Panera Bread Co. (NASDAQ:PNRA) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Thursday. They presently have a $243.51 price objective on the stock. Vetr‘s price target would suggest a potential upside of 11.75% from the company’s current price.
Several other analysts have also commented on PNRA. RBC Capital Markets set a $250.00 price objective on shares of Panera Bread and gave the stock a “buy” rating in a report on Friday, October 21st. BMO Capital Markets restated a “market perform” rating and issued a $210.00 price objective (up from $205.00) on shares of Panera Bread in a report on Thursday, July 28th. BTIG Research set a $240.00 price objective on shares of Panera Bread and gave the stock a “buy” rating in a report on Wednesday, July 27th. Morgan Stanley restated an “overweight” rating and issued a $250.00 price objective on shares of Panera Bread in a report on Thursday, October 27th. Finally, Credit Suisse Group AG raised their price objective on shares of Panera Bread from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Panera Bread currently has a consensus rating of “Buy” and an average price target of $233.33.
Panera Bread (NASDAQ:PNRA) remained flat at $217.90 during mid-day trading on Thursday. The stock has a market cap of $5.07 billion, a P/E ratio of 36.23 and a beta of 0.27. The stock has a 50 day moving average of $196.77 and a 200-day moving average of $207.99. Panera Bread has a 12-month low of $178.99 and a 12-month high of $224.15.
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 Thomson Reuters’ consensus estimate of $1.34 by $0.03. The company had revenue of $684.20 million for the quarter, compared to analysts’ expectations of $682.04 million. Panera Bread had a return on equity of 39.44% and a net margin of 5.24%. Panera Bread’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. Equities research analysts expect that Panera Bread will post $6.71 earnings per share for the current fiscal year.
In related news, SVP Scott G. Blair sold 204 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. 6.96% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Krilogy Financial LLC boosted its stake in shares of Panera Bread by 8.6% in the second quarter. Krilogy Financial LLC now owns 630 shares of the company’s stock valued at $134,000 after buying an additional 50 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Panera Bread by 12.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 769 shares of the company’s stock valued at $150,000 after buying an additional 85 shares during the last quarter. IFP Advisors Inc boosted 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 valued at $158,000 after buying an additional 59 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 valued at $179,000 after buying an additional 129 shares during the last quarter. Finally, Rockefeller Financial Services Inc. bought a new stake in shares of Panera Bread during the second quarter valued at approximately $196,000. Institutional investors and hedge funds own 96.57% of the company’s stock.
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.