Papa John’s International (NASDAQ:PZZA) Shares Gap Down – Time to Sell?

Shares of Papa John’s International, Inc. (NASDAQ:PZZA) gapped down before the market opened on Wednesday . The stock had previously closed at $36.77, but opened at $34.58. Papa John’s International shares last traded at $34.7450, with a volume of 470,481 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wall Street Zen upgraded Papa John’s International from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Mizuho reduced their target price on shares of 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. Stephens restated an “overweight” rating and issued a $40.00 price target on shares of Papa John’s International in a research report on Wednesday. Piper Sandler reduced their price objective on shares of Papa John’s International from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings lowered Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Papa John’s International currently has an average rating of “Hold” and an average target price of $38.50.

Papa John’s International Stock Performance

The stock’s 50 day moving average price is $34.29 and its 200 day moving average price is $35.22. The company has a market capitalization of $1.17 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

Papa John’s International (NASDAQ:PZZA) last released its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $478.61 million during the quarter, compared to analyst estimates of $485.51 million. Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. Papa John’s International’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. On average, analysts expect that Papa John’s International, Inc. will post 1.51 earnings per share for the current fiscal year.

Papa John’s International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.84 annualized dividend and a dividend yield of 5.2%. Papa John’s International’s dividend payout ratio (DPR) is 221.69%.

Institutional Investors Weigh In On Papa John’s International

A number of large investors have recently bought and sold shares of PZZA. Lazard Asset Management LLC acquired a new stake in shares of Papa John’s International in the 2nd quarter valued at about $59,000. Leonteq Securities AG acquired a new position in Papa John’s International during the 4th quarter worth approximately $71,000. Kestra Advisory Services LLC bought a new position in Papa John’s International in the fourth quarter worth approximately $73,000. Skylands Capital LLC acquired a new stake in Papa John’s International in the first quarter valued at approximately $65,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Papa John’s International by 42.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,230 shares of the company’s stock worth $72,000 after purchasing an additional 670 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.