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James A. Goldman sold 3,095 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $147.66, for a total transaction of $457,007.70. Following the transaction, the director now owns 15,167 shares of the company’s stock, valued at approximately $2,239,559.22. The disclosure for this sale can be found here. Corporate insiders own 5.03% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC boosted its position in shares of Domino’s Pizza by 19.1% in the first quarter. Aperio Group LLC now owns 10,960 shares of the company’s stock valued at $1,445,000 after buying an additional 1,760 shares during the last quarter. BlackRock Inc. boosted its position in shares of Domino’s Pizza by 55.4% in the first quarter. BlackRock Inc. now owns 67,434 shares of the company’s stock valued at $8,891,000 after buying an additional 24,035 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Domino’s Pizza by 56.5% in the first quarter. BlackRock Group LTD now owns 114,427 shares of the company’s stock valued at $15,089,000 after buying an additional 41,334 shares during the last quarter. BlackRock Japan Co. Ltd acquired a new position in shares of Domino’s Pizza during the first quarter valued at approximately $111,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Domino’s Pizza by 260.3% in the first quarter. JPMorgan Chase & Co. now owns 178,269 shares of the company’s stock valued at $23,507,000 after buying an additional 289,453 shares during the last quarter. Institutional investors and hedge funds own 95.55% of the company’s stock.
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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