Panera Bread Co. (PNRA) Cut to “Neutral” at Wedbush
Panera Bread Co. (NASDAQ:PNRA) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday. They currently have a $220.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 1.31% from the company’s previous close.
A number of other equities analysts also recently issued reports on PNRA. Vetr downgraded Panera Bread from a “strong-buy” rating to a “buy” rating and set a $243.51 price target on the stock. in a research report on Thursday. Zacks Investment Research raised Panera Bread from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Morgan Stanley reissued an “overweight” rating and issued a $250.00 price target on shares of Panera Bread in a report on Thursday, October 27th. BTIG Research reissued a “buy” rating and issued a $240.00 price target on shares of Panera Bread in a report on Wednesday, October 26th. Finally, RBC Capital Markets set a $250.00 price target on Panera Bread and gave the stock a “buy” rating in a report on Friday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $233.33.
Shares of Panera Bread (NASDAQ:PNRA) opened at 217.16 on Monday. Panera Bread has a one year low of $178.99 and a one year high of $224.15. The stock’s 50 day moving average is $197.68 and its 200-day moving average is $207.99. The company has a market cap of $5.05 billion, a PE ratio of 36.11 and a beta of 0.27.
Panera Bread (NASDAQ:PNRA) last released its earnings results on Tuesday, October 25th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.03. Panera Bread had a return on equity of 39.44% and a net margin of 5.24%. The business had revenue of $684.20 million for the quarter, compared to analyst estimates of $682.04 million. During the same quarter last year, the firm posted $1.32 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Panera Bread will post $6.71 earnings per share for the current year.
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In other Panera Bread news, SVP Scott G. Blair sold 204 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $186.00, for a total value of $37,944.00. Following the transaction, the senior vice president now directly owns 5,752 shares of the company’s stock, valued at $1,069,872. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.96% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNRA. Daiwa Securities Group Inc. raised its stake in shares of Panera Bread by 46.0% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock worth $1,547,000 after buying an additional 2,300 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Panera Bread during the second quarter valued at $16,185,000. LS Investment Advisors LLC raised its stake in shares of Panera Bread by 63.3% in the second quarter. LS Investment Advisors LLC now owns 1,396 shares of the company’s stock valued at $296,000 after buying an additional 541 shares in the last quarter. 1st Global Advisors Inc. raised its stake in shares of Panera Bread by 27.7% in the second quarter. 1st Global Advisors Inc. now owns 1,626 shares of the company’s stock valued at $345,000 after buying an additional 353 shares in the last quarter. Finally, Rockefeller Financial Services Inc. purchased a new stake in shares of Panera Bread during the second quarter valued at $196,000. 94.19% 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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