DPC (NYSE:DPC) Stock Price Target Cut by Royal Bank Of Canada

DPC (NYSE:DPC) had its price objective decreased by Royal Bank Of Canada from $62.00 to $50.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 84.60% from the company’s previous close.

A number of other research analysts also recently weighed in on DPC. Weiss Ratings initiated coverage on shares of DPC in a research report on Monday, September 21st. They set a “sell (d)” rating for the company. Zacks Research upgraded DPC to a “hold” rating in a research note on Tuesday, July 21st. Rothschild & Co Redburn started coverage on DPC in a report on Monday, July 20th. They set a “buy” rating and a $53.50 price objective for the company. Barclays assumed coverage on DPC in a research report on Friday, October 9th. They issued an “overweight” rating and a $49.00 target price for the company. Finally, Wall Street Zen downgraded shares of DPC from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, DPC presently has an average rating of “Hold” and an average price target of $50.30.

DPC Price Performance

Shares of DPC stock traded down $1.16 on Wednesday, hitting $27.09. The stock had a trading volume of 190,996 shares, compared to its average volume of 1,319,413. The company’s 50 day moving average is $39.29. DPC has a 12-month low of $25.00 and a 12-month high of $57.25.

DPC (NYSE:DPC) last announced its earnings results on Tuesday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $268.70 million during the quarter. As a group, research analysts expect that DPC will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DPC

Several hedge funds have recently made changes to their positions in the stock. Mudrick Capital Management L.P. bought a new position in shares of DPC in the second quarter valued at approximately $314,115,000. HBK Investments L P purchased a new position in shares of DPC during the 2nd quarter valued at $72,750,000. Irenic Capital Management LP purchased a new position in shares of DPC during the 2nd quarter valued at $41,201,000. SurgoCap Partners LP bought a new position in shares of DPC in the second quarter worth $31,336,000. Finally, Wellington Management Group LLP purchased a new stake in shares of DPC in the second quarter worth $4,402,000.

About DPC

DPC Dash Ltd. (NYSE: DPC) is a quick-service restaurant company that develops and operates Domino’s Pizza stores in China. The company serves customers through a network of company-operated and franchised locations, offering pizzas, side dishes, desserts and beverages for delivery, carryout and dine-in service.

DPC Dash operates under an exclusive master franchise agreement with Domino’s Pizza for mainland China. Its business focuses on expanding the Domino’s brand in the Chinese market while adapting store operations, digital ordering and menu offerings to local consumer preferences.

The company traces its operations in China to 2010 and is headquartered in Shanghai.