Papa John’s International (NASDAQ:PZZA) Reaches New 1-Year Low – Here’s Why

Papa John’s International, Inc. (NASDAQ:PZZA)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $22.65 and last traded at $22.71, with a volume of 1094713 shares changing hands. The stock had previously closed at $23.48.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler dropped their price target on shares of Papa John’s International from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Bank of America reiterated an “underperform” rating and issued a $34.00 price objective (down from $42.00) on shares of Papa John’s International in a report on Monday, July 13th. Benchmark lowered shares of Papa John’s International from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Stephens reissued an “equal weight” rating and set a $24.00 target price (down from $38.00) on shares of Papa John’s International in a report on Friday, August 7th. Finally, Mizuho cut their target price on Papa John’s International from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $32.00.

Papa John’s International Trading Down 3.3%

The company’s 50-day moving average price is $29.83 and its two-hundred day moving average price is $32.46. The company has a market cap of $747.66 million, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 2.47 and a beta of 1.13.

Papa John’s International (NASDAQ:PZZA) last released its earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Papa John’s International had a net margin of 1.34% and a negative return on equity of 10.98%. The business had revenue of $482.40 million for the quarter, compared to the consensus estimate of $481.25 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities analysts forecast that Papa John’s International, Inc. will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Papa John’s International during the 2nd quarter valued at $182,315,000. Bank of America Corp DE bought a new stake in shares of Papa John’s International during the 2nd quarter worth $83,186,000. Earnest Partners LLC grew its holdings 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 during the last quarter. California State Teachers Retirement System grew its holdings in shares of Papa John’s International by 3,496.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,694,913 shares of the company’s stock worth $62,322,000 after acquiring an additional 1,647,792 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Papa John’s International by 2.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,108,612 shares of the company’s stock worth $53,380,000 after purchasing an additional 21,742 shares during the period.

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.