On August 5, 2023, equities researchers at Shore Capital reiterated their “hold” rating for Domino’s Pizza Group (LON:DOM), a leading pizza brand in the UK and Republic of Ireland. This announcement was made in a research report published on the London Stock Exchange.
In addition to Shore Capital’s assessment, several other research firms have shared their evaluations of Domino’s Pizza Group. On the same day as Shore Capital’s report, Jefferies Financial Group maintained a “buy” rating with a target price set at GBX 380. Subsequently, on August 7, Royal Bank of Canada revised its target price down from GBX 350 to GBX 285, assigning an “outperform” rating. In a separate report dated September 18, Peel Hunt also reaffirmed a “buy” rating with a target price of GBX 350.
Further complicating the picture, Deutsche Bank Aktiengesellschaft downgraded Domino’s Pizza Group’s stock to a “hold” rating, decreasing their target price from GBX 309 to GBX 235 on September 16. Overall, three analysts maintain a “buy” rating, while two have categorized it as a “hold.” According to MarketBeat, the stock currently holds an average rating of “Moderate Buy” with an average price target of GBX 312.50.
Recent Earnings and Insider Activity
Domino’s Pizza Group revealed its earnings results on August 5, reporting earnings per share (EPS) of GBX 8.40 for the quarter. The company recorded a net margin of 11.44% and a negative return on equity of 67.25%. Analysts forecast that Domino’s Pizza Group will achieve an EPS of approximately 23.33 for the current fiscal year.
In a show of confidence, insider Robyn Perriss acquired 290,300 shares of Domino’s Pizza Group on August 11 at an average price of GBX 210 per share, totaling £609,630. Another insider, Ian Bull, purchased 5,000 shares on September 22 at an average of GBX 197, amounting to £9,850. Over the past ninety days, corporate insiders have bought a total of 333,650 shares valued at approximately $69.96 million. Insiders now hold 13.67% of the company’s stock.
Established as a key player in the pizza industry, Domino’s Pizza Group operates under exclusive master franchise rights in the UK and Ireland, a long-term agreement with Domino’s Pizza International Franchising Inc, the international arm of Domino’s Pizza Inc.
As investors and analysts continue to observe the company’s performance closely, the shifting ratings and insider activities underscore the dynamic landscape surrounding Domino’s Pizza Group and its prospects in the competitive food market.
