Panera Bread Co (PNRA) is Downgraded by Stifel to Sell, Price Target at $175

Panera Bread Co (PNRA) was Downgraded by Stifel to ” Sell” and the brokerage firm has set the Price Target at $175. Earlier the firm had a rating of “Hold ” on the company shares. Stifel advised their investors in a research report released on Jul 26, 2016.

Many Wall Street Analysts have commented on Panera Bread Co. RBC Capital Mkts Initiated Panera Bread Co on Jul 20, 2016 to “Outperform”, Price Target of the shares are set at $250.Shares were Reiterated by Maxim Group on Jul 18, 2016 to “Buy” and Lowered the Price Target to $ 230 from a previous price target of $238 .Company shares were Reiterated by Telsey Advisory Group on May 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 250 from a previous price target of $225 .

On the company’s financial health, Panera Bread Co reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.50. The company had revenue of $685.15 million for the quarter, compared to analysts expectations of $673.73 million. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS.

Panera Bread Co opened for trading at $210.85 and hit $213 on the upside on Wednesday, eventually ending the session at $210.04, with a gain of 1.62% or 3.34 points. The heightened volatility saw the trading volume jump to 6,51,312 shares. Company has a market cap of $5,018 M.

In a different news, on Jun 22, 2016, William W. Moreton (Executive Vice-Chairman) sold 1,500 shares at $212.33 per share price. According to the SEC, on Jun 2, 2016, William Henry Jr. Simpson (SVP, Chief Development Officer) sold 650 shares at $218.74 per share price. On May 26, 2016, Kenneth M Koziol (Executive Vice President) sold 307 shares at $213.92 per share price, according to the Form-4 filing with the securities and exchange commission.

Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with 1880 Company-owned and franchise-operated bakery-cafe locations in 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. As of December 30 2014 its Company bakery-cafe operations segment consisted of 925 Company-owned bakery-cafes and its franchise operations segment consisted of 955 franchise-operated bakery-cafes located throughout the United States and in Ontario Canada. As of December 30 2014 its fresh dough and other product operations segment which supplies fresh dough and other products daily to the Company-owned and franchise-operated bakery-cafes consisted of 24 fresh dough facilities (22 Company-owned and two franchise-operated) located throughout the United States and one in Ontario Canada.

Panera Bread Co

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Panera Bread Co - Is it time to Sell?

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