Panera Bread Stock Rating Reaffirmed by Zacks (PNRA)
Panera Bread (NASDAQ:PNRA)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Thursday. They currently have a $159.00 price objective on the stock. Zacks‘s price target would suggest a potential upside of 4.73% from the company’s current price.
Zacks’ analyst wrote, “Panera Bread posted dismal second-quarter 2014 results. Adjusted earnings of $1.74 missed the Zacks Consensus Estimate of $1.75 by 0.6%, due to lower-than-expected revenues. However, earnings remained flat year over year. Total revenue increased 7.1% year over year but missed the Zacks Consensus Estimate by 1.4% due to muted comps. The company posted sluggish comps mainly due to the Easter holiday shift to the second quarter of 2014. Increasing investments in initiatives to improve operational initiatives hurt margins in the quarter. However, these initiatives, including introduction of new menu items, increased media exposure and focus on an off-premise catering program, are expected to improve long-term growth prospects. However, a weak outlook for 2014 remains a matter of concern. We, therefore, maintain our Neutral recommendation on the stock.”
Shares of Panera Bread (NASDAQ:PNRA) traded down 3.12% during mid-day trading on Thursday, hitting $147.02. The stock had a trading volume of 845,963 shares. Panera Bread has a 52-week low of $142.41 and a 52-week high of $193.18. The stock’s 50-day moving average is $148.2 and its 200-day moving average is $164.0. The company has a market cap of $3.962 billion and a P/E ratio of 22.34.
Panera Bread (NASDAQ:PNRA) last announced its earnings results on Tuesday, July 29th. The company reported $1.82 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.75 by $0.07. The company had revenue of $631.05 million for the quarter, compared to the consensus estimate of $640.78 million. During the same quarter last year, the company posted $1.74 earnings per share. Panera Bread’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Panera Bread will post $6.74 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on PNRA. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Panera Bread in a research note on Thursday. They now have a $160.00 price target on the stock, down previously from $165.00. Separately, analysts at Barclays cut their price target on shares of Panera Bread from $174.00 to $167.00 in a research note on Wednesday. They now have an “equal weight” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Panera Bread from $184.00 to $182.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Panera Bread currently has a consensus rating of “Hold” and a consensus target price of $164.32.
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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