DPZ Sizzles After Same-Quarter Sales Bounce

No less than four analysts lifted their price targets

Deputy Editor
May 27, 2020 at 10:53 AM
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The shares of Domino's Pizza, Inc. (NYSE:DPZ) are up 0.8% to trade at $363.38 after the pizza chain said it saw a 14% bounce in same-store sales in the U.S. during the first two months of its current quarter, while its international sales rose just 1% in the same time period. The news sparked no less than four price-target hikes from analysts. The most notable came from J.P. Morgan Securities, which raised its price target by $20 to $400.

Analysts are leaning toward an optimistic outlook for DPZ. Of the 20 in coverage, 11 brokerages rate it a "buy" or better, while the remaining nine all sport a "hold." More price-target hikes could be in store, as the 12-month consensus target price of $386.75 sits at a modest 6.4% premium to current levels. 

Since its mid-March dip, DPZ has managed an impressive bounceback, eclipsing its late-February peak on April 22 to reach an all-time high of $387.85. Since then,  shares have been consolidating just below this level, with support emerging at the 40-day moving average this week. For the year, DPZ is up 23%. 

In the options pits, calls have been dominant. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), DPZ sports a 50-day call/put volume ratio of 2.16 that ranks in the elevated 97th percentile of its annual range, meaning this rate of calls bought relative to puts is out of the norm.

 

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