Morgan Stanley Cuts Domino’s Pizza (NYSE:DPZ) Price Target to $510.00

Domino’s Pizza (NYSE:DPZ) had its price objective decreased by equities researchers at Morgan Stanley from $520.00 to $510.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective suggests a potential upside of 24.77% from the company’s previous close.

A number of other brokerages also recently weighed in on DPZ. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Domino’s Pizza from $580.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Bank of America increased their price target on Domino’s Pizza from $577.00 to $582.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price target on Domino’s Pizza from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Wedbush dropped their target price on Domino’s Pizza from $510.00 to $470.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen reduced their price target on shares of Domino’s Pizza from $520.00 to $475.00 and set a “buy” rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $503.69.

Domino’s Pizza Trading Down 1.1 %

Shares of DPZ opened at $408.75 on Friday. Domino’s Pizza has a 52 week low of $332.13 and a 52 week high of $542.75. The firm has a market cap of $14.29 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.23 and a beta of 0.86. The stock has a 50 day moving average of $421.61 and a 200-day moving average of $469.81.

Domino’s Pizza (NYSE:DPZ) last released its quarterly earnings data on Thursday, October 10th. The restaurant operator reported $4.19 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.54. Domino’s Pizza had a net margin of 12.42% and a negative return on equity of 14.22%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $4.18 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that Domino’s Pizza will post 16.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in shares of Domino’s Pizza by 7,821.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,505 shares of the restaurant operator’s stock valued at $647,000 after acquiring an additional 1,486 shares during the last quarter. Annex Advisory Services LLC purchased a new stake in shares of Domino’s Pizza during the third quarter valued at $10,515,000. Gateway Investment Advisers LLC boosted its position in shares of Domino’s Pizza by 8.6% in the 3rd quarter. Gateway Investment Advisers LLC now owns 897 shares of the restaurant operator’s stock valued at $386,000 after purchasing an additional 71 shares during the period. Peak Financial Advisors LLC purchased a new position in Domino’s Pizza in the 3rd quarter worth about $2,984,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Domino’s Pizza during the 3rd quarter worth about $43,000. Institutional investors and hedge funds 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.