“Super Bowl Sunday isn’t only a big advertising day for PZZA, it’s also one of the pizza chain’s busiest days of the year. In fact, according to the National Restaurant Association, 61% of survey respondents called pizza a ‘must-have dish’ for game-day parties. Along those same lines, roughly 48 million Americans are expected to order take-out that day, Dow Jones reports,” reports Forbes.com.
“Technically speaking, the shares of PZZA have been piping hot, tagging a new all-time high of $39.40 in Thursday’s session. From a longer-term perspective, the equity has outperformed the broader S&P 500 Index (SPX) by 11% during the past 60 sessions, ushered higher atop its 10-week moving average, which has provided support since mid-September.”
“However, despite PZZA’s technical prowess, the Street remains unconvinced of the stock’s strength. According to Zacks, just one analyst offers up a ‘buy’ or better recommendation, compared to four “hold” or worse ratings. Likewise, Thomson Reuters pegs the average 12-month price target on the equity at $37.75, representing a discount to PZZA’s closing price of $38.91 on Thursday. Should the shares extend their quest for new highs, a wave of upgrades and/or price-target boosts could add fuel to the stock’s fire.”