Oppenheimer Issues a Buy Rating on Papa John’s International (PZZA)

In a report released today, Brian Bittner from Oppenheimer assigned a Buy rating to Papa John’s International (PZZA), with a price target of $125.00. The company’s shares closed last Wednesday at $101.52.

According to TipRanks.com, Bittner is a 5-star analyst with an average return of 12.1% and a 68.7% success rate. Bittner covers the Services sector, focusing on stocks such as Restaurant Brands International, Yum China Holdings, and Cheesecake Factory.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Papa John’s International with a $117.00 average price target.

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Based on Papa John’s International’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $512 million and net profit of $33.88 million. In comparison, last year the company earned revenue of $410 million and had a net profit of $8.44 million.

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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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