Vetr Inc. Lowers Panera Bread Co. (PNRA) to Hold
Panera Bread Co. (NASDAQ:PNRA) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday. They presently have a $202.50 price target on the stock. Vetr‘s target price would suggest a potential upside of 2.44% from the stock’s previous close.
Several other research firms have also commented on PNRA. BMO Capital Markets reiterated a “market perform” rating and set a $210.00 price objective (up from $205.00) on shares of Panera Bread in a research note on Thursday, July 28th. BTIG Research set a $240.00 price objective on Panera Bread and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Sanford C. Bernstein started coverage on Panera Bread in a research note on Thursday, May 26th. They set an “outperform” rating for the company. Credit Suisse Group AG boosted their price objective on Panera Bread from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Finally, Cowen and Company set a $240.00 price objective on Panera Bread and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $229.61.
Shares of Panera Bread (NASDAQ:PNRA) traded up 0.05% during midday trading on Wednesday, hitting $197.68. The company had a trading volume of 528,430 shares. The company has a 50-day moving average of $213.96 and a 200-day moving average of $212.59. The company has a market capitalization of $4.66 billion, a PE ratio of 33.46 and a beta of 0.71. Panera Bread has a 12 month low of $165.17 and a 12 month high of $224.15.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/vetr-inc-lowers-panera-bread-co-pnra-to-hold.html
Panera Bread (NASDAQ:PNRA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.04. The company earned $698.90 million during the quarter, compared to analysts’ expectations of $696.46 million. Panera Bread had a return on equity of 34.45% and a net margin of 5.30%. Panera Bread’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Analysts predict that Panera Bread will post $6.69 earnings per share for the current year.
In other Panera Bread news, insider Mark D. Wooldridge sold 164 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $222.18, for a total value of $36,437.52. Following the sale, the insider now directly owns 1,461 shares in the company, valued at $324,604.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Scott G. Blair sold 228 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $218.24, for a total value of $49,758.72. The disclosure for this sale can be found here. 6.96% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of PNRA. Krilogy Financial LLC boosted its stake in Panera Bread by 8.6% in the second quarter. Krilogy Financial LLC now owns 630 shares of the company’s stock worth $134,000 after buying an additional 50 shares in the last quarter. IFP Advisors Inc raised its position in shares of Panera Bread by 3.6% in the first quarter. IFP Advisors Inc now owns 686 shares of the company’s stock valued at $141,000 after buying an additional 24 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Panera Bread during the first quarter valued at about $177,000. Tower Research Capital LLC TRC raised its position in shares of Panera Bread by 17.9% in the second quarter. Tower Research Capital LLC TRC now owns 849 shares of the company’s stock valued at $179,000 after buying an additional 129 shares during the last quarter. Finally, Rockefeller Financial Services Inc. purchased a new position in shares of Panera Bread during the second quarter valued at about $196,000. Institutional investors own 92.95% of the company’s stock.
Panera Bread Company Profile
Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with approximately 1,970 Company-owned and franchise-operated bakery-cafe locations in over 45 states, the District of Columbia, and Ontario, Canada. The Company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Panera Bread Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Panera Bread Co. and related companies with MarketBeat.com's FREE daily email newsletter.