Panera Bread Co. (PNRA) PT Raised to $250.00
Panera Bread Co. (NASDAQ:PNRA) had its price objective upped by equities researchers at Maxim Group from $230.00 to $250.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 30.09% from the company’s current price.
A number of other equities analysts also recently commented on the company. Vetr downgraded Panera Bread from a “strong-buy” rating to a “hold” rating and set a $202.50 price objective for the company. in a research report on Wednesday, September 21st. Robert W. Baird restated an “outperform” rating on shares of Panera Bread in a research note on Thursday, September 8th. Canaccord Genuity initiated coverage on Panera Bread in a research note on Monday, August 22nd. They set a “buy” rating and a $255.00 target price for the company. Piper Jaffray Cos. boosted their target price on Panera Bread from $237.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, August 18th. Finally, Cowen and Company set a $240.00 target price on Panera Bread and gave the stock a “buy” rating in a research note on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $230.52.
Panera Bread (NASDAQ:PNRA) opened at 192.18 on Thursday. The company has a market cap of $4.53 billion, a PE ratio of 32.53 and a beta of 0.71. The firm’s 50-day moving average is $210.88 and its 200-day moving average is $212.06. Panera Bread has a 52-week low of $165.17 and a 52-week high of $224.15.
Panera Bread (NASDAQ:PNRA) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.04. Panera Bread had a return on equity of 34.45% and a net margin of 5.30%. The business earned $698.90 million during the quarter, compared to the consensus estimate of $696.46 million. During the same period in the previous year, the company posted $1.61 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Panera Bread will post $6.69 EPS for the current year.
In other Panera Bread news, insider Mark D. Wooldridge sold 164 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $222.18, for a total value of $36,437.52. Following the sale, the insider now owns 1,461 shares of the company’s stock, valued at $324,604.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott G. Blair sold 202 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $217.95, for a total value of $44,025.90. The disclosure for this sale can be found here. 6.96% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of PNRA. Mason Street Advisors LLC purchased a new stake in Panera Bread during the second quarter valued at $2,204,000. Northwestern Mutual Wealth Management Co. raised its stake in Panera Bread by 10.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 994 shares of the company’s stock worth $211,000 after buying an additional 94 shares during the last quarter. IFP Advisors Inc raised its stake in Panera Bread by 8.6% in the second quarter. IFP Advisors Inc now owns 745 shares of the company’s stock worth $158,000 after buying an additional 59 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Panera Bread by 13.0% in the second quarter. Public Employees Retirement System of Ohio now owns 44,874 shares of the company’s stock worth $9,511,000 after buying an additional 5,169 shares during the last quarter. Finally, Colonial Trust Advisors raised its stake in Panera Bread by 4.0% in the second quarter. Colonial Trust Advisors now owns 14,660 shares of the company’s stock worth $3,107,000 after buying an additional 560 shares during the last quarter. 92.95% of the stock is currently owned by institutional investors.
Panera Bread Company Profile
Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with approximately 1,970 Company-owned and franchise-operated bakery-cafe locations in over 45 states, the District of Columbia, and Ontario, Canada. The Company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations.
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