Panera Bread Co (PNRA) Given Consensus Rating of “Buy” by Brokerages
Shares of Panera Bread Co (NASDAQ:PNRA) have been given an average recommendation of “Buy” by the twenty-five analysts that are currently covering the stock. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $246.35.
A number of brokerages have recently commented on PNRA. Vetr cut shares of Panera Bread from a “strong-buy” rating to a “buy” rating and set a $243.51 price objective on the stock. in a research note on Thursday, November 24th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $240.00 price objective on shares of Panera Bread in a research note on Tuesday, February 7th. Wells Fargo & Co reaffirmed an “outperform” rating on shares of Panera Bread in a research note on Wednesday, February 8th. Royal Bank of Canada raised their price objective on shares of Panera Bread from $250.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Finally, Jefferies Group LLC raised their price objective on shares of Panera Bread from $245.00 to $267.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th.
Shares of Panera Bread (NASDAQ:PNRA) opened at 238.61 on Thursday. Panera Bread has a 1-year low of $185.69 and a 1-year high of $239.76. The stock has a market cap of $5.40 billion, a P/E ratio of 38.61 and a beta of 0.31. The company’s 50-day moving average is $227.62 and its 200-day moving average is $210.45.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings data on Tuesday, February 7th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. The business had revenue of $727.11 million for the quarter, compared to analysts’ expectations of $727.75 million. Panera Bread had a net margin of 5.21% and a return on equity of 42.93%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. Equities analysts expect that Panera Bread will post $7.69 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Panera Bread during the fourth quarter valued at about $48,169,000. WFG Advisors LP boosted its stake in shares of Panera Bread by 2,771.2% in the fourth quarter. WFG Advisors LP now owns 4,881 shares of the company’s stock valued at $251,000 after buying an additional 4,711 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Panera Bread by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,730 shares of the company’s stock valued at $765,000 after buying an additional 220 shares during the period. Castleark Management LLC boosted its stake in shares of Panera Bread by 286.2% in the fourth quarter. Castleark Management LLC now owns 117,403 shares of the company’s stock valued at $24,078,000 after buying an additional 87,006 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Panera Bread during the fourth quarter valued at about $369,000. 93.32% of the stock is currently owned by institutional investors.
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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.
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