Papa John’s International (NASDAQ:PZZA) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Papa John’s International (NASDAQ:PZZA) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Papa John’s International in a research note on Wednesday, July 1st. Mizuho lowered their target price on Papa John’s International from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Benchmark dropped their target price on Papa John’s International from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Piper Sandler cut their price target on shares of Papa John’s International from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of Papa John’s International from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $36.50.

Papa John’s International Stock Performance

Shares of PZZA stock opened at $33.20 on Monday. The firm’s 50 day moving average price is $33.83 and its 200-day moving average price is $34.78. Papa John’s International has a one year low of $29.55 and a one year high of $55.74. The firm has a market cap of $1.09 billion, a P/E ratio of 40.00, a P/E/G ratio of 1.89 and a beta of 1.12.

Papa John’s International (NASDAQ:PZZA) last posted its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $478.61 million during the quarter, compared to analyst estimates of $485.51 million. Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. As a group, research analysts predict that Papa John’s International will post 1.48 EPS for the current fiscal year.

Papa John’s International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.46 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.84 dividend on an annualized basis and a yield of 5.5%. Papa John’s International’s dividend payout ratio (DPR) is 221.69%.

Institutional Investors Weigh In On Papa John’s International

A number of hedge funds have recently bought and sold shares of PZZA. Lazard Asset Management LLC purchased a new stake in shares of Papa John’s International during the second quarter worth approximately $59,000. Leonteq Securities AG acquired a new position in Papa John’s International during the 4th quarter worth approximately $71,000. Kestra Advisory Services LLC acquired a new position in Papa John’s International during the 4th quarter worth approximately $73,000. Skylands Capital LLC purchased a new stake in shares of Papa John’s International in the 1st quarter valued at approximately $65,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Papa John’s International by 42.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,230 shares of the company’s stock valued at $72,000 after purchasing an additional 670 shares in the last quarter.

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.