Panera Bread Co (NASDAQ:PNRA)‘s stock had its “outperform” rating restated by Cowen and Company in a research report issued to clients and investors on Friday. They currently have a $270.00 price target on the stock, up from their previous price target of $265.00. Cowen and Company’s price objective indicates a potential upside of 13.16% from the company’s current price.
Several other research analysts have also recently commented on PNRA. Maxim Group reissued a “buy” rating on shares of Panera Bread in a research report on Wednesday, March 15th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $240.00 price target on shares of Panera Bread in a research report on Tuesday, February 7th. Barclays PLC reduced their price target on Panera Bread from $268.00 to $264.00 and set an “overweight” rating for the company in a research report on Wednesday, February 8th. Canaccord Genuity reissued a “buy” rating and set a $255.00 price target on shares of Panera Bread in a research report on Wednesday, February 8th. Finally, Jefferies Group LLC increased their price target on Panera Bread from $245.00 to $267.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $244.70.
Shares of Panera Bread (NASDAQ:PNRA) opened at 238.61 on Friday. The stock’s 50 day moving average price is $227.62 and its 200-day moving average price is $210.45. The company has a market capitalization of $5.40 billion, a PE ratio of 38.61 and a beta of 0.31. Panera Bread has a 52-week low of $185.69 and a 52-week high of $239.76.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. Panera Bread had a return on equity of 42.93% and a net margin of 5.21%. The firm earned $727.11 million during the quarter, compared to analysts’ expectations of $727.75 million. During the same period in the prior year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that Panera Bread will post $7.69 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Flinton Capital Management LLC purchased a new position in shares of Panera Bread during the fourth quarter worth $144,000. IFP Advisors Inc raised its position in shares of Panera Bread by 8.6% in the second quarter. IFP Advisors Inc now owns 745 shares of the company’s stock worth $158,000 after buying an additional 59 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Panera Bread by 10.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 994 shares of the company’s stock worth $211,000 after buying an additional 94 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Panera Bread during the fourth quarter worth $208,000. Finally, Credit Agricole S A raised its position in shares of Panera Bread by 10.9% in the fourth quarter. Credit Agricole S A now owns 1,028 shares of the company’s stock worth $211,000 after buying an additional 101 shares during the period. Institutional investors own 93.32% of the company’s stock.
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.
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