Morgan Stanley Forecasts Strong Price Appreciation for Domino’s Pizza (NASDAQ:DPZ) Stock

Domino’s Pizza (NASDAQ:DPZ) had its price target hoisted by equities research analysts at Morgan Stanley from $492.00 to $510.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the restaurant operator’s stock. Morgan Stanley’s target price suggests a potential upside of 3.77% from the company’s previous close.

A number of other brokerages have also recently weighed in on DPZ. Wells Fargo & Company raised their price objective on shares of Domino’s Pizza from $420.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. Guggenheim boosted their price target on Domino’s Pizza from $450.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 22nd. Wedbush restated an “outperform” rating and set a $500.00 price objective on shares of Domino’s Pizza in a research note on Tuesday, February 25th. BMO Capital Markets increased their price objective on shares of Domino’s Pizza from $500.00 to $515.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Finally, Benchmark increased their price objective on shares of Domino’s Pizza from $520.00 to $535.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $502.20.

Domino’s Pizza Trading Up 0.2 %

NASDAQ:DPZ opened at $491.49 on Tuesday. Domino’s Pizza has a 12 month low of $396.06 and a 12 month high of $542.75. The firm has a market cap of $16.86 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.47 and a beta of 1.15. The stock has a 50 day moving average of $462.91 and a two-hundred day moving average of $448.85.

Domino’s Pizza (NASDAQ:DPZ) last issued its quarterly earnings results on Monday, April 28th. The restaurant operator reported $4.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $0.21. Domino’s Pizza had a net margin of 12.26% and a negative return on equity of 14.35%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm earned $3.58 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts forecast that Domino’s Pizza will post 16.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Reddy Sandeep sold 1,077 shares of Domino’s Pizza stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $443.20, for a total value of $477,326.40. Following the completion of the transaction, the chief financial officer now owns 8,081 shares in the company, valued at approximately $3,581,499.20. This trade represents a 11.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelly E. Garcia sold 2,104 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $436.28, for a total transaction of $917,933.12. Following the transaction, the executive vice president now owns 5,699 shares in the company, valued at approximately $2,486,359.72. This trade represents a 26.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,996 shares of company stock valued at $3,946,461. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Domino’s Pizza

Several hedge funds have recently added to or reduced their stakes in DPZ. Principal Financial Group Inc. grew its holdings in Domino’s Pizza by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,666,158 shares of the restaurant operator’s stock valued at $716,681,000 after buying an additional 23,681 shares during the period. SkyView Investment Advisors LLC lifted its stake in Domino’s Pizza by 11.5% in the third quarter. SkyView Investment Advisors LLC now owns 2,853 shares of the restaurant operator’s stock valued at $1,227,000 after buying an additional 295 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Domino’s Pizza by 737.1% during the third quarter. Tidal Investments LLC now owns 57,441 shares of the restaurant operator’s stock worth $24,708,000 after buying an additional 50,579 shares during the period. Franklin Resources Inc. grew its position in Domino’s Pizza by 42.8% in the 3rd quarter. Franklin Resources Inc. now owns 27,031 shares of the restaurant operator’s stock valued at $11,571,000 after buying an additional 8,103 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Domino’s Pizza during the 3rd quarter valued at $1,649,000. 94.63% of the stock is currently owned by hedge funds and other institutional investors.

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.