Papa John’s International Target of Unusually High Options Trading (NASDAQ:PZZA)

Posted by Geri Gentry on Aug 21st, 2026

Papa John’s International, Inc. (NASDAQ:PZZA – Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders acquired 24,081 put options on the company. This represents an increase of 453% compared to the average volume of 4,355 put options.

Analyst Upgrades and Downgrades

Several research firms recently commented on PZZA. Weiss Ratings lowered shares of Papa John’s International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 7th. Stephens reaffirmed an “equal weight” rating and issued a $24.00 price target (down from $38.00) on shares of Papa John’s International in a report on Friday, August 7th. Bank of America reaffirmed an “underperform” rating and set a $34.00 price target (down from $42.00) on shares of Papa John’s International in a research report on Monday, July 13th. UBS Group decreased their price objective on Papa John’s International from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Finally, Benchmark cut Papa John’s International from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $32.00.

Check Out Our Latest Stock Analysis on PZZA

Trending Headlines about Papa John’s International

Here are the key news stories impacting Papa John’s International this week:

Negative Sentiment: Zacks cut its FY2027 EPS forecast to $1.00 from $1.55, a reduction of roughly 35%. It also lowered estimates for Q3 2026 to $0.14 from $0.28, Q1 2027 to $0.28 from $0.46, Q2 2027 to $0.20 from $0.39 and Q4 2027 to $0.26 from $0.39. These cuts point to deteriorating expectations for near-term earnings growth. Papa John’s International analyst estimates
Negative Sentiment: The firm also reduced its FY2026 EPS forecast to $1.21 from $1.40, Q4 2026 EPS to $0.29 from $0.39 and FY2028 EPS to $1.54 from $1.74. Additional cuts included Q3 2027 EPS to $0.26 from $0.32, Q1 2028 EPS to $0.44 from $0.47 and Q2 2028 EPS to $0.27 from $0.38. The breadth of the revisions may reinforce concerns about sustained operating challenges.
Negative Sentiment: Zacks Research’s repeated “Strong Sell” rating further weighs on the outlook. Its FY2026 estimate of $1.21 is roughly in line with the broader $1.22 consensus, but its FY2027 forecast of $1.00 signals considerably weaker earnings than investors may currently expect.

Papa John’s International Stock Up 0.6%

Shares of PZZA traded up $0.14 during mid-day trading on Friday, hitting $23.46. 163,320 shares of the company traded hands, compared to its average volume of 1,238,575. Papa John’s International has a 1-year low of $22.77 and a 1-year high of $55.74. The company has a market capitalization of $772.30 million, a PE ratio of 29.70, a price-to-earnings-growth ratio of 2.42 and a beta of 1.13. The business has a 50 day moving average of $31.35 and a 200 day moving average of $32.98.

Papa John’s International (NASDAQ:PZZA – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The firm had revenue of $482.40 million during the quarter, compared to analyst estimates of $481.25 million. Papa John’s International had a net margin of 1.34% and a negative return on equity of 10.98%. Papa John’s International’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. As a group, research analysts expect that Papa John’s International will post 1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Papa John’s International

Several institutional investors and hedge funds have recently made changes to their positions in PZZA. Private Advisor Group LLC raised its holdings in shares of Papa John’s International by 6.5% in the third quarter. Private Advisor Group LLC now owns 5,220 shares of the company’s stock valued at $251,000 after buying an additional 319 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Papa John’s International by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 18,642 shares of the company’s stock worth $716,000 after buying an additional 328 shares during the last quarter. Alliancebernstein L.P. increased its position in Papa John’s International by 0.8% in the 3rd quarter. Alliancebernstein L.P. now owns 42,662 shares of the company’s stock valued at $2,054,000 after acquiring an additional 354 shares during the period. Intech Investment Management LLC raised its stake in Papa John’s International by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 11,467 shares of the company’s stock valued at $441,000 after acquiring an additional 397 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV raised its stake in Papa John’s International by 2.4% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 18,569 shares of the company’s stock valued at $715,000 after acquiring an additional 436 shares during the last quarter.

Papa John’s International Company Profile

(Get Free Report)

Papa John’s International, Inc is a leading American pizza restaurant chain known for its focus on high-quality ingredients and consistent product offerings. Founded in 1984 by John Schnatter in Jeffersonville, Indiana, the company has grown to operate thousands of restaurants across the United States and in more than 40 international markets. Papa John’s restaurants are primarily franchised, supported by a network of corporate-owned outlets that together drive brand standards, operational guidance and marketing efforts.

The core menu at Papa John’s centers on a variety of hand-tossed and pan pizzas made with a signature stone-baked crust and topped with real cheese, vine-ripened tomato sauce and premium meats and vegetables.