Schaeffer's Trading Floor Blog

Analyst Downgrades: Buffalo Wild Wings, Panera Bread Co, and United Parcel Service, Inc.

Analysts downwardly revised their ratings on BWLD, PNRA, and UPS

by 7/30/2014 9:21 AM
Stocks quoted in this article:

Analysts are weighing in today on sports bar chain Buffalo Wild Wings (NASDAQ:BWLD), fast-casual eatery Panera Bread Co (NASDAQ:PNRA), and package delivery issue United Parcel Service, Inc. (NYSE:UPS). Here's a quick roundup of today's bearish brokerage notes.

  • BWLD is set to open more than 7% lower from last night's close at $167.15, after the company issued weaker-than-expected full-year guidance last night. This morning, the stock also got hit by a pair of bearish brokerage notes, as Barclays and Wunderlich cut their respective price targets to $187 (from $190) and $170 (from $180). Taking a step back, short sellers -- as well as yesterday's put buyers -- are likely rejoicing at the pre-market sell-off, as 8.7% of Buffalo Wild Wings' float is sold short.

  • Last night, PNRA reported a second-quarter per-share profit in line with the consensus view, but fell short of the average quarterly revenue estimate and lowered its full-year guidance. This news was met with a bearish note from Barclays, which slashed its price target on Panera Bread Co to $167 from $174, and maintained its "equal weight" rating. Analysts are generally split over PNRA's prospects, with nine firms handing out "strong buy" endorsements, compared to eight "holds" and three "strong sell" recommendations. The equity closed at $146.62 yesterday.

  • Finally, UPS received reduced price targets from Baird (to $105 from $110) and Deutsche Bank (to $120 from $122), after the company missed the consensus second-quarter earnings estimate on Tuesday morning and fell 3.7% during the ensuing session. The move lower sent the shares south of the century mark for the first time since early May, and the stock is now down roughly 6% year-to-date. That said, additional price-target cuts could be on the way. United Parcel Service, Inc.'s consensus 12-month price target checks in at $110.38, or roughly 12% above the security's Tuesday finish at $98.86.

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