Papa John’s International, Inc. (NASDAQ:PZZA) Given Average Rating of “Reduce” by Analysts

Papa John’s International, Inc. (NASDAQ:PZZA) has received a consensus rating of “Reduce” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.00.

Several brokerages have recently weighed in on PZZA. Piper Sandler lowered their price target on shares of Papa John’s International from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Papa John’s International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Bank of America restated an “underperform” rating and set a $34.00 target price (down from $42.00) on shares of Papa John’s International in a report on Monday, July 13th. Zacks Research cut Papa John’s International from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Benchmark lowered Papa John’s International from a “buy” rating to a “hold” rating in a research report on Friday, August 7th.

Hedge Funds Weigh In On Papa John’s International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Papa John’s International in the 2nd quarter valued at about $182,315,000. Earnest Partners LLC raised its stake in shares of Papa John’s International by 19.6% during the 4th quarter. Earnest Partners LLC now owns 1,947,248 shares of the company’s stock worth $74,950,000 after acquiring an additional 318,816 shares in the last quarter. Bank of America Corp DE lifted its position in Papa John’s International by 10.5% during the second quarter. Bank of America Corp DE now owns 1,700,062 shares of the company’s stock valued at $83,201,000 after acquiring an additional 161,906 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in Papa John’s International by 2.7% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,657,994 shares of the company’s stock valued at $63,816,000 after acquiring an additional 42,810 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Papa John’s International by 2.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,108,612 shares of the company’s stock valued at $53,380,000 after acquiring an additional 21,742 shares in the last quarter.

Papa John’s International Stock Down 0.7%

Shares of NASDAQ PZZA opened at $24.26 on Tuesday. The business has a fifty day simple moving average of $32.04 and a two-hundred day simple moving average of $33.35. The firm has a market cap of $798.64 million, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.47 and a beta of 1.13. Papa John’s International has a twelve month low of $23.27 and a twelve month high of $55.74.

Papa John’s International (NASDAQ:PZZA) last issued its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. Papa John’s International had a negative return on equity of 10.98% and a net margin of 1.34%.The business had revenue of $482.40 million during the quarter, compared to analysts’ expectations of $481.25 million. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, research analysts expect that Papa John’s International will post 1.25 earnings per share for the current year.

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.