Multiple analysts lowered price targets for Domino's Pizza on Thursday. Evercore ISI reduced its target from $400 to $350, citing weak sales and a lack of innovation. TD Cowen cut its target from $350 to $295 while maintaining a hold rating.
Analysts point to intense competitor discounting as a primary headwind. Evercore ISI lowered its second-quarter U.S. same-store sales estimate to negative 1.5%. This projection falls below current market consensus.
The company recently announced that CEO Russell Weiner will step down. Domino's Pizza stock currently trades near its 52-week low.