Panera Bread Co (NASDAQ:PNRA) Receives Consensus Recommendation of “Hold” from Analysts
Panera Bread Co (NASDAQ:PNRA) has received a consensus rating of “Hold” from the twenty-five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $283.12.
A number of research firms recently issued reports on PNRA. UBS AG set a $265.00 target price on shares of Panera Bread and gave the company a “buy” rating in a research report on Tuesday, April 4th. Royal Bank Of Canada downgraded shares of Panera Bread from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $255.00 to $315.00 in a research report on Thursday, April 6th. William Blair downgraded shares of Panera Bread from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 5th. Sanford C. Bernstein restated an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies downgraded shares of Panera Bread from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 5th.
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Hedge funds have recently added to or reduced their stakes in the company. Narwhal Capital Management bought a new stake in Panera Bread during the first quarter worth approximately $404,000. Shell Asset Management Co. bought a new stake in Panera Bread during the first quarter worth approximately $570,000. Janney Montgomery Scott LLC boosted its stake in Panera Bread by 25.3% in the first quarter. Janney Montgomery Scott LLC now owns 17,526 shares of the company’s stock worth $4,590,000 after buying an additional 3,535 shares in the last quarter. Chickasaw Capital Management LLC bought a new stake in Panera Bread during the first quarter worth approximately $209,000. Finally, Retirement Systems of Alabama boosted its stake in Panera Bread by 6.4% in the first quarter. Retirement Systems of Alabama now owns 65,952 shares of the company’s stock worth $17,271,000 after buying an additional 3,958 shares in the last quarter. 96.66% of the stock is owned by institutional investors and hedge funds.
Panera Bread (NASDAQ:PNRA) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.84 by $0.01. Panera Bread had a return on equity of 59.38% and a net margin of 5.80%. The company had revenue of $727.60 million for the quarter, compared to analyst estimates of $717.36 million. During the same quarter in the previous year, the firm posted $1.56 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis.
Panera Bread Company Profile
Panera Bread Company is a food service company. The Company is a national bakery-cafe concept. As of December 27, 2016, the Company operated 2,036 own and franchise-operated bakery-cafe locations in 46 states, the District of Columbia, and Ontario, Canada. It operates through three segments: Company bakery-cafe operations, franchise operations, and fresh dough and other product operations.
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