Papa John’s International (NASDAQ:PZZA) Stock Price Up 17.7% – Here’s Why

Papa John’s International, Inc. (NASDAQ:PZZA)’s stock price traded up 17.7% during mid-day trading on Wednesday . The stock traded as high as $34.13 and last traded at $38.3080. 500,243 shares traded hands during trading, a decline of 58% from the average session volume of 1,195,637 shares. The stock had previously closed at $32.54.

Analysts Set New Price Targets

PZZA has been the topic of a number of research reports. Stephens lowered their price objective on shares of Papa John’s International from $49.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Zacks Research raised shares of Papa John’s International from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Papa John’s International in a research note on Monday, December 29th. Benchmark cut their price objective on Papa John’s International from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Mizuho reduced their target price on Papa John’s International from $40.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Papa John’s International Trading Up 16.9%

The firm’s 50 day moving average is $34.93 and its two-hundred day moving average is $41.64. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 42.73, a P/E/G ratio of 1.49 and a beta of 1.23.

Papa John’s International (NASDAQ:PZZA) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $498.18 million for the quarter, compared to analysts’ expectations of $517.25 million. Papa John’s International had a net margin of 1.44% and a negative return on equity of 11.16%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, equities analysts expect that Papa John’s International, Inc. will post 2.19 EPS for the current fiscal year.

Papa John’s International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were given a dividend of $0.46 per share. The ex-dividend date was Monday, February 9th. This represents a $1.84 dividend on an annualized basis and a yield of 4.8%. Papa John’s International’s dividend payout ratio (DPR) is 206.74%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in shares of Papa John’s International by 22.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,157 shares of the company’s stock worth $56,000 after purchasing an additional 210 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Papa John’s International in the second quarter valued at $59,000. Leonteq Securities AG acquired a new position in Papa John’s International in the fourth quarter valued at $71,000. Kestra Advisory Services LLC acquired a new position in Papa John’s International in the fourth quarter valued at $73,000. Finally, GAMMA Investing LLC lifted its position in Papa John’s International by 41.0% during the third quarter. GAMMA Investing LLC now owns 1,702 shares of the company’s stock worth $82,000 after buying an additional 495 shares during the period.

About Papa John’s International

Papa John’s International, Inc is a leading American pizza restaurant chain known for its focus on high-quality ingredients and consistent product offerings. Founded in 1984 by John Schnatter in Jeffersonville, Indiana, the company has grown to operate thousands of restaurants across the United States and in more than 40 international markets. Papa John’s restaurants are primarily franchised, supported by a network of corporate-owned outlets that together drive brand standards, operational guidance and marketing efforts.

The core menu at Papa John’s centers on a variety of hand-tossed and pan pizzas made with a signature stone-baked crust and topped with real cheese, vine-ripened tomato sauce and premium meats and vegetables.