Bank of America Increases Domino’s Pizza (NYSE:DPZ) Price Target to $582.00

Domino’s Pizza (NYSE:DPZ) had its price objective lifted by research analysts at Bank of America from $577.00 to $582.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Bank of America‘s price objective points to a potential upside of 36.84% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Barclays dropped their target price on Domino’s Pizza from $470.00 to $380.00 and set an “underweight” rating for the company in a report on Friday, July 19th. Baird R W upgraded shares of Domino’s Pizza from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 8th. TD Cowen decreased their target price on shares of Domino’s Pizza from $520.00 to $475.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of Domino’s Pizza in a research report on Thursday, June 13th. They issued a “buy” rating and a $612.00 price target for the company. Finally, Royal Bank of Canada cut their price target on Domino’s Pizza from $575.00 to $500.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Domino’s Pizza currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.00.

Domino’s Pizza Stock Performance

Shares of DPZ stock opened at $425.31 on Friday. Domino’s Pizza has a 52 week low of $330.05 and a 52 week high of $542.75. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.21 and a beta of 0.86. The company has a 50-day simple moving average of $423.01 and a 200 day simple moving average of $470.98.

Domino’s Pizza (NYSE:DPZ) last issued its quarterly earnings data on Thursday, July 18th. The restaurant operator reported $4.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.35. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Domino’s Pizza had a negative return on equity of 14.22% and a net margin of 12.42%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.08 earnings per share. Sell-side analysts forecast that Domino’s Pizza will post 16.24 EPS for the current year.

Institutional Investors Weigh In On Domino’s Pizza

Hedge funds have recently added to or reduced their stakes in the business. Coatue Management LLC bought a new position in shares of Domino’s Pizza during the fourth quarter valued at $322,859,000. Price T Rowe Associates Inc. MD raised its position in Domino’s Pizza by 107.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 444,780 shares of the restaurant operator’s stock worth $221,003,000 after purchasing an additional 230,090 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Domino’s Pizza by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 4,098,664 shares of the restaurant operator’s stock worth $2,036,544,000 after buying an additional 222,949 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Domino’s Pizza by 85.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 327,166 shares of the restaurant operator’s stock valued at $168,926,000 after buying an additional 150,526 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Domino’s Pizza in the second quarter valued at about $72,296,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

Domino’s Pizza Company Profile

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.