According to a recent research note issued by Oppenheimer, the “outperform” rating for Domino’s Pizza (NYSE:DPZ) stock has been reaffirmed. The research firm also maintained its price objective of $450.00 for the restaurant operator’s stock. This target price suggests a potential upside of 17.46% from the current price.
On Tuesday, shares of NYSE DPZ opened at $383.11. The company has a 50-day moving average price of $390.44 and a two-hundred day moving average price of $345.31. With a market cap of $13.44 billion, a P/E ratio of 28.96, and a beta of 0.85, Domino’s Pizza continues to be an attractive investment option.
When considering institutional investors and hedge funds, there has been notable activity surrounding the company’s shares recently. MV Capital Management Inc., for example, raised its position in Domino’s Pizza by 281% in the first quarter, resulting in additional holdings of 59 shares worth $26,000 overall.
Further interest in Domino’s Pizza stock is seen through GPS Wealth Strategies Group LLC purchasing new stakes worth approximately $30,000 during the first quarter, as well as KB Financial Partners LLC buying shares valued at around $32,000 during the same period.
UMB Bank n.a., too, took advantage of an opportunity by acquiring new positions amounting to roughly $34,000 during the second quarter. Finally,OLD Mission Capital LLC added to their portfolio with new stake purchases worth about $42,000 in the fourth quarter.
With regard to financial performance, Domino’s Pizza released its quarterly earnings results on July 24th earlier this year. The restaurant operator reported earnings per share (EPS) of $3.08 for Q2 2023 — surpassing the consensus estimate by $0.02 EPS.
Despite challenges faced during this period, such as a net margin of 10.49% and a negative return on equity of 11.24%, Domino’s Pizza managed to generate $1.02 billion in revenue for the quarter. While this was slightly below analyst estimates of $1.07 billion, it’s worth noting that the company’s revenue experienced a decrease of 3.8% compared to the same quarter last year.
Analysts predict that Domino’s Pizza will post earnings per share of 13.73 for the current fiscal year.
Overall, with Oppenheimer reaffirming its “outperform” rating and maintaining its price target, coupled with the positive financial performance exhibited by Domino’s Pizza in recent quarters, investors may find this stock an attractive opportunity within the market.
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Analysts’ Views on Domino’s Pizza: Mixed Opinions and Insights into the Company’s Stock
Domino’s Pizza has been making waves in the equities market, with several equities research analysts providing their analysis and opinions on the company’s stock. The recent comments shed light on the current state of affairs within Domino’s Pizza.
On July 19th, BTIG Research raised their target price on Domino’s Pizza from $400.00 to $465.00, accompanied by a “buy” rating. This signifies their confidence in the stock and suggests that they believe it presents a good investment opportunity.
JPMorgan Chase & Co. also upgraded Domino’s Pizza from a “neutral” rating to an “overweight” rating on June 1st. Alongside this upgrade, they raised their target price for the company from $340.00 to $360.00. This change indicates that JPMorgan Chase & Co. believes Domino’s Pizza has great potential for growth, further supporting its positive outlook.
Morgan Stanley chimed in on July 25th, raising their price objective on Domino’s Pizza from $425.00 to $440.00, with an accompanying “overweight” rating. This once again reflects optimism regarding the future performance of the pizza chain.
Similarly, BMO Capital Markets upped their target price from $450.00 to $455.00 and gave a favorable “outperform” rating in a research report released on July 25th.
However, not all analysts share this same level of enthusiasm for Domino’s Pizza stock. Barclays lifted their price target from $270.00 to only $320.00 and assigned it an “underweight” rating on July 24th.
Overall, one analyst has given the stock a sell rating while thirteen have opted for a hold rating and fourteen have provided it with a buy recommendation.
To further delve into the insider trading activity at Domino’s Pizza, Cynthia A. Headen sold 382 shares of the stock worth over $152,800. This transaction was disclosed in a legal filing with the Securities & Exchange Commission on July 12th.
It’s interesting to note that company insiders have sold a total of 427 shares valued at $170,095 in the last three months. Company insiders currently own 0.76% of the company’s stock.
As of September 27, 2023, Bloomberg.com reports that the stock has a consensus rating of “Hold” and an average target price of $396.96.
In conclusion, Domino’s Pizza has received mixed reviews from equity research analysts, with some expressing their confidence and optimism while others maintain a more cautious stance. With analysts providing varying perspectives, potential investors should carefully consider these opinions before making any investment decisions regarding Domino’s Pizza stock.
