Papa John’s International (NASDAQ:PZZA) Price Target Cut to $45.00 by Analysts at Benchmark

Papa John’s International (NASDAQ:PZZA) had its price objective decreased by Benchmark from $50.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 44.45% from the stock’s current price.

A number of other research firms have also weighed in on PZZA. Stephens restated an “overweight” rating and set a $40.00 price objective on shares of Papa John’s International in a research note on Friday. Mizuho reduced their price objective on shares of Papa John’s International from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Papa John’s International in a research note on Friday, March 27th. Zacks Research upgraded shares of Papa John’s International from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Piper Sandler reduced 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 research note on Friday. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Papa John’s International has a consensus rating of “Hold” and a consensus target price of $42.78.

Papa John’s International Trading Down 5.2%

NASDAQ:PZZA traded down $1.70 on Friday, reaching $31.15. 1,125,052 shares of the stock traded hands, compared to its average volume of 1,198,869. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.91 and a beta of 1.18. Papa John’s International has a 12 month low of $29.55 and a 12 month high of $55.74. The company’s fifty day simple moving average is $34.58 and its 200 day simple moving average is $38.12.

Papa John’s International (NASDAQ:PZZA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The firm had revenue of $478.61 million for the quarter, compared to the consensus estimate of $485.51 million. Papa John’s International had a net margin of 1.44% and a negative return on equity of 11.16%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities analysts anticipate that Papa John’s International will post 1.53 EPS for the current fiscal year.

Institutional Trading of Papa John’s International

A number of large investors have recently made changes to their positions in PZZA. Royal Bank of Canada grew its stake in shares of Papa John’s International by 32.8% in the first quarter. Royal Bank of Canada now owns 19,028 shares of the company’s stock worth $781,000 after acquiring an additional 4,705 shares during the period. AQR Capital Management LLC purchased a new position in shares of Papa John’s International in the first quarter worth approximately $600,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Papa John’s International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,785 shares of the company’s stock valued at $813,000 after buying an additional 879 shares during the period. Goldman Sachs Group Inc. grew its position in Papa John’s International by 25.0% during the first quarter. Goldman Sachs Group Inc. now owns 310,653 shares of the company’s stock valued at $12,762,000 after buying an additional 62,103 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Papa John’s International by 81.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,592 shares of the company’s stock valued at $4,625,000 after buying an additional 50,536 shares during the period.

Papa John’s International News Summary

Here are the key news stories impacting Papa John’s International this week:

• Positive Sentiment: Stephens reaffirmed its Overweight rating and kept a $40 price target, implying meaningful upside from current levels.
• Positive Sentiment: Papa John’s launched a new promotional campaign, “Skies to Pies,” to attract attention and drive pizza orders by turning Spirit Airlines’ grounded loyalty program into free pizza. Article Title
• Neutral Sentiment: The company also declared a quarterly dividend of $0.46 per share, which supports shareholder returns but is not a major new growth catalyst.
• Negative Sentiment: Papa John’s reported Q1 EPS of $0.32, missing the $0.40 estimate, and revenue of $478.6 million, below expectations; sales were down 7.7% year over year.
• Negative Sentiment: Management and outside reporting pointed to weaker U.S. traffic as cost-conscious consumers bought smaller pizzas and skipped sides and desserts, highlighting demand softness.
• Negative Sentiment: Piper Sandler lowered its price target from $32 to $30 and maintained a Neutral rating, signaling limited near-term upside. Article Title

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.