Bank of America Issues Positive Forecast for Domino's Pizza (NASDAQ:DPZ) Stock Price

Key Points

• Bank of America has increased its price target for Domino's Pizza (NASDAQ:DPZ) from $514.00 to $536.00, indicating a potential upside of 26.35% from the current stock price while maintaining a "buy" rating.
• Domino's Pizza reported earnings of $4.08 per share for the last quarter, exceeding analyst expectations, with revenue up 6.2% year-over-year.
• Currently, Domino's Pizza has a consensus rating of "Moderate Buy" and an average price target of $492.00 among analysts, reflecting a generally favorable outlook despite some mixed ratings.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) had its price objective increased by stock analysts at Bank of America from $514.00 to $536.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the restaurant operator's stock. Bank of America's price target points to a potential upside of 26.35% from the company's current price.

Several other analysts have also issued reports on DPZ. BTIG Research reiterated a "buy" rating and set a $530.00 target price on shares of Domino's Pizza in a report on Wednesday. TD Cowen reissued a "buy" rating and issued a $510.00 target price on shares of Domino's Pizza in a research note on Tuesday. Jefferies Financial Group lowered their price target on Domino's Pizza from $490.00 to $455.00 and set a "hold" rating on the stock in a research report on Monday. Melius initiated coverage on Domino's Pizza in a research note on Monday, July 14th. They issued a "hold" rating and a $500.00 price target on the stock. Finally, Loop Capital upped their price target on shares of Domino's Pizza from $564.00 to $574.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Domino's Pizza presently has a consensus rating of "Moderate Buy" and an average price target of $492.00.

Domino's Pizza Stock Up 3.9%

Shares of DPZ stock opened at $424.23 on Wednesday. Domino's Pizza has a 12-month low of $397.12 and a 12-month high of $500.55. The firm has a fifty day moving average of $440.76 and a 200-day moving average of $458.37. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 24.64, a P/E/G ratio of 2.24 and a beta of 1.12.

Domino's Pizza (NASDAQ:DPZ - Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The restaurant operator reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.12. Domino's Pizza had a negative return on equity of 15.09% and a net margin of 12.49%.During the same period in the prior year, the business posted $4.19 EPS. Domino's Pizza's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts expect that Domino's Pizza will post 16.74 EPS for the current year.

Insider Transactions at Domino's Pizza

In other Domino's Pizza news, Director James A. Goldman sold 1,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $451.49, for a total value of $451,490.00. Following the completion of the transaction, the director directly owned 3,384 shares in the company, valued at approximately $1,527,842.16. This trade represents a 22.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Domino's Pizza

Several institutional investors and hedge funds have recently added to or reduced their stakes in DPZ. GAMMA Investing LLC lifted its holdings in shares of Domino's Pizza by 17.2% during the first quarter. GAMMA Investing LLC now owns 566 shares of the restaurant operator's stock worth $260,000 after purchasing an additional 83 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Domino's Pizza by 207.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 30,208 shares of the restaurant operator's stock worth $13,880,000 after buying an additional 20,379 shares during the period. Ritholtz Wealth Management grew its position in shares of Domino's Pizza by 2.9% in the 1st quarter. Ritholtz Wealth Management now owns 2,299 shares of the restaurant operator's stock valued at $1,056,000 after buying an additional 64 shares during the last quarter. Trust Point Inc. acquired a new stake in shares of Domino's Pizza in the first quarter valued at about $250,000. Finally, Sowell Financial Services LLC bought a new position in shares of Domino's Pizza during the first quarter worth about $282,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

About Domino's Pizza

Domino's Pizza, Inc, through its subsidiaries, operates as a pizza company in the United States and internationally. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino's brand name through company-owned and franchised stores.

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