BidaskClub upgraded shares of Panera Bread Company (NASDAQ:PNRA) from a hold rating to a buy rating in a research note released on Saturday morning.
PNRA has been the subject of several other reports. Wedbush restated a hold rating and issued a $315.00 target price on shares of Panera Bread Company in a research note on Wednesday, April 5th. Canaccord Genuity restated a buy rating and issued a $270.00 target price on shares of Panera Bread Company in a research note on Friday, February 24th. Piper Jaffray Companies downgraded Panera Bread Company from an overweight rating to a neutral rating in a research note on Wednesday, April 5th. BTIG Research downgraded Panera Bread Company from a buy rating to a neutral rating in a research note on Thursday, April 6th. Finally, Cowen and Company reiterated an outperform rating and set a $270.00 price target (up previously from $265.00) on shares of Panera Bread Company in a research note on Friday, March 17th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $274.02.
Shares of Panera Bread Company (NASDAQ PNRA) traded up 0.04% during mid-day trading on Friday, hitting $314.57. The stock had a trading volume of 354,409 shares. The firm’s 50 day moving average price is $313.61 and its 200 day moving average price is $257.22. The company has a market cap of $7.07 billion, a P/E ratio of 47.62 and a beta of 0.20. Panera Bread Company has a 1-year low of $185.69 and a 1-year high of $316.21.
Panera Bread Company (NASDAQ:PNRA) last issued its earnings results 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. The firm had revenue of $727.60 million during the quarter, compared to analyst estimates of $717.36 million. Panera Bread Company had a net margin of 5.39% and a return on equity of 51.13%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. Analysts predict that Panera Bread Company will post $7.71 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Panera Bread Company by 13,517.9% in the first quarter. BlackRock Inc. now owns 1,758,482 shares of the company’s stock worth $460,494,000 after buying an additional 1,745,569 shares in the last quarter. Vanguard Group Inc. raised its position in Panera Bread Company by 1.8% in the first quarter. Vanguard Group Inc. now owns 1,704,149 shares of the company’s stock worth $446,266,000 after buying an additional 29,673 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Panera Bread Company during the first quarter worth approximately $167,317,000. State Street Corp raised its position in Panera Bread Company by 1.2% in the first quarter. State Street Corp now owns 583,129 shares of the company’s stock worth $152,708,000 after buying an additional 6,907 shares during the period. Finally, Capital Guardian Trust Co. raised its position in Panera Bread Company by 20.7% in the fourth quarter. Capital Guardian Trust Co. now owns 407,643 shares of the company’s stock worth $83,604,000 after buying an additional 70,016 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.
About Panera Bread Company
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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