Panera Bread Co. (PNRA) Rating Lowered to Neutral at Wedbush
Panera Bread Co. (NASDAQ:PNRA) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday. They currently have a $220.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 3.85% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other analysts also recently issued reports on PNRA. RBC Capital Markets set a $250.00 price target on Panera Bread and gave the company a “buy” rating in a report on Friday, October 21st. Vetr downgraded Panera Bread from a “buy” rating to a “hold” rating and set a $226.25 price target for the company. in a report on Monday, August 29th. BTIG Research reiterated a “buy” rating and issued a $240.00 price target on shares of Panera Bread in a report on Wednesday, October 26th. Morgan Stanley reiterated an “overweight” rating and issued a $250.00 price target on shares of Panera Bread in a report on Thursday, October 27th. Finally, Cowen and Company set a $240.00 price target on Panera Bread and gave the company a “buy” rating in a report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. Panera Bread has an average rating of “Buy” and a consensus target price of $233.33.
Shares of Panera Bread (NASDAQ:PNRA) opened at 211.84 on Monday. The stock has a 50 day moving average price of $198.33 and a 200-day moving average price of $207.93. The firm has a market capitalization of $4.93 billion, a PE ratio of 35.22 and a beta of 0.27. Panera Bread has a 52 week low of $178.99 and a 52 week high of $224.15.
Panera Bread (NASDAQ:PNRA) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.03. Panera Bread had a return on equity of 39.44% and a net margin of 5.24%. The firm earned $684.20 million during the quarter, compared to the consensus estimate of $682.04 million. During the same period in the prior year, the firm earned $1.32 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Panera Bread will post $6.71 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This news story was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this news story on another website, it was illegally copied and republished in violation of international copyright and trademark law. The legal version of this news story can be accessed at http://www.dailypolitical.com/2016/11/30/panera-bread-co-pnra-rating-lowered-to-neutral-at-wedbush.html.
In other Panera Bread news, SVP Scott G. Blair sold 204 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $186.00, for a total value of $37,944.00. Following the transaction, the senior vice president now owns 5,752 shares of the company’s stock, valued at $1,069,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.96% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of PNRA. Scout Investments Inc. boosted its position in shares of Panera Bread by 67.9% in the third quarter. Scout Investments Inc. now owns 146,220 shares of the company’s stock worth $28,472,000 after buying an additional 59,130 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Panera Bread by 4.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 62,221 shares of the company’s stock worth $12,116,000 after buying an additional 2,900 shares in the last quarter. Credit Suisse AG boosted its position in shares of Panera Bread by 21.5% in the third quarter. Credit Suisse AG now owns 39,646 shares of the company’s stock worth $7,720,000 after buying an additional 7,011 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Panera Bread by 29.2% in the third quarter. Ameritas Investment Partners Inc. now owns 13,790 shares of the company’s stock worth $2,685,000 after buying an additional 3,115 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Panera Bread during the third quarter worth about $340,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Panera Bread Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Panera Bread Co. and related companies with MarketBeat.com's FREE daily email newsletter.