Panera Bread Co (PNRA) Given Average Rating of “Hold” by Analysts
Panera Bread Co (NASDAQ:PNRA) has received an average rating of “Hold” from the twenty-four ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $289.88.
A number of research firms have weighed in on PNRA. Zacks Investment Research cut shares of Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. BidaskClub cut shares of Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. Finally, Canaccord Genuity lowered shares of Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Wednesday, April 26th.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Coconut Grove Bank raised its position in Panera Bread by 94.7% in the first quarter. Coconut Grove Bank now owns 555 shares of the company’s stock valued at $145,000 after buying an additional 270 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in Panera Bread during the first quarter valued at about $156,000. Krilogy Financial LLC raised its position in Panera Bread by 13.2% in the second quarter. Krilogy Financial LLC now owns 601 shares of the company’s stock valued at $189,000 after buying an additional 70 shares during the last quarter. BT Investment Management Ltd purchased a new position in Panera Bread during the second quarter valued at about $203,000. Finally, Intrust Bank NA purchased a new position in Panera Bread during the first quarter valued at about $205,000. Institutional investors and hedge funds own 96.66% of the company’s stock.
About Panera Bread
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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