Panera Bread Rating Lowered to Hold at Deutsche Bank (PNRA)
Panera Bread (NASDAQ:PNRA) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $145.00 price objective on the stock, down from their previous price objective of $185.00. Deutsche Bank’s price objective indicates a potential downside of 5.81% from the company’s current price.
The analysts wrote, “We are downgrading PNRA to Hold from Buy given: 1) weakening sales trends across multiple fronts (traffic, mix, catering) and 2) rising spend on ops investments, with an unclear payoff. These factors point to considerable margin pressure and limited earnings visibility for the next few qtrs. Our 2014E EPS moves to $7.05 from $7.62. PT to $145 from $185.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray Cos. cut their price target on shares of Panera Bread from $137.00 to $124.00 in a research note to investors on Wednesday. They now have an “underweight” rating on the stock. Separately, analysts at Barclays cut their price target on shares of Panera Bread from $175.00 to $150.00 in a research note to investors on Wednesday. They now have an “equal weight” rating on the stock. Finally, analysts at KeyCorp downgraded shares of Panera Bread from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $190.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $182.50.
Panera Bread (NASDAQ:PNRA) traded up 0.52% on Thursday, hitting $153.94. 1,056,979 shares of the company’s stock traded hands. 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 $4.478 billion and a price-to-earnings ratio of 24.05.
Panera Bread (NASDAQ:PNRA) last released its earnings data on Wednesday, October 23rd. The company reported $1.35 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $1.24 earnings per share. Panera Bread’s revenue was up 8.2% compared to the same quarter last 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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