Domino’s Pizza Inc (NYSE:DPZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $221.00 price objective on the restaurant operator’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.85% from the company’s previous close.
According to Zacks, “Domino's shares have outpaced the industry year to date. The company’s solid brand positioning should continue to boost sales in the upcoming quarters. Also, efforts to accelerate its presence in high-growth international markets bode well. Notably, the company’s revenues and earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters. In fact, second-quarter 2017 marked the 25th and 94th consecutive quarter of positive same-store-sales domestically and internationally, respectively. Going forward, Domino's initiatives on the digital front, focus on re-imaging and other sales boosting strategies are expected to help sustain the momentum. However, a soft consumer spending environment in the U.S. restaurants space might limit revenue growth. Higher costs and negative currency translation are likely to hurt profits too.”
DPZ has been the topic of a number of other reports. Maxim Group restated a “hold” rating and issued a $200.00 price objective on shares of Domino’s Pizza in a research note on Tuesday. BTIG Research restated a “buy” rating and issued a $233.00 price objective (up from $213.00) on shares of Domino’s Pizza in a research note on Thursday, June 1st. BidaskClub lowered shares of Domino’s Pizza from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Sanford C. Bernstein restated a “market perform” rating and issued a $215.00 price objective on shares of Domino’s Pizza in a research note on Tuesday, July 25th. Finally, Argus lowered shares of Domino’s Pizza from a “buy” rating to a “hold” rating and lifted their price objective for the company from $145.00 to $183.30 in a research note on Friday, August 25th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $197.14.
Domino’s Pizza (NYSE DPZ) traded up 0.43% during midday trading on Thursday, reaching $198.42. 274,758 shares of the company’s stock traded hands. Domino’s Pizza has a 1-year low of $149.67 and a 1-year high of $221.58. The company has a market capitalization of $9.57 billion, a PE ratio of 39.43 and a beta of 0.36. The firm’s 50 day moving average price is $188.46 and its 200-day moving average price is $194.48.
Domino’s Pizza (NYSE:DPZ) last announced its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.09. Domino’s Pizza had a net margin of 9.40% and a negative return on equity of 13.28%. The firm had revenue of $628.61 million for the quarter, compared to analyst estimates of $609.87 million. During the same period last year, the business earned $0.98 EPS. Domino’s Pizza’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts expect that Domino’s Pizza will post $5.69 EPS for the current year.
Domino’s Pizza announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the restaurant operator to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Large investors have recently modified their holdings of the company. Commonwealth Bank of Australia boosted its holdings in shares of Domino’s Pizza by 25.0% in the second quarter. Commonwealth Bank of Australia now owns 500 shares of the restaurant operator’s stock valued at $105,000 after acquiring an additional 100 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Domino’s Pizza by 19.5% during the first quarter. IHT Wealth Management LLC now owns 569 shares of the restaurant operator’s stock worth $105,000 after buying an additional 93 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Domino’s Pizza by 12.2% during the second quarter. Toronto Dominion Bank now owns 590 shares of the restaurant operator’s stock worth $125,000 after buying an additional 64 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Domino’s Pizza during the second quarter worth about $127,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Domino’s Pizza by 115.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 687 shares of the restaurant operator’s stock worth $145,000 after buying an additional 368 shares in the last quarter. 94.22% of the stock is currently owned by institutional investors and hedge funds.
Domino’s Pizza Company Profile
Domino’s Pizza, Inc is a pizza restaurant chain company. As of January 1, 2017, the Company operated in over 13,800 locations in over 85 markets around the world. The Company operates through three segments: domestic stores, international franchise and supply chain. Its basic menu features pizza products in various sizes and crust types.
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