Zacks Investment Research downgraded shares of Popeyes Louisiana Kitchen Inc. (NASDAQ:PLKI) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Popeyes Louisiana Kitchen Inc. owns, operates and franchises a chain of quick-service restaurants. The company operates in two business segments: franchise operations and company-operated restaurants. It operates primarily in Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia and Mississippi. Popeyes Louisiana Kitchen Inc., formerly known as AFC Enterprises, Inc., is based in Atlanta, United States. “

A number of other research analysts have also commented on the stock. TheStreet lowered shares of Popeyes Louisiana Kitchen from a buy rating to a hold rating in a research note on Friday, November 11th. Jefferies Group restated a buy rating on shares of Popeyes Louisiana Kitchen in a research report on Thursday, August 4th. Vetr lowered shares of Popeyes Louisiana Kitchen from a strong-buy rating to a sell rating and set a $50.49 price target on the stock. in a research report on Wednesday, August 17th. Piper Jaffray Cos. restated an in-line rating and issued a $56.00 price target on shares of Popeyes Louisiana Kitchen in a research report on Wednesday, August 17th. Finally, Maxim Group lowered shares of Popeyes Louisiana Kitchen from a buy rating to a hold rating and set a $60.00 price target on the stock. in a research report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $59.94.

Shares of Popeyes Louisiana Kitchen (NASDAQ:PLKI) traded up 1.48% during midday trading on Tuesday, hitting $59.51. The stock had a trading volume of 76,572 shares. Popeyes Louisiana Kitchen has a 12-month low of $49.11 and a 12-month high of $63.00. The stock has a 50-day moving average price of $53.40 and a 200-day moving average price of $54.96. The stock has a market cap of $1.23 billion, a P/E ratio of 30.42 and a beta of -0.11.

Popeyes Louisiana Kitchen (NASDAQ:PLKI) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Popeyes Louisiana Kitchen had a net margin of 16.19% and a return on equity of 132.85%. The business had revenue of $64 million for the quarter, compared to analyst estimates of $64.92 million. During the same quarter last year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts forecast that Popeyes Louisiana Kitchen will post $2.11 earnings per share for the current year.

In related news, Director Carolyn H. Byrd sold 1,500 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $54.66, for a total value of $81,990.00. Following the sale, the director now owns 264 shares of the company’s stock, valued at $14,430.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Creative Planning raised its position in Popeyes Louisiana Kitchen by 91.7% in the second quarter. Creative Planning now owns 2,300 shares of the company’s stock worth $126,000 after buying an additional 1,100 shares during the period. US Bancorp DE raised its position in Popeyes Louisiana Kitchen by 116.5% in the second quarter. US Bancorp DE now owns 2,334 shares of the company’s stock worth $128,000 after buying an additional 1,256 shares during the period. BlackRock Inc. raised its position in Popeyes Louisiana Kitchen by 53.4% in the second quarter. BlackRock Inc. now owns 2,489 shares of the company’s stock worth $136,000 after buying an additional 866 shares during the period. Bruderman Asset Management LLC raised its position in Popeyes Louisiana Kitchen by 10.3% in the second quarter. Bruderman Asset Management LLC now owns 2,880 shares of the company’s stock worth $157,000 after buying an additional 270 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Popeyes Louisiana Kitchen by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,984 shares of the company’s stock worth $163,000 after buying an additional 361 shares during the period. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Popeyes Louisiana Kitchen Company Profile

Popeyes Louisiana Kitchen, Inc operates and franchises quick-service restaurants (QSRs or restaurants) under the trade names Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits. The Company operates through two segments: franchise operations and company-operated restaurants. The franchise segment consists of domestic and international franchising activities.

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