Time to Sell Papa John's International, Inc. (PZZA) After The Completion of This Wedge Down Chart Pattern?

July 27, 2018 - By Carolyn Hewitt

Papa John's International, Inc. (NASDAQ:PZZA) Logo

Investors sentiment decreased to 0.65 in 2018 Q1. Its down 0.32, from 0.97 in 2017Q4. It worsened, as 41 investors sold Papa John's International, Inc. shares while 76 reduced holdings. 34 funds opened positions while 42 raised stakes. 28.37 million shares or 0.51% less from 28.52 million shares in 2017Q4 were reported.
Fmr Ltd Liability Company accumulated 685,111 shares. Engineers Gate Manager Lp reported 39,068 shares. Thomson Horstmann & Bryant, Connecticut-based fund reported 6,254 shares. 913,286 are held by Dimensional Fund Lp. Price T Rowe Associate Md, Maryland-based fund reported 1.82 million shares. Bancshares Of Montreal Can accumulated 4,052 shares or 0% of the stock. 132,741 are held by Point72 Asset Mgmt Ltd Partnership. Mutual Of America Capital Mngmt Limited Liability Corp reported 20,177 shares. 210,145 are held by Atlas Browninc. State Of Tennessee Treasury Department holds 13,162 shares. Tower Research Cap Lc (Trc) holds 0.03% or 5,990 shares. State Board Of Administration Of Florida Retirement System holds 0% in Papa John's International, Inc. (NASDAQ:PZZA) or 11,466 shares. Virtu Fincl holds 0.03% or 10,945 shares in its portfolio. Balyasny Asset Ltd Limited Liability Company holds 465,885 shares or 0.11% of its portfolio. Blackrock, a New York-based fund reported 2.72 million shares.

Since March 1, 2018, it had 0 insider buys, and 4 sales for $3.47 million activity. OHern Timothy C also sold $677,623 worth of Papa John's International, Inc. (NASDAQ:PZZA) shares. The insider Oyler Caroline Miller sold $107,726. The insider SHAPIRO MARK S sold 8,232 shares worth $500,318.

The stock of Papa John's International, Inc. (PZZA) formed a down wedge with $40.89 target or 8.00 % below today’s $44.45 share price. The 7 months wedge indicates high risk for the $1.43B company. If the $40.89 price target is reached, the company will be worth $114.48M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.51% or $0.23 during the last trading session, reaching $44.45. About 1.73 million shares traded or 86.31% up from the average. Papa John's International, Inc. (NASDAQ:PZZA) has declined 33.78% since July 27, 2017 and is downtrending. It has underperformed by 46.35% the S&P500.

Analysts await Papa John's International, Inc. (NASDAQ:PZZA) to report earnings on August, 7. They expect $0.52 earnings per share, down 20.00 % or $0.13 from last year’s $0.65 per share. PZZA’s profit will be $16.74M for 21.37 P/E if the $0.52 EPS becomes a reality. After $0.50 actual earnings per share reported by Papa John's International, Inc. for the previous quarter, Wall Street now forecasts 4.00 % EPS growth.

Papa John's International, Inc. (NASDAQ:PZZA) Ratings Coverage

Among 3 analysts covering Papa John’s International (NASDAQ:PZZA), 1 have Buy rating, 1 Sell and 1 Hold. Therefore 33% are positive. Papa John’s International had 4 analyst reports since May 3, 2018 according to SRatingsIntel. The company was maintained on Tuesday, June 19 by Citigroup. The rating was maintained by Stifel Nicolaus on Thursday, May 3 with “Hold”. Stifel Nicolaus downgraded it to “Sell” rating and $38 target in Monday, July 23 report. Longbow downgraded Papa John's International, Inc. (NASDAQ:PZZA) on Wednesday, May 9 to “Neutral” rating.

More notable recent Papa John's International, Inc. (NASDAQ:PZZA) news were published by: Seekingalpha.com which released: “Is Wendy’s hungry for restaurant target?” on July 19, 2018, also Nasdaq.com with their article: “Why Cal-Maine Foods, Papa John’s International, and Netgear Slumped Today” published on July 23, 2018, Nasdaq.com published: “Are CEOs Really Worth What They’re Paid?” on July 19, 2018. More interesting news about Papa John's International, Inc. (NASDAQ:PZZA) were released by: Seekingalpha.com and their article: “Wall Street Breakfast: Earnings Season Kicks Into High Gear” published on July 23, 2018 as well as Nasdaq.com‘s news article titled: “20 Stocks with Big Short Squeeze Potential” with publication date: July 26, 2018.

Papa JohnÂ’s International, Inc. operates and franchises pizza delivery and carryout restaurants under the Papa JohnÂ’s trademark in the United States and internationally. The company has market cap of $1.43 billion. It operates through five divisions: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, International Operations, and All Others. It has a 17.3 P/E ratio. The firm also operates dine-in and delivery restaurants.

Papa John's International, Inc. (NASDAQ:PZZA) Institutional Positions Chart

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