UPDATE: Argus Downgrades Domino's Pizza (DPZ) to Hold

May 9, 2022 7:35 AM EDT
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Price: $315.18 -2.79%

Rating Summary:
    18 Buy, 22 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 9 | New: 24
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(Updated - May 9, 2022 7:36 AM EDT)

Argus analyst John Staszak downgraded Domino's Pizza (NYSE: DPZ) from Buy to Hold.

The analyst comments "We are lowering our rating on Domino's Pizza Inc. (NYSE: DPZ) to HOLD from BUY. DPZ is being hurt this year by driver shortages and higher costs for labor and pizza ingredients. It is also facing difficult comparisons with 2021, when the pandemic boosted carryout and delivery orders, and posted weak earnings and comp sales in 1Q22. We are lowering our EPS estimates for both 2022 and 2023, and believe that a HOLD rating is now appropriate. We would consider returning DPZ to our BUY list if same-store sales recover, commodity prices moderate, or labor shortages ease."

For an analyst ratings summary and ratings history on Domino's Pizza click here. For more ratings news on Domino's Pizza click here.

Shares of Domino's Pizza closed at $341.79 yesterday.

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