13 Best Fast Food Stocks to Buy

11. Papa John’s International, Inc. (NASDAQ:PZZA)

Number of Hedge Fund Holders: 26

Papa John’s International, Inc. (NASDAQ:PZZA) is one of the best fast food stocks to buy. On December 15, Jefferies reiterated its Hold rating on Papa John’s International, Inc. (NASDAQ:PZZA) with a price target of $45.

Previously, on November 21, Stifel also reaffirmed its Hold rating on Papa John’s International, Inc. (NASDAQ:PZZA) with a price target of $42. This update came after an analysis of the company’s recent 10-Q filing. Stifel adjusted its financial model to account for planned cost-saving initiatives by Papa John’s International, Inc. (NASDAQ:PZZA) for 2026 and also the management’s plan to refranchise a big portion of its domestic company-owned locations over the next 2 years.

For Papa John’s International, Inc. (NASDAQ:PZZA), Stifel forecasts about $205 million in EBITDA for fiscal 2026, which represents an increase of about 4% year-over-year. The firm’s estimate falls below the Street consensus, which is $213 million. Stifel pointed out that EBITDA performance could vary significantly depending on whether the company makes an incremental investment in its marketing fund. In 2025, Papa John’s International, Inc. (NASDAQ:PZZA) made a $25 million investment in its marketing fund, raising overall advertising spending by over 20%. The firm’s EBITDA forecast for fiscal 2026 assumes a $10 million incremental marketing investment. This indicates that total advertising spend could drop year-over-year depending on system sales.

Papa John’s International, Inc. (NASDAQ:PZZA) is an American pizza restaurant company that operates one of the world’s largest pizza restaurant chains with about 6,000 restaurants in approximately 50 countries and territories.