Financial Trading Blog
Stock of the day 01/03/2016 – Domino’s Pizza Group PLC
Given the market turmoil of the last few months Domino’s stock price has been remarkably resilient. After hitting a then all-time high of £9.40 back in mid-August the stock took a tumble to £8.28 by the start of December; yet this comparatively small dip was soon overcame by the company’s third quarter figures in mid-October.
Surging 12.5% in the immediate aftermath Domino’s posted a 14.9% jump in like-for-like UK sales for the quarter, with 75% of those sales placed online. Even further than that, and a figure that really displays the company’s tech savvy, half of those online orders were placed through Domino’s app. It is arguably the company’s embracing of the online side of things that has helped it reach such heights and investors rewarded the company in kind, the stock eventually hitting fresh all-time peak of £11.21 in the middle of November.
(Source: IT-Finance.com 01/03/2016)
A slight slip as 2015 wrapped up eventually led Domino’s to start the New Year at £10.38, before tumbling to a 5-ish month low of £8.40 by the start of February thanks to the price-eroding macro-movements of the first 6 weeks of 2016. Yet, just like it did back in October, Domino’s has bounced back with a vengeance, the stock rising all the way to £10.72 as its US (posting a 10.7% rise in like-for-like Q4 sales) and Australian (posting a 55% surge in half year profits) counterparts revealed their own stellar sets of results.
In terms of its own full year figures, the company itself stated that they should be better than expected thanks to the robust nature of its third quarter performance.
Domino’s Pizza Group sits at a current trading price of£10.67, with a consensus rating of ‘Buy’ with an average target price of £10.81.
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