Panera Bread Co (PNRA) is Downgraded by Wedbush to Neutral, Lowers Price Target to $ 220

Panera Bread Co (PNRA) was Downgraded by Wedbush to ” Neutral” while Lowering the Price Target of the company shares to $ 220 from a previous price target of $220 . Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on Panera Bread Co. Panera Bread Co was Upgraded by Longbow to ” Buy” on Oct 10, 2016. Company shares were Reiterated by Maxim Group on Sep 29, 2016 to “Buy”, Firm has raised the Price Target to $ 250 from a previous price target of $230 .

On the company’s financial health, Panera Bread Co reported $1.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $1.34. The company had revenue of $684.20 million for the quarter, compared to analysts expectations of $680.11 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Panera Bread Co closed down -0.74 points or -0.34% at $217.16 with 2,13,488 shares getting traded on Friday. Post opening the session at $217.39, the shares hit an intraday low of $215.64 and an intraday high of $217.39 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Nov 10, 2016, Scott G Blair (SVP, Chief Legal/Franch. Off.) sold 204 shares at $186.00 per share price. According to the SEC, on Sep 1, 2016, Mark D. Wooldridge (Controller) sold 36 shares at $219.36 per share price. On Jun 22, 2016, William W. Moreton (Executive Vice-Chairman) sold 1,500 shares at $212.33 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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