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Papa John’s International (PZZA) Received its Third Buy in a Row

After BTIG and Stifel Nicolaus gave Papa John’s International (NASDAQ: PZZA) a Buy rating last month, the company received another Buy, this time from Wedbush. Analyst Nick Setyan maintained a Buy rating on Papa John’s International today and set a price target of $109.00. The company’s shares closed last Thursday at $93.89.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 6.3% and a 48.1% success rate. Setyan covers the Services sector, focusing on stocks such as The ONE Group Hospitality, Brinker International, and Dine Brands Global.

Currently, the analyst consensus on Papa John’s International is a Moderate Buy with an average price target of $113.67, representing a 18.5% upside. In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $120.00 price target.

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Papa John’s International’s market cap is currently $3.36B and has a P/E ratio of 38.33.

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Papa John’s International, Inc. operates and franchises pizza delivery and carryout restaurants. It operates through the following segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations. The Domestic Company-Owned Restaurants segment consists of the operations of all domestic company-owned restaurants and derives its revenues principally from retail sales of pizza and side items, including breadsticks, cheese sticks, chicken poppers and wings, dessert items, and canned or bottled beverages. The North America Commissaries segment consists of the operations of regional dough production and product distribution centers and derives its revenues principally from the sale and distribution of food and paper products to domestic company-owned and franchised restaurants in the United States and Canada. The North America Franchising segment consists of franchise sales and support activities and derives its revenues from sales of franchise and development rights and collection of royalties from franchisees located in the United States and Canada. The International Operations segment principally consists of distribution sales to franchised Papa John’s restaurants located in the United Kingdom and franchise sales and support activities, which derive revenues from sales of franchise and development rights and the collection of royalties from international franchisees. The company was founded by John H. Schnatter in 1984 and is headquartered in Louisville, KY.

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