Longbow Research upgraded shares of Panera Bread Co. (NASDAQ:PNRA) from a neutral rating to a buy rating in a report released on Monday morning. They currently have $239.00 price objective on the stock.
PNRA has been the topic of a number of other research reports. Piper Jaffray Cos. restated an overweight rating and issued a $237.00 price target on shares of Panera Bread in a report on Tuesday, July 12th. Vetr upgraded Panera Bread from a hold rating to a strong-buy rating and set a $250.00 target price on the stock in a report on Wednesday, July 20th. Maxim Group reiterated a buy rating and set a $230.00 target price (down previously from $238.00) on shares of Panera Bread in a report on Monday, July 18th. Cowen and Company set a $240.00 target price on Panera Bread and gave the company a buy rating in a report on Thursday, August 11th. Finally, Credit Suisse Group AG increased their target price on Panera Bread from $225.00 to $235.00 and gave the company an outperform rating in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the stock. Panera Bread currently has a consensus rating of Buy and a consensus target price of $230.89.
Shares of Panera Bread (NASDAQ:PNRA) opened at 190.82 on Monday. Panera Bread has a 52 week low of $165.17 and a 52 week high of $224.15. The firm has a market capitalization of $4.50 billion, a PE ratio of 32.30 and a beta of 0.66. The stock has a 50 day moving average price of $202.35 and a 200-day moving average price of $210.68.
Panera Bread (NASDAQ:PNRA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.04. The business had revenue of $698.90 million for 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 revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Equities analysts anticipate that Panera Bread will post $6.69 earnings per share for the current year.
In other news, SVP Scott G. Blair sold 306 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $221.38, for a total transaction of $67,742.28. The transaction was disclosed in a legal 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 dated Monday, August 15th. The stock was sold at an average price of $222.18, for a total transaction of $36,437.52. Following 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 currently owned by company insiders.
Several hedge funds have recently bought and sold shares of PNRA. Krilogy Financial LLC boosted 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 in the last quarter. IFP Advisors Inc boosted 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in 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 in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Panera Bread during the first quarter worth about $177,000. Finally, Rockefeller Financial Services Inc. bought a new stake in Panera Bread during the second quarter worth about $196,000. Institutional investors own 92.95% 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.
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