Papa John's Stock Declines 38% YTD: Buy at the Dip or Stay Away?

Papa John's International, Inc. (PZZA) stock has disappointed investors this year, underperforming the industry and the S&P 500. The company's dismal performance was due to the challenging macroeconomic environment and decline in organic delivery. So far this year, PZZA stock has declined 38.4% compared with the industry's decrease of 2% and against the S&P 500 composite's growth of 13.3%. As of Friday, the stock closed at $46.93, significantly below its 52- week high of$78.74 but above the low of $39.90. ...