Panera Bread Price Target Cut to $137.00 by Analysts at Piper Jaffray (PNRA)
Equities research analysts at Piper Jaffray lowered their price objective on shares of Panera Bread (NASDAQ:PNRA) from $144.00 to $137.00 in a research note issued to investors on Wednesday, StockRatingsNetwork reports. Piper Jaffray’s price objective suggests a potential downside of 20.89% from the company’s current price.
A number of other analysts have also recently weighed in on PNRA. Analysts at Wunderlich reiterated a “buy” rating on shares of Panera Bread in a research note on Friday, February 14th. Separately, analysts at Oppenheimer raised their price target on shares of Panera Bread from $180.00 to $200.00 in a research note on Wednesday, February 12th. They now have an “outperform” rating on the stock. Finally, analysts at Longbow Research initiated coverage on shares of Panera Bread in a research note on Friday, February 7th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $178.94.
Panera Bread (NASDAQ:PNRA) opened at 173.18 on Wednesday. Panera Bread has a 52 week low of $150.33 and a 52 week high of $194.77. The stock has a 50-day moving average of $172. and a 200-day moving average of $169.. The company has a market cap of $4.978 billion and a P/E ratio of 26.96. Panera Bread also saw unusually large options trading activity on Tuesday. Traders acquired 16,916 put options on the company. This represents an increase of 1,270% compared to the average daily volume of 1,235 put options.
Panera Bread (NASDAQ:PNRA) last released its earnings data on Thursday, February 27th. The company reported $1.96 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.94 by $0.02. The company had revenue of $662.00 million for the quarter, compared to the consensus estimate of $662.63 million. On average, analysts predict that Panera Bread will post $6.66 earnings per share 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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