Potbelly (PBPB) Upgraded by BidaskClub to “Sell”

Potbelly (NASDAQ:PBPB) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Potbelly from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Maxim Group raised their target price on shares of Potbelly from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, May 9th. Finally, ValuEngine raised shares of Potbelly from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Potbelly currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Shares of Potbelly stock opened at $12.88 on Friday. Potbelly has a 1 year low of $10.98 and a 1 year high of $13.75. The firm has a market cap of $324.58 million, a P/E ratio of 41.13, a price-to-earnings-growth ratio of 1.73 and a beta of 0.76.

Potbelly (NASDAQ:PBPB) last issued its earnings results on Tuesday, August 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Potbelly had a negative net margin of 2.33% and a positive return on equity of 6.70%. The firm had revenue of $110.35 million during the quarter, compared to analysts’ expectations of $112.85 million. analysts forecast that Potbelly will post 0.37 EPS for the current year.

In related news, SVP Julie Younglove-Webb sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $13.10, for a total transaction of $262,000.00. Following the sale, the senior vice president now owns 15,617 shares in the company, valued at $204,582.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PBPB. Stephens Investment Management Group LLC grew its position in Potbelly by 36.8% during the second quarter. Stephens Investment Management Group LLC now owns 900,709 shares of the company’s stock valued at $11,844,000 after buying an additional 242,123 shares during the period. Engine Capital Management LLC acquired a new stake in Potbelly during the first quarter valued at $1,071,000. Dimensional Fund Advisors LP grew its position in Potbelly by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,425,100 shares of the company’s stock valued at $18,455,000 after buying an additional 42,671 shares during the period. BlackRock Inc. grew its position in Potbelly by 2.4% during the second quarter. BlackRock Inc. now owns 1,767,630 shares of the company’s stock valued at $22,892,000 after buying an additional 42,261 shares during the period. Finally, Spark Investment Management LLC grew its position in Potbelly by 151.2% during the second quarter. Spark Investment Management LLC now owns 64,800 shares of the company’s stock valued at $839,000 after buying an additional 39,000 shares during the period. Institutional investors own 70.01% of the company’s stock.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. It offers toasty warm sandwiches, salads, and other items. As of February 23, 2018, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, the United Kingdom, Canada, and India.

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