Panera Bread Downgraded by KeyCorp to “Hold” (PNRA)
Panera Bread (NASDAQ:PNRA) was downgraded by stock analysts at KeyCorp from a “buy” rating to a “hold” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $190.00 price target on the stock. KeyCorp’s price objective points to a potential upside of 24.06% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna cut their price target on shares of Panera Bread from $180.00 to $168.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Morgan Stanley reiterated a “hold” rating on shares of Panera Bread in a research note to investors on Monday. They now have a $190.00 price target on the stock. Finally, analysts at Imperial Capital reiterated a “buy” rating on shares of Panera Bread in a research note to investors on Monday. They now have a $205.00 price target on the stock, down previously from $212.00. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Panera Bread has a consensus rating of “Buy” and an average price target of $190.29.
Panera Bread (NASDAQ:PNRA) traded down 5.72% during mid-day trading on Wednesday, hitting $153.15. The stock had a trading volume of 3,437,273 shares. Panera Bread has a 52 week low of $152.64 and a 52 week high of $194.77. The stock’s 50-day moving average is $169.3 and its 200-day moving average is $176.8. The company has a market cap of $4.455 billion and a P/E ratio of 25.50.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $572.48 million for the quarter, compared to the consensus estimate of $585.52 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Panera Bread will post $6.81 EPS for the current fiscal year.
Panera Bread Company (NASDAQ:PNRA) s a national bakery-cafe concept with 1,541 Company-owned and franchise-operated bakery-cafe locations in42 states, the District of Columbia, and Ontario, Canada.
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