Maxim Group issues “Hold” Rating on Popeyes Louisiana Kitchen Inc (PLKI)

Popeyes Louisiana Kitchen Inc (PLKI) was Reiterated by Maxim Group to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $63 . Maxim Group advised their Clients and Investors in a research report released on Feb 14, 2017.

On the company’s financial health, Popeyes Louisiana Kitchen Inc reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Nov 9, 2016. Analyst had a consensus of $0.53. The company had revenue of $64.00 million for the quarter, compared to analysts expectations of $64.92 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Several company insiders have filed Insider transactions , on Sep 19, 2016, Carolyn H Byrd (director) sold 1,500 shares at $54.65 per share price. According to the SEC, on Apr 18, 2016, Richard Lynch (Chief Global Brand Officer) sold 8,300 shares at $52.78 per share price. On Mar 3, 2016, Harold M Cohen (General Counsel) sold 5,500 shares at $55.10 per share price, according to the Form-4 filing with the securities and exchange commission.

Popeyes Louisiana Kitchen Inc opened for trading at $65.84 and hit $66.06 on the upside on Friday, eventually ending the session at $66.04, with a gain of 1.20% or 0.78 points. The heightened volatility saw the trading volume jump to 1,39,710 shares. Company has a market cap of $1,369 M.

Popeyes Louisiana Kitchen Inc. (Popeyes) develops operates and franchises quick-service restaurants (QSRs or restaurants) under the trade names Popeyes Chicken & Biscuits and Popeyes Louisiana Kitchen. The Company operates through two segments: franchise operations and company-operated restaurants. 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. The Company has approximately 340 franchisees operating restaurants within the Popeyes system. Its domestic franchisee operates approximately 132 restaurants and its international franchisee operates approximately 109 restaurants. The Company operates and franchises approximately 2379 Popeyes restaurants in 48 states the District of Columbia three territories and 26 foreign countries.

Popeyes Louisiana Kitchen Inc

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