Panera Bread Co. (PNRA) Stock Rating Upgraded by Vetr Inc.
Panera Bread Co. (NASDAQ:PNRA) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday. The firm currently has a $226.25 price objective on the stock. Vetr‘s price objective points to a potential upside of 14.51% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on PNRA. Sanford C. Bernstein initiated coverage on Panera Bread in a research note on Thursday, May 26th. They issued an “outperform” rating on the stock. Robert W. Baird reiterated an “outperform” rating on shares of Panera Bread in a research report on Tuesday, June 28th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $237.00 price target on shares of Panera Bread in a research report on Tuesday, July 12th. Maxim Group reiterated a “buy” rating and set a $230.00 price target (down from $238.00) on shares of Panera Bread in a research report on Monday, July 18th. Finally, RBC Capital Markets initiated coverage on Panera Bread in a research report on Wednesday, July 20th. They set an “outperform” rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Panera Bread has a consensus rating of “Buy” and a consensus price target of $230.69.
Panera Bread (NASDAQ:PNRA) opened at 197.58 on Monday. Panera Bread has a one year low of $165.17 and a one year high of $224.15. The company has a 50-day moving average of $214.47 and a 200-day moving average of $212.70. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 33.44 and a beta of 0.71.
Panera Bread (NASDAQ:PNRA) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ 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 had revenue of $698.90 million for the quarter, compared to analysts’ expectations of $696.46 million. During the same period in the previous year, the business posted $1.61 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Panera Bread will post $6.69 EPS for the current fiscal year.
In other Panera Bread news, SVP Scott G. Blair sold 228 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $218.24, for a total value of $49,758.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark D. Wooldridge sold 164 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $222.18, for a total value of $36,437.52. Following the completion of the transaction, 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 company insiders.
A number of institutional investors have recently bought and sold shares of PNRA. Columbus Circle Investors increased its position in Panera Bread by 985.5% in the second quarter. Columbus Circle Investors now owns 409,650 shares of the company’s stock worth $86,821,000 after buying an additional 371,910 shares during the period. Alliancebernstein L.P. increased its position in shares of Panera Bread by 2,177.7% in the second quarter. Alliancebernstein L.P. now owns 384,637 shares of the company’s stock valued at $81,520,000 after buying an additional 367,750 shares during the last quarter. Conatus Capital Management LP bought a new position in shares of Panera Bread during the second quarter valued at $76,922,000. Bank of New York Mellon Corp increased its position in shares of Panera Bread by 75.0% in the second quarter. Bank of New York Mellon Corp now owns 721,181 shares of the company’s stock valued at $152,846,000 after buying an additional 309,133 shares during the last quarter. Finally, FMR LLC increased its position in shares of Panera Bread by 40.0% in the second quarter. FMR LLC now owns 1,003,927 shares of the company’s stock valued at $212,772,000 after buying an additional 286,619 shares during the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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