Papa John’s International Target of Unusually High Options Trading (NASDAQ:PZZA)

Papa John’s International, Inc. (NASDAQ:PZZA) was the target of some unusual options trading activity on Thursday. Stock traders purchased 21,598 put options on the stock. This is an increase of approximately 430% compared to the typical volume of 4,076 put options.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stephens reissued an “overweight” rating on shares of Papa John’s International in a research report on Tuesday, July 21st. Wall Street Zen raised Papa John’s International from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Piper Sandler cut their price target on shares of Papa John’s International from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Weiss Ratings cut Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Mizuho lowered their price objective on shares of Papa John’s International from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Papa John’s International currently has a consensus rating of “Reduce” and a consensus price target of $36.38.

Papa John’s International Stock Down 14.2%

Shares of PZZA stock traded down $4.24 during trading hours on Thursday, hitting $25.51. 3,254,248 shares of the company’s stock traded hands, compared to its average volume of 1,180,167. The stock’s 50 day simple moving average is $33.25 and its 200 day simple moving average is $33.96. Papa John’s International has a 12 month low of $24.43 and a 12 month high of $55.74. The stock has a market cap of $839.34 million, a PE ratio of 30.80, a price-to-earnings-growth ratio of 2.01 and a beta of 1.13.

Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $482.40 million during the quarter, compared to analysts’ expectations of $481.25 million. Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. As a group, equities research analysts expect that Papa John’s International will post 1.47 EPS for the current fiscal year.

Institutional Trading of Papa John’s International

Several institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new stake in shares of Papa John’s International in the 2nd quarter worth about $59,000. Skylands Capital LLC bought a new position in shares of Papa John’s International during the first quarter valued at approximately $65,000. Leonteq Securities AG bought a new position in Papa John’s International in the fourth quarter worth approximately $71,000. PNC Financial Services Group Inc. boosted its holdings in shares of Papa John’s International by 42.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,230 shares of the company’s stock valued at $72,000 after buying an additional 670 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Papa John’s International in the 4th quarter worth approximately $73,000.

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.