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

Key Points

• Benchmark cut its price target on Papa John’s International from $50 to $45, while keeping a Buy rating and still implying notable upside from the prior close.
• Analyst sentiment remains cautious overall: several firms recently lowered targets, and MarketBeat’s data show an average rating of Hold with an average price target of $42.78.
• Recent earnings disappointed, with Q1 EPS of $0.32 versus the $0.40 estimate and revenue of $478.6 million missing expectations, as sales fell 7.7% year over year.

Papa John's International (NASDAQ:PZZA - Get Free Report) had its price objective decreased by stock analysts at Benchmark from $50.00 to $45.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price objective points to a potential upside of 44.45% from the company's previous close.

Several other equities research analysts have also recently commented on the stock. Piper Sandler dropped their target price on shares of Papa John's International from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday. Mizuho dropped their target price on shares of Papa John's International from $40.00 to $34.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. Stephens reaffirmed an "overweight" rating and issued a $40.00 target price on shares of Papa John's International in a research report on Friday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Papa John's International in a research report on Friday, March 27th. Finally, Zacks Research raised shares of Papa John's International from a "strong sell" rating to a "hold" rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $42.78.

Papa John's International Stock Down 5.2%

Shares of Papa John's International stock traded down $1.70 during trading on Friday, reaching $31.15. The company's stock had a trading volume of 1,125,052 shares, compared to its average volume of 1,198,869. Papa John's International has a 52-week low of $29.55 and a 52-week high of $55.74. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.91 and a beta of 1.18. The firm's 50-day moving average is $34.58 and its two-hundred day moving average is $38.12.

Papa John's International (NASDAQ:PZZA - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). Papa John's International had a net margin of 1.44% and a negative return on equity of 11.16%. 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 posted $0.36 EPS. Papa John's International's revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities research analysts anticipate that Papa John's International will post 1.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PZZA. Irenic Capital Management LP bought a new position in shares of Papa John's International in the 3rd quarter worth about $51,699,000. Marshall Wace LLP bought a new position in shares of Papa John's International in the 4th quarter worth about $12,969,000. Quinn Opportunity Partners LLC bought a new position in shares of Papa John's International in the 4th quarter worth about $12,767,000. Earnest Partners LLC increased its stake in shares of Papa John's International by 19.6% in the 4th quarter. Earnest Partners LLC now owns 1,947,248 shares of the company's stock worth $74,950,000 after acquiring an additional 318,816 shares in the last quarter. Finally, Gumshoe Capital Management LLC bought a new position in shares of Papa John's International in the 4th quarter worth about $10,034,000.

Papa John's International News Roundup

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.