Potbelly (PBPB) Downgraded by ValuEngine

ValuEngine cut shares of Potbelly (NASDAQ:PBPB) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Other research analysts also recently issued research reports about the company. BidaskClub upgraded Potbelly from a strong sell rating to a sell rating in a research note on Friday, June 15th. Zacks Investment Research upgraded Potbelly from a sell rating to a hold rating in a research note on Saturday, August 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Potbelly has an average rating of Hold and a consensus target price of $14.00.

Shares of NASDAQ PBPB opened at $12.85 on Wednesday. Potbelly has a one year low of $11.05 and a one year high of $14.15. The stock has a market capitalization of $323.31 million, a price-to-earnings ratio of 40.97, a PEG ratio of 1.97 and a beta of 0.81.

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

Several large investors have recently made changes to their positions in the business. Putnam Investments LLC lifted its position in shares of Potbelly by 698.3% in the second quarter. Putnam Investments LLC now owns 135,470 shares of the company’s stock worth $1,754,000 after buying an additional 118,500 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Potbelly in the second quarter worth about $2,044,000. Macquarie Group Ltd. lifted its position in shares of Potbelly by 138.6% in the second quarter. Macquarie Group Ltd. now owns 28,605 shares of the company’s stock worth $370,000 after buying an additional 16,614 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Potbelly by 6.7% in the second quarter. Renaissance Technologies LLC now owns 2,128,300 shares of the company’s stock worth $27,561,000 after buying an additional 133,900 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Potbelly by 36.8% in the second quarter. Stephens Investment Management Group LLC now owns 900,709 shares of the company’s stock worth $11,844,000 after buying an additional 242,123 shares during the last quarter. 71.92% of the stock is owned by institutional investors.

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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