Panera Bread Co. (PNRA) Rating Reiterated by Wedbush
Panera Bread Co. (NASDAQ:PNRA)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research report issued on Saturday. They presently have a $220.00 target price on the stock, down from their prior target price of $250.00. Wedbush’s target price suggests a potential upside of 15.00% from the company’s current price.
A number of other brokerages have also weighed in on PNRA. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Panera Bread in a report on Thursday, July 28th. Vetr raised Panera Bread from a “hold” rating to a “buy” rating in a report on Tuesday, August 30th. Cowen and Company set a $240.00 price objective on Panera Bread and gave the stock a “buy” rating in a report on Thursday, August 11th. Canaccord Genuity started coverage on Panera Bread in a report on Monday, August 22nd. They set a “buy” rating and a $255.00 price objective on the stock. Finally, Stifel Nicolaus lowered Panera Bread from a “hold” rating to a “sell” rating and set a $175.00 price objective on the stock. in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Panera Bread presently has a consensus rating of “Buy” and a consensus target price of $229.59.
Panera Bread (NASDAQ:PNRA) traded up 0.26% on Friday, hitting $191.31. The stock had a trading volume of 383,860 shares. Panera Bread has a one year low of $165.17 and a one year high of $224.15. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 32.38 and a beta of 0.66. The stock’s 50 day moving average is $201.57 and its 200 day moving average is $210.58.
Panera Bread (NASDAQ:PNRA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $696.46 million. During the same quarter in the prior year, the business earned $1.61 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Panera Bread will post $6.69 earnings per share for the current year.
In other news, SVP Scott G. Blair sold 202 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $217.95, for a total value of $44,025.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark D. Wooldridge sold 164 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $222.18, for a total value of $36,437.52. Following the completion of the sale, the insider now owns 1,461 shares of the company’s stock, valued at approximately $324,604.98. The disclosure for this sale can be found here. 6.96% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Krilogy Financial LLC raised its stake in Panera Bread by 8.6% in the second quarter. Krilogy Financial LLC now owns 630 shares of the company’s stock worth $134,000 after buying an additional 50 shares during the period. IFP Advisors Inc raised its stake in shares of 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 period. Tower Research Capital LLC TRC raised its stake in shares of Panera Bread by 17.9% in the second quarter. Tower Research Capital LLC TRC now owns 849 shares of the company’s stock worth $179,000 after buying an additional 129 shares during the period. Rockefeller Financial Services Inc. acquired a new stake in shares of Panera Bread during the second quarter worth $196,000. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Panera Bread during the first quarter worth $204,000. Institutional investors and hedge funds 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.
Receive News & Stock Ratings for Panera Bread Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Panera Bread Co. and related stocks with our FREE daily email newsletter.