Panera Bread Co. (PNRA) Upgraded to “Buy” by Longbow Research
Longbow Research upgraded shares of Panera Bread Co. (NASDAQ:PNRA) from a neutral rating to a buy rating in a research report released on Monday. The firm currently has $239.00 target price on the stock.
Several other analysts have also recently weighed in on PNRA. BTIG Research set a $240.00 price objective on Panera Bread and gave the stock a buy rating in a report on Wednesday, July 27th. BMO Capital Markets reissued a market perform rating and set a $210.00 price objective (up from $205.00) on shares of Panera Bread in a report on Thursday, July 28th. Vetr cut Panera Bread from a buy rating to a hold rating and set a $226.25 price target for the company. in a research note on Monday, August 29th. Cowen and Company set a $240.00 price target on Panera Bread and gave the company a buy rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG upped their price target on Panera Bread from $225.00 to $235.00 and gave the company an outperform rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company’s stock. Panera Bread has a consensus rating of Buy and an average target price of $230.89.
Panera Bread (NASDAQ:PNRA) traded down 0.79% on Monday, reaching $191.21. 56,805 shares of the company’s stock were exchanged. The stock has a market capitalization of $4.51 billion, a PE ratio of 32.36 and a beta of 0.66. The firm has a 50 day moving average of $204.70 and a 200 day moving average of $211.13. Panera Bread has a 12 month low of $165.17 and a 12 month high of $224.15.
Panera Bread (NASDAQ:PNRA) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.04. The firm earned $698.90 million during the quarter, compared to analysts’ expectations of $696.46 million. Panera Bread had a return on equity of 34.45% and a net margin of 5.30%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. Equities analysts predict that Panera Bread will post $6.69 earnings per share for the current fiscal year.
In related news, SVP Scott G. Blair sold 306 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $221.38, for a total transaction of $67,742.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark D. Wooldridge sold 164 shares of the business’s stock in a transaction on Monday, August 15th. The shares were 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 in the company, valued at $324,604.98. The disclosure for this sale can be found here. Corporate insiders own 6.96% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in Panera Bread by 26.6% in the first quarter. Aperio Group LLC now owns 7,942 shares of the company’s stock worth $1,627,000 after buying an additional 1,670 shares during the last quarter. IFP Advisors Inc raised its stake in Panera Bread by 3.6% in the first quarter. IFP Advisors Inc now owns 686 shares of the company’s stock worth $141,000 after buying an additional 24 shares during the last quarter. BlackRock Inc. raised its stake in Panera Bread by 19.2% in the first quarter. BlackRock Inc. now owns 10,499 shares of the company’s stock worth $2,150,000 after buying an additional 1,690 shares during the last quarter. BlackRock Group LTD raised its stake in Panera Bread by 22.5% in the first quarter. BlackRock Group LTD now owns 20,948 shares of the company’s stock worth $4,292,000 after buying an additional 3,844 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Panera Bread by 164.5% in the first quarter. JPMorgan Chase & Co. now owns 63,670 shares of the company’s stock worth $13,043,000 after buying an additional 39,596 shares during the last quarter. Institutional investors own 92.95% of the company’s stock.
About Panera Bread
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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