Panera Bread Co. (NASDAQ:PNRA) Receives $228.83 Consensus PT from Brokerages
Panera Bread Co. (NASDAQ:PNRA) has earned an average recommendation of “Buy” from the twenty-eight ratings firms that are currently covering the firm. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $228.83.
A number of equities analysts have recently weighed in on PNRA shares. Cowen and Company set a $240.00 price objective on Panera Bread and gave the stock a “buy” rating in a research note on Wednesday, July 27th. BTIG Research set a $240.00 price objective on Panera Bread and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Vetr lowered Panera Bread from a “strong-buy” rating to a “buy” rating and set a $225.00 price objective for the company. in a research note on Tuesday, July 26th. Maxim Group reaffirmed a “buy” rating and issued a $230.00 price objective (down previously from $238.00) on shares of Panera Bread in a research note on Monday, July 18th. Finally, Canaccord Genuity started coverage on Panera Bread in a research note on Monday, August 22nd. They issued a “buy” rating and a $255.00 price objective for the company.
Panera Bread (NASDAQ:PNRA) opened at 192.20 on Monday. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 32.53 and a beta of 0.66. Panera Bread has a 52-week low of $165.17 and a 52-week high of $224.15. The company’s 50-day moving average price is $206.95 and its 200 day moving average price is $211.42.
Panera Bread (NASDAQ:PNRA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 earned $698.90 million during the quarter, compared to analyst estimates of $696.46 million. During the same quarter in the previous year, the company posted $1.61 earnings per share. Panera Bread’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts expect that Panera Bread will post $6.69 EPS for the current fiscal year.
In other Panera Bread news, 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott G. Blair sold 198 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $219.92, for a total value of $43,544.16. The disclosure for this sale can be found here. Company insiders own 6.96% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. 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 during 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 during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Panera Bread during the first quarter worth $177,000. 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 during the last quarter. Finally, Rockefeller Financial Services Inc. acquired a new stake in Panera Bread during the second quarter worth $196,000. 92.95% of the stock is currently owned by institutional investors and hedge funds.
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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