Domino’s Pizza (DPZ)

Mar 31, 2023Trade Ideas

Keep an eye on Domino’s Pizza (DPZ).

After gapping from about $350 to $290, the stock has been coming back strong. In fact, last trading at $327.65, it looks like it could refill its bearish gap shortly. Helping, CEO Russell Weiner has been actively buying stock. He paid $1 million on March 2 for 3,333 shares of DPZ at an average price of $303.58 each.

And, as noted by Citi analyst Jon Tower raised the firm’s price target on Domino’s Pizza to $328 from $316 and keeps a Neutral rating on the shares. Most of the company’s delivery metrics improved quarter-over-quarter and net job postings remained elevated versus history in Citi’s latest survey, the analyst tells investors in a research note. The firm says progressing delivery metrics would support the idea that Domino’s one-year U.S. same-store-sales have ticked-up sequentially.

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