Panera Bread Co. (PNRA) Upgraded to “Buy” by Longbow Research
Panera Bread Co. (NASDAQ:PNRA) was upgraded by equities researchers at Longbow Research from a “neutral” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $239.00 price target on the stock. Longbow Research’s target price points to a potential upside of 26.27% from the stock’s previous close.
Several other brokerages have also issued reports on PNRA. Royal Bank Of Canada initiated coverage on Panera Bread in a research note on Wednesday, July 20th. They issued an “outperform” rating and a $250.00 price target on the stock. Vetr raised Panera Bread from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Robert W. Baird reissued an “outperform” rating on shares of Panera Bread in a research note on Thursday, September 8th. BTIG Research set a $240.00 price target on Panera Bread and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $210.00 price target (up from $205.00) on shares of Panera Bread in a research note on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $230.89.
Shares of Panera Bread (NASDAQ:PNRA) traded up 1.82% during trading on Monday, hitting $192.73. 692,553 shares of the stock traded hands. The company has a 50-day moving average of $205.36 and a 200-day moving average of $211.13. Panera Bread has a 52 week low of $165.17 and a 52 week high of $224.15. The firm has a market cap of $4.54 billion, a P/E ratio of 32.62 and a beta of 0.66.
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 https://www.americanbankingnews.com/2016/10/10/panera-bread-co-pnra-upgraded-to-buy-by-longbow-research.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 the Thomson Reuters’ consensus estimate of $1.74 by $0.04. The company had revenue of $698.90 million for 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%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 earnings per share. On average, analysts forecast that Panera Bread will post $6.69 EPS for the current fiscal year.
In related news, insider Mark D. Wooldridge sold 164 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $222.18, for a total transaction of $36,437.52. Following the transaction, the insider now directly owns 1,461 shares of the company’s stock, valued at approximately $324,604.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Scott G. Blair sold 202 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $217.95, for a total value of $44,025.90. The disclosure for this sale can be found here. Corporate insiders own 6.96% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Krilogy Financial LLC boosted its position in shares of 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 boosted 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 worth $141,000 after buying an additional 24 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Panera Bread during the first quarter worth $177,000. Tower Research Capital LLC TRC boosted 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 worth $179,000 after buying an additional 129 shares in the last quarter. Finally, Rockefeller Financial Services Inc. purchased a new position in shares of Panera Bread during the second quarter worth $196,000. 92.95% of the stock is currently owned by institutional investors.
About Panera Bread
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.
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.