Analysts Buy Into The 'Take And Bake' Pizza Business
Earlier this month, Papa Murphy's (NASDAQ: FRSH) successfully completed its IPO in which it was able to raise ~$55.5 million in proceeds.
President and CEO Ken Caldwell commented, "Following the success of our May IPO, we are excited about the opportunities ahead for Papa Murphy's."
In addition to its IPO, the company also reported earnings for the first quarter of 2014 this month. Papa Murphy's was able to achieve solid increases compared to its same-quarter-last-year results, perhaps most notable of which was an 18.9 percent increase to revenues.
Following these events a number of analysts, including Raymond James, Jefferies and Wells Fargo, have initiated coverage on Papa Murphy's with the equivalent of a Buy rating.
Raymond James analysts believes the company has "significant additional expansion potential in existing and new markets," as well as "a strong management team led by a CEO with a long track record of success in the pizza business."
Adding to the optimism, analysts at Jefferies say Papa Murphy's is gearing up to be the "undisputed leader" in the "take and bake" pizza industry. The analysts say these claims are supported by a superior product, lower prices versus peers and its move to triple its national store base.
Shares of Papa Murphy's were up over three percent to $9.66 at last check.
Latest Ratings for FRSH
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