Panera Bread Stock Rating Reaffirmed by Zacks (PNRA)
Panera Bread (NASDAQ:PNRA)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday, AnalystRatings.NET reports. They currently have a $189.00 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 5.26% from the stock’s previous close.
Zacks‘ analyst wrote, “Panera Bread posted dismal fourth quarter 2013 results. Though up year over year, earnings of $1.83 per share missed the Zacks Consensus Estimate by 6.2% due to higher expenses. Revenues were up 15.6% year over year but fell shy of the consensus mark by 0.75% due to sluggish comps. System-wide comparable net bakery-cafe sales increased a mere 1.1%, lower than a 4.9% increase in the year-ago quarter and 1.3% in the third quarter as a result of inclement weather. Moreover, continuous decline in transactions also remains an overhang. However, introduction of new menu items, increased media exposure, focus on an off-premise catering program and faster resurgence of high-end consumers are expected to contribute to the company’s future growth. Hence, we maintain our Neutral recommendation on the stock. “
Panera Bread (NASDAQ:PNRA) traded down 0.52% on Thursday, hitting $178.62. 539,830 shares of the company’s stock traded hands. Panera Bread has a one year low of $150.33 and a one year high of $194.77. The stock’s 50-day moving average is $172.6 and its 200-day moving average is $169.3. The company has a market cap of $5.134 billion and a price-to-earnings ratio of 27.16. Panera Bread also was the target of some unusual options trading activity on Tuesday. Stock investors bought 16,916 put options on the company. This is an increase of approximately 1,270% compared to the average volume of 1,235 put options.
Panera Bread (NASDAQ:PNRA) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Panera Bread will post $7.07 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Miller Tabak cut their price target on shares of Panera Bread from $223.00 to $210.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Panera Bread from $163.00 to $174.00 in a research note on Thursday. Finally, analysts at Piper Jaffray cut their price target on shares of Panera Bread from $144.00 to $137.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Panera Bread presently has a consensus rating of “Buy” and an average price target of $179.94.
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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