Papa John’s International’s (PZZA) Neutral Rating Reaffirmed at Bank of America

Bank of America restated their neutral rating on shares of Papa John’s International (NASDAQ:PZZA) in a research report report published on Monday morning, Marketbeat reports. They currently have a $50.00 target price on the stock, down from their prior target price of $62.00.

Several other equities analysts have also issued reports on the company. Benchmark reiterated a “buy” rating and issued a $60.00 target price (up previously from $50.00) on shares of Papa John’s International in a research note on Monday, August 11th. Weiss Ratings restated a “hold (c)” rating on shares of Papa John’s International in a report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Papa John’s International from $40.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Stifel Nicolaus increased their target price on shares of Papa John’s International from $38.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, August 15th. Finally, Stephens restated an “overweight” rating and issued a $52.00 target price (up from $50.00) on shares of Papa John’s International in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.00.

Papa John’s International Stock Performance

NASDAQ:PZZA opened at $46.57 on Monday. The firm has a market cap of $1.53 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.61 and a beta of 1.10. Papa John’s International has a one year low of $30.16 and a one year high of $60.75. The firm has a 50-day simple moving average of $46.50 and a 200-day simple moving average of $43.46.

Papa John’s International (NASDAQ:PZZA) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $529.17 million for the quarter, compared to analysts’ expectations of $515.48 million. Papa John’s International had a negative return on equity of 14.42% and a net margin of 3.58%.The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. On average, research analysts predict that Papa John’s International will post 2.19 EPS for the current fiscal year.

Papa John’s International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 18th. Papa John’s International’s dividend payout ratio is 81.42%.

Institutional Investors Weigh In On Papa John’s International

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Papa John’s International by 4.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 399,784 shares of the company’s stock valued at $16,423,000 after buying an additional 15,892 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Papa John’s International by 117.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 49,084 shares of the company’s stock valued at $2,040,000 after acquiring an additional 26,505 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Papa John’s International during the first quarter valued at approximately $230,000. Templeton & Phillips Capital Management LLC lifted its holdings in Papa John’s International by 119.6% in the first quarter. Templeton & Phillips Capital Management LLC now owns 92,276 shares of the company’s stock valued at $3,791,000 after acquiring an additional 50,260 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Papa John’s International by 12.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 166,128 shares of the company’s stock worth $6,825,000 after purchasing an additional 18,099 shares in the last quarter.

About Papa John’s International

Papa John’s International, Inc engages in the operation and franchise of pizza delivery and carryout restaurants. It operates through the following segments: Domestic Company-owned Restaurants, North America Franchising, North America Commissaries, International Operations, and All Others. The Domestic Company-Owned Restaurants segment consists of retail sales of pizza and side items, breadsticks, cheese sticks, chicken poppers and wings, dessert items, and canned and bottled beverages.