NEW YORK (TheStreet) -- Shares of Panera Bread (PNRA) were spiking 6.65% to $207.50 in after-hours trading on Tuesday after the company reported better-than-anticipated earnings and revenue for the 2016 fiscal third quarter.

After today's market close, the St. Louis-based fast-casual chain posted adjusted earnings of $1.37 per share, surpassing analysts' estimates of $1.34 per share.

Revenue increased 3% to $684.2 million year-over-year, above Wall Street's projections of $680.5 million.

System-wide comparable store-sales rose 1.7% during the quarter. Analysts surveyed by FactSet had expected growth of 2.4%.

Full-year earnings per share are projected to be between $6.67 and $6.72, while analysts are looking for earnings of $6.68 per share.

For the fourth quarter, Panera sees earnings per diluted share between $1.96 and $2.01. Analysts are looking for earnings of $2.01 per share for the current period.

TST Recommends

More than 1.36 million of the company's shares changed hands today compared to its average 30-day volume of 577,841 shares.

(Panera is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on Panera stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, notable return on equity and increase in stock price during the past year.

The team believes its strengths outweigh the fact that the company has had sub par growth in net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PNRA

Image placeholder title