Stock Traders Buy High Volume of Put Options on Panera Bread (PNRA)
Panera Bread (NASDAQ:PNRA) was the target of unusually large options trading activity on Tuesday. Traders bought 5,732 put options on the stock, StockRatingsNetwork.com reports. This represents an increase of approximately 706% compared to the typical volume of 711 put options.
Several analysts have recently commented on the stock. Analysts at Longbow Research downgraded shares of Panera Bread from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $138.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Panera Bread from $160.00 to $175.00 in a research note on Tuesday, April 15th. They now have an “equal weight” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Panera Bread from $185.00 to $215.00 in a research note on Monday, March 31st. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Panera Bread currently has a consensus rating of “Hold” and an average price target of $185.78.
Panera Bread (NASDAQ:PNRA) traded down 0.09% during mid-day trading on Tuesday, hitting $163.18. The stock had a trading volume of 1,314,435 shares. 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 $175.3 and a 200-day moving average of $172.7. The company has a market cap of $4.458 billion and a P/E ratio of 23.98.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.52 by $0.03. The company had revenue of $605.30 million for the quarter, compared to the consensus estimate of $598.07 million. During the same quarter last year, the company posted $1.64 earnings per share. Panera Bread’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Panera Bread will post $6.93 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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