Domino's Pizza Upgraded to Buy

NEW YORK ( TheStreet) -- Domino's Pizza ( DPZ) was upgraded to buy from hold by TheStreet Ratings on Thursday.

The stock has been on a tear since its fourth-quarter earnings announcement on Feb. 28. The company reported fourth-quarter net income of $30.9 million, or 52 cents a share, up from year-ago earnings of $24.2 million, or 40 cent. The stock hit a 52-week high of $36.17 on the same day it reported earnings.

Shares hit another 52-week high on Wednesday of $39.92. The stock's 52-week low of $16.88 was set on March 15.

Jim Cramer said Domino's is a buy at about $35.

Domino's Pizza has an estimated price-to-earnings ratio for next year of 17.43 times; the average or restaurant and bar companies is 19.26. For comparison, Papa John's International ( PZZA) has a lower forward P/E of 13.6; Buffalo Wild Wings' ( BWLD) forward P/E is 22.17.

Twelve of the 16 analysts who cover Domino's Pizza rated it a hold; four analysts gave the stock a buy rating.

TheStreet Ratings gives Domino's Pizza a B grade and a $50.58 price target. The stock closed Wednesday at $39.48 and has risen 16.29% year to date.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

-- Written by Alexandra Zendrian

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: tips@thestreet.com.

>To follow the writer on Twitter, go to Alexandra Zendrian.

If you liked this article you might like

Buffalo Wild Wings Sees Exploding Chicken Wing Prices Just in Time for Football

Domino's Pizza CEO: In 10 Years,Self-Driving Cars Will Deliver Pizza

Domino's Pizza CEO Thinks Self Driving Cars Will Deliver Pizza in 10 Years

North Korea Leader Kim Jong Un Warrants Your Attention, Silly Investor