Papa John's International (NASDAQ:PZZA) Shares Gap Up - Time to Buy?

Key Points

• Papa John's International shares gapped up from a previous close of $48.68 to open at $54.00, with the last traded price at $53.63 and a volume of 997,176 shares.
• Analysts have set new price targets for the stock, with Benchmark rating it a "buy" at $60.00 and several others issuing "hold" ratings with various target prices ranging from $42.00 to $50.00.
• The company reported a quarterly EPS of $0.41, beating estimates, along with a revenue of $529.17 million, which is up 4.2% compared to the same quarter last year.

Papa John's International, Inc. (NASDAQ:PZZA - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $48.68, but opened at $54.00. Papa John's International shares last traded at $53.63, with a volume of 997,176 shares changing hands.

Analysts Set New Price Targets

PZZA has been the topic of a number of research reports. Benchmark reissued a "buy" rating and set a $60.00 target price (up previously from $50.00) on shares of Papa John's International in a research report on Monday, August 11th. Stephens set a $50.00 price target on shares of Papa John's International in a report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Papa John's International in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Papa John's International from $40.00 to $46.00 and gave the company a "hold" rating in a report on Monday, August 11th. Finally, Stifel Nicolaus raised their price target on shares of Papa John's International from $38.00 to $42.00 and gave the company a "hold" rating in a report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $49.78.

Papa John's International Stock Performance

The business's 50 day moving average is $46.81 and its 200 day moving average is $43.58. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 3.87 and a beta of 1.10.

Papa John's International (NASDAQ:PZZA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Papa John's International had a net margin of 3.58% and a negative return on equity of 14.42%. The business had revenue of $529.17 million during the quarter, compared to analysts' expectations of $515.48 million. During the same period in the previous year, the business posted $0.61 EPS. The business's quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Papa John's International, Inc. will post 2.19 EPS for the current year.

Papa John's International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, August 18th. Papa John's International's payout ratio is presently 81.42%.

Hedge Funds Weigh In On Papa John's International

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Papa John's International by 4,646.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 712 shares of the company's stock valued at $29,000 after purchasing an additional 697 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Papa John's International by 937.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock worth $34,000 after acquiring an additional 769 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Papa John's International by 181.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 947 shares of the company's stock worth $46,000 after acquiring an additional 611 shares in the last quarter. Investors Research Corp purchased a new stake in Papa John's International in the 2nd quarter worth $49,000. Finally, Huntington National Bank increased its holdings in Papa John's International by 7,600.0% in the 2nd quarter. Huntington National Bank now owns 1,001 shares of the company's stock worth $49,000 after acquiring an additional 988 shares in the last quarter.

Papa John's International Company Profile

Papa John's International, Inc engages in the operation and franchise of pizza delivery and carryout restaurants. It operates through the following segments: Domestic Company-owned Restaurants, North America Franchising, North America Commissaries, International Operations, and All Others. The Domestic Company-Owned Restaurants segment consists of retail sales of pizza and side items, breadsticks, cheese sticks, chicken poppers and wings, dessert items, and canned and bottled beverages.

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