Why Has Maxim Group Given Popeyes Louisiana Kitchen (NASDAQ:PLKI) a $68 Price Target
Maxim Group analyst launched coverage on Popeyes Louisiana Kitchen (NASDAQ:PLKI) with a $68 target PPS and Buy rating. The target PPS would indicate a potential upside of 18.41% from company’s previous stock close.
From a total of 6 analysts covering Popeyes Louisiana Kitchen (NASDAQ:PLKI) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 43% of the ratings are positive. The highest target price is $70 while the lowest target price is $56. The mean of all analyst targets is $63.08 with a 14.05% above today’s ($57.43) stock price. Popeyes Louisiana Kitchen was the topic of 6 analyst reports since August 22, 2015 according to the firm StockzIntelligence Inc. Longbow downgraded shares on November 10 to “Neutral” rating. Suntrust Robinson initiated PLKI stock in a recent report from October 8 with “Neutral” rating. Finally, Jefferies maintained the stock with “Buy” rating in a report issued on an August 22.
The stock decreased 0.81% or $0.47 during the last trading session, striking $57.43. Approximately shares of stock traded hands. Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI) has risen 0.42% since May 12, 2015 and is uptrending. It has outperformed by 4.10% the S&P500.
The overall sentiment of institutions has increased to 1.29 in Q2 2015. Its up 0.55, from 0.74 in 2015Q2. The ratio is positive, as 22 institutions have sold all the shares of Popeyes Louisiana Kitchen Inc that they owned while 41 funds have taken shares off the table. 11 funds have purchased shares for the first time while 70 added to their positions. These institutions now hold 19.01 million shares or 6.07% less than the 20.24 million shares they owned in 2015Q2.
The Fund Bandera Partners Llc currently is holding shares equating to 16.69% of its total portfolio in Popeyes Louisiana Kitchen Inc representing a total of 503,644 shares. Another fund,Manatuck Hill Partners Llc, is holding a total of 553,300 shares equating to 13.29% of their holdings. Additionally, Avenir Corp has a 978,342 share stake in Popeyes Louisiana Kitchen Inc which represents 4.59% of their total portfolio. The Fund, Manor Road Capital Partners Llc, based out of New York, has also built up a stake in the stock, which represents a total of 3.02% of their total portfolio. Finally Ranger Investment Management L.P., a fund which is based in the state of Texas reported a total holdings of 779,705 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 20, 2015, shareholders of Popeyes Louisiana Kitchen Inc have witnessed 0 insider buys, and a total of 1 sale equating to a net activity of approximately $603,724 . Skehan Andrew G sold 10,078 shares worth approximately $603,724. Bachelder Cheryl A sold 65,900 shares worth approximately $3.96 million.
Popeyes Louisiana Kitchen, Inc. develops, operates, and franchises quick-service restaurants (QSRs or restaurants) under the trade names Popeyes Chicken & Biscuits and Popeyes Louisiana Kitchen. The company has a market cap of $1.30 billion. The Firm operates through two divisions: franchise activities and company-operated restaurants. It has 30.84 P/E ratio. Within the QSR industry, Popeyes offers Louisiana style menu that features spicy chicken, chicken tenders, fried shrimp and other seafood, red beans and rice and other regional items.
According to Zacks Investment Research, “Popeyes Louisiana Kitchen Inc. owns, operates and franchises a chain of quick-service restaurants. The company operates in two business segments: franchise operations and company-operated restaurants. It operates primarily in Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia and Mississippi. Popeyes Louisiana Kitchen Inc., formerly known as AFC Enterprises, Inc., is based in Atlanta, United States.”