Papa John’s International (NASDAQ:PZZA) Downgraded by Zacks Research to Strong Sell

Papa John’s International (NASDAQ:PZZA) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on PZZA. Mizuho cut their price target on Papa John’s International from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Bank of America reissued an “underperform” rating and issued a $34.00 price objective (down from $42.00) on shares of Papa John’s International in a research note on Monday. Wall Street Zen upgraded shares of Papa John’s International from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of Papa John’s International in a report on Wednesday, July 1st. Finally, Weiss Ratings downgraded Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $36.50.

Papa John’s International Price Performance

Papa John’s International stock opened at $33.20 on Monday. Papa John’s International has a 12 month low of $29.55 and a 12 month high of $55.74. The stock’s 50-day moving average is $33.83 and its 200-day moving average is $34.78. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12.

Papa John’s International (NASDAQ:PZZA) last announced its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. The company had revenue of $478.61 million for the quarter, compared to analysts’ expectations of $485.51 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Research analysts anticipate that Papa John’s International will post 1.48 EPS for the current year.

Institutional Investors Weigh In On Papa John’s International

Institutional investors and hedge funds have recently made changes to their positions in the company. Great Hill Capital LLC bought a new stake in Papa John’s International during the 4th quarter worth about $5,843,000. Willis Investment Counsel bought a new stake in shares of Papa John’s International in the 4th quarter valued at $1,336,000. Deprince Race & Zollo Inc. raised its position in shares of 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 worth $63,816,000 after purchasing an additional 42,810 shares during the period. SG Americas Securities LLC bought a new position in Papa John’s International in the fourth quarter valued at approximately $6,416,000. Finally, Heartland Advisors Inc. lifted its position in Papa John’s International by 25.2% in the 4th quarter. Heartland Advisors Inc. now owns 156,500 shares of the company’s stock valued at $6,024,000 after acquiring an additional 31,500 shares in the last quarter.

Papa John’s International Company Profile

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.