Analysts Set Panera Bread Co. (PNRA) Price Target at $230.50
Panera Bread Co. (NASDAQ:PNRA) has earned a consensus rating of “Buy” from the twenty-seven brokerages that are currently covering the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $230.50.
Several equities research analysts have recently issued reports on the stock. Vetr raised shares of Panera Bread from a “hold” rating to a “strong-buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, July 20th. Maxim Group reissued a “buy” rating and set a $230.00 target price (down from $238.00) on shares of Panera Bread in a research note on Monday, July 18th. Cowen and Company set a $240.00 target price on shares of Panera Bread and gave the stock a “buy” rating in a research note on Thursday, August 11th. Zacks Investment Research raised shares of Panera Bread from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Finally, Credit Suisse Group AG increased their target price on shares of Panera Bread from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th.
In other Panera Bread news, SVP Scott G. Blair sold 204 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $186.00, for a total value of $37,944.00. Following the completion of the transaction, the senior vice president now owns 5,752 shares of the company’s stock, valued at approximately $1,069,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark D. Wooldridge sold 164 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $222.18, for a total transaction of $36,437.52. Following the completion of 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. 6.96% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Seven Eight Capital LLC purchased a new stake in shares of Panera Bread during the first quarter worth $225,000. Arizona State Retirement System raised its stake in shares of Panera Bread by 2.4% in the first quarter. Arizona State Retirement System now owns 12,681 shares of the company’s stock worth $2,597,000 after buying an additional 300 shares during the last quarter. Westend Capital Management LLC purchased a new stake in shares of Panera Bread during the first quarter worth $1,480,000. Sterling Ridge Capital Management LP raised its stake in shares of Panera Bread by 48.3% in the first quarter. Sterling Ridge Capital Management LP now owns 10,056 shares of the company’s stock worth $2,060,000 after buying an additional 3,274 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Panera Bread during the first quarter worth $290,000. Institutional investors and hedge funds own 93.09% of the company’s stock.
Panera Bread (NASDAQ:PNRA) opened at 202.12 on Monday. The company has a 50-day moving average price of $192.90 and a 200 day moving average price of $208.12. Panera Bread has a 52-week low of $165.17 and a 52-week high of $224.15. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 33.61 and a beta of 0.27.
Panera Bread (NASDAQ:PNRA) last posted its earnings results on Tuesday, October 25th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.03. Panera Bread had a net margin of 5.24% and a return on equity of 39.44%. The business had revenue of $684.20 million for the quarter, compared to analyst estimates of $682.04 million. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts expect that Panera Bread will post $6.71 earnings per share for the current year.
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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