Papa John’s International (NASDAQ:PZZA) Trading 8.1% Higher – Time to Buy?

Papa John’s International, Inc. (NASDAQ:PZZA) shares traded up 8.1% during mid-day trading on Wednesday . The stock traded as high as $35.73 and last traded at $35.3370. 1,186,013 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 1,211,120 shares. The stock had previously closed at $32.69.

Analysts Set New Price Targets

PZZA has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Papa John’s International from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. UBS Group lowered their price objective on Papa John’s International from $42.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Wall Street Zen raised Papa John’s International from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Benchmark lowered their price objective on Papa John’s International from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Papa John’s International in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.50.

Papa John’s International Stock Up 9.0%

The company has a market cap of $1.17 billion, a PE ratio of 42.65, a P/E/G ratio of 1.84 and a beta of 1.15. The firm’s fifty day simple moving average is $34.23 and its 200-day simple moving average is $35.62.

Papa John’s International (NASDAQ:PZZA) last announced its quarterly 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). Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. The business had revenue of $478.61 million during the quarter, compared to analysts’ expectations of $485.51 million. During the same period last year, the company earned $0.36 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts predict that Papa John’s International, Inc. will post 1.51 earnings per share for the current year.

Papa John’s International Dividend Announcement

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

Hedge Funds Weigh In On Papa John’s International

A number of institutional investors have recently made changes to their positions in PZZA. Lazard Asset Management LLC acquired a new position in shares of Papa John’s International in the second quarter worth $59,000. Skylands Capital LLC purchased a new stake in shares of Papa John’s International during the first quarter worth about $65,000. Leonteq Securities AG purchased a new stake in shares of Papa John’s International during the fourth quarter worth about $71,000. PNC Financial Services Group Inc. grew its holdings 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 buying an additional 670 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Papa John’s International during the fourth quarter worth about $73,000.

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.