Panera Bread Co. (PNRA) Stock Rating Reaffirmed by Wedbush
Wedbush reiterated their outperform rating on shares of Panera Bread Co. (NASDAQ:PNRA) in a research note published on Saturday. The brokerage currently has a $220.00 target price on the stock, down from their prior target price of $250.00.
A number of other equities analysts also recently commented on the stock. Maxim Group lifted their price objective on shares of Panera Bread from $230.00 to $250.00 and gave the stock a buy rating in a report on Thursday, September 29th. Vetr upgraded Panera Bread from a hold rating to a buy rating in a research note on Tuesday, August 30th. Robert W. Baird reiterated an outperform rating on shares of Panera Bread in a research note on Thursday, September 8th. Piper Jaffray Cos. reiterated an overweight rating and issued a $237.00 target price on shares of Panera Bread in a research note on Tuesday, July 12th. Finally, RBC Capital Markets began coverage on Panera Bread in a research note on Wednesday, July 20th. They issued an outperform rating and a $250.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $229.59.
Shares of Panera Bread (NASDAQ:PNRA) traded up 0.26% during midday trading on Friday, reaching $191.31. 383,860 shares of the company were exchanged. The firm’s 50 day moving average is $201.57 and its 200-day moving average is $210.58. Panera Bread has a 52-week low of $165.17 and a 52-week high of $224.15. The company has a market capitalization of $4.51 billion, a PE ratio of 32.38 and a beta of 0.66.
Panera Bread (NASDAQ:PNRA) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.04. The firm earned $698.90 million during the quarter, compared to the consensus estimate of $696.46 million. Panera Bread had a net margin of 5.30% and a return on equity of 34.45%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 earnings per share. On average, equities analysts forecast that Panera Bread will post $6.69 earnings per share for the current fiscal year.
In related news, SVP Scott G. Blair sold 198 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $219.92, for a total value of $43,544.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark D. Wooldridge sold 164 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $222.18, for a total value of $36,437.52. Following the completion of the sale, the insider now directly 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 corporate insiders.
Several large investors have recently made changes to their positions in the stock. Calvert Investment Management Inc. boosted its stake in shares of Panera Bread by 0.4% in the second quarter. Calvert Investment Management Inc. now owns 1,411 shares of the company’s stock valued at $299,000 after buying an additional 5 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in Panera Bread by 1.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 1,822 shares of the company’s stock valued at $386,000 after buying an additional 22 shares during the period. M&T Bank Corp raised its stake in Panera Bread by 0.8% in the first quarter. M&T Bank Corp now owns 3,455 shares of the company’s stock valued at $708,000 after buying an additional 29 shares during the period. Krilogy Financial LLC raised its stake in 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 period. Finally, IFP Advisors Inc raised its stake in 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 period. 92.95% of the stock is 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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