Royal Bank of Canada Cuts Domino’s Pizza (NYSE:DPZ) Price Target to $490.00

Domino’s Pizza (NYSE:DPZ) had its price objective cut by research analysts at Royal Bank of Canada from $500.00 to $490.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.43% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Benchmark dropped their target price on Domino’s Pizza from $575.00 to $520.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Bank of America decreased their price objective on Domino’s Pizza from $582.00 to $557.00 and set a “buy” rating for the company in a report on Friday. Evercore ISI reduced their price target on Domino’s Pizza from $500.00 to $480.00 and set an “outperform” rating on the stock in a research report on Monday. TD Cowen reduced their target price on Domino’s Pizza from $520.00 to $475.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Baird R W upgraded shares of Domino’s Pizza from a “hold” rating to a “strong-buy” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Domino’s Pizza currently has an average rating of “Moderate Buy” and a consensus target price of $494.03.

Domino’s Pizza Stock Performance

Shares of NYSE DPZ traded up $23.25 during trading hours on Friday, hitting $432.00. 778,542 shares of the stock were exchanged, compared to its average volume of 613,855. Domino’s Pizza has a 1-year low of $332.13 and a 1-year high of $542.75. The company has a market cap of $15.11 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.23 and a beta of 0.86. The company’s fifty day simple moving average is $421.61 and its two-hundred day simple moving average is $469.81.

Domino’s Pizza (NYSE:DPZ) last issued its quarterly earnings results on Thursday, October 10th. The restaurant operator reported $4.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.65 by $0.54. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. Domino’s Pizza had a negative return on equity of 14.22% and a net margin of 12.42%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.18 EPS. As a group, sell-side analysts expect that Domino’s Pizza will post 16.24 EPS for the current fiscal year.

Institutional Trading of Domino’s Pizza

Several hedge funds and other institutional investors have recently modified their holdings of DPZ. Central Pacific Bank Trust Division purchased a new stake in shares of Domino’s Pizza during the third quarter worth $30,000. Blue Trust Inc. grew its holdings in Domino’s Pizza by 162.5% during the 2nd quarter. Blue Trust Inc. now owns 63 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 39 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Domino’s Pizza during the first quarter valued at about $36,000. Versant Capital Management Inc lifted its holdings in shares of Domino’s Pizza by 654.5% in the second quarter. Versant Capital Management Inc now owns 83 shares of the restaurant operator’s stock worth $43,000 after buying an additional 72 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Domino’s Pizza during the third quarter valued at approximately $43,000. Institutional investors own 94.63% of the company’s stock.

About Domino’s Pizza

Domino’s Pizza, Inc, through its subsidiaries, operates as a pizza company in the United States and internationally. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino’s brand name through company-owned and franchised stores.