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PZZA

Papa John's

$53.47

-0.18 (-0.34%)

16:18
07/13/18
07/13
16:18
07/13/18
16:18

Papa John's CEO says will lead effort committed to diversity, equity, inclusion

Papa John's CEO Steve Ritchie said, "Papa John's is not an individual. Papa John's is a pizza company with 120,000 corporate and franchise team members around the world. Our employees represent all walks of life, and we are committed to fostering an inclusive and equitable workplace for all. Racism and any insensitive language, no matter what the context simply cannot - and will not - be tolerated at any level of our company. The board of directors of Papa John's accepted Mr. Schnatter's resignation as chairman of the board earlier this week. It has also been decided he will no longer be in any of the advertising or marketing materials associated with the brand. This decision is the first of several key steps to rebuild trust from the inside-out. We will be engaging a broad set of stakeholders to chart a course forward that demonstrates our commitment to diversity, equity and inclusion. First, we will identify and retain an independent and outside expert to audit all of our existing processes, policies and systems related to diversity and inclusion, supplier engagement and Papa John's culture. As part of that process, we will establish a process for communicating progress against transparent goals to everyone in our Papa John's family. The entire senior management team will also be visiting key locations across the country and hold listening sessions with employees in our stores to talk about what they are seeing and give them a platform to voice their concerns. To follow-up, we will initiate two-way conversations to invite ongoing feedback from employees and franchisees to ensure that their voices are heard. I will personally be leading this effort because there is nothing more important for Papa John's right now. We want to regain trust, though I know we need to earn it. We will demonstrate that a diverse and inclusive culture exists at Papa John's through our deeds and actions."

  • 18

    Jul

PZZA Papa John's
$53.47

-0.18 (-0.34%)

05/09/18
05/09/18
DOWNGRADE

Neutral
Papa John's downgraded to Neutral following comp miss at Longbow
As previously reported, Longbow downgraded Papa John's to Neutral from Buy following the Q1 earnings and comp miss. Analyst Alton Stump is concerned Papa John's may not have a recovery in comps in the near-term and recommends investors wait for a significant pullback and or evidence same-store-sales being to recover in the coming quarters before becoming constructive on shares.
05/09/18
05/09/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Crocs (CROX) downgraded to Hold from Buy at Stifel with analyst Jim Duffy saying he believes the stock has "adequately" re-rated to discount fiscal 2019 earnings power. 2. Monster Beverage (MNST) downgraded to Neutral from Overweight at JPMorgan with analyst Andrea Teixeira saying she sees a "difficult road ahead" for the company following its first quarter results. 3. Adient (ADNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Armintas Sinkevicius saying that recent management commentary appears to have taken the potential for strategic action involving the underperforming metals business off the table. 4. Ironwood (IRWD) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst David Lebowitz saying he believes management's target of Linzess U.S. sales exceeding $1B by 2020 could be a challenge given the recent deceleration in volume growth. 5. Papa John's (PZZA) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying he is concerned Papa John's may not have a recovery in comps in the near-term and recommends investors wait for a significant pullback and or evidence same-store-sales being to recover in the coming quarters before becoming constructive on shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/18
STFL
07/11/18
NO CHANGE
Target $50
STFL
Hold
Papa John's founder's comments 'potentially a major setback,' says Stifel
After Forbes published an article detailing an incident in which founder and chairman John Schnatter used the "N-word" on a May conference call between company executives and marketing agency Laundry Service, Stifel analyst Chris O'Cull said the comments are "potentially a major setback," for the company, which was beginning to work through the PR incident in November 2017 regarding Schnatter's comments that Papa John's sales were hurt by the NFL's handling of protests by players who knelt during the National Anthem. While the company's social media activity had returned to normal levels over the last three months, O'Cull says this incident "seems to have brought old issues back to the forefront" of consumers' minds. He is also concerned that brand sentiment will turn meaningfully negative for a sustained period of time, possibly impacting the company's relationships with local NFL teams and the MLB. O'Cull has a Hold rating and $50 price target on Papa John's and expects a modest EPS decline in 2018 due to pressure from negative SRS and investments to improve the customer experience. Long-term EPS growth is seen in the 10%-15% range rather than the historical 20%+ range due to less domestic growth potential.
07/12/18
SPHN
07/12/18
NO CHANGE
Target $70
SPHN
Overweight
'Papa' John Schnatter's resignation should help stem risks, says Stephens
Stephens analyst Will Slabaugh said the resignation of John Schnatter as Chairman of the Board at Papa John's should help stem what had likely been an elevated risk of the company losing various partnerships and sponsorship deals. He looks for the company to now direct its focus toward mitigating the bad publicity from Schnatter alleged use of a racial slur on a conference call and then addressing the multiple avenues he sees available for new opportunity. Slabaugh, who still believes in the brand's positioning and growth potential, keeps an Overweight rating and $70 price target on Papa John's shares.

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