Zacks Investment Research upgraded shares of Potbelly Corporation (NASDAQ:PBPB) from a sell rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Potbelly Corporation is a neighborhood sandwich concept. The Company manages establishments for consuming food on premises to offers sandwiches, salads, soups, chili, chips, cookies, ice cream, and smoothies. It serves customers throughout the United States. Potbelly Corporation is headquartered in Chicago, Illinois. “
PBPB has been the subject of a number of other research reports. William Blair lowered Potbelly Corporation from an outperform rating to a market perform rating in a research note on Wednesday, May 3rd. TheStreet lowered Potbelly Corporation from a b- rating to a c rating in a research note on Monday, June 19th. Finally, Maxim Group upgraded Potbelly Corporation from a hold rating to a buy rating and set a $13.00 target price for the company in a research note on Wednesday, May 31st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Potbelly Corporation currently has a consensus rating of Hold and an average price target of $14.00.
Shares of Potbelly Corporation (NASDAQ PBPB) traded down 0.82% during trading on Wednesday, hitting $12.10. The stock had a trading volume of 114,570 shares. Potbelly Corporation has a one year low of $10.50 and a one year high of $14.55. The company has a market cap of $303.04 million, a P/E ratio of 40.20 and a beta of 0.91. The stock’s 50-day moving average price is $11.36 and its 200-day moving average price is $12.80.
Potbelly Corporation (NASDAQ:PBPB) last posted its earnings results on Tuesday, May 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Potbelly Corporation had a return on equity of 9.73% and a net margin of 1.89%. The business had revenue of $101.70 million during the quarter, compared to analyst estimates of $102.78 million. On average, equities research analysts forecast that Potbelly Corporation will post $0.37 EPS for the current fiscal year.
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In related news, Director Peter A. Bassi bought 8,650 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average cost of $11.47 per share, for a total transaction of $99,215.50. Following the acquisition, the director now directly owns 19,287 shares of the company’s stock, valued at approximately $221,221.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.60% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. HighTower Advisors LLC bought a new position in shares of Potbelly Corporation during the first quarter worth about $150,000. Russell Investments Group Ltd. bought a new position in shares of Potbelly Corporation during the fourth quarter worth about $146,000. Dubuque Bank & Trust Co. acquired a new position in shares of Potbelly Corporation during the first quarter worth $168,000. Karp Capital Management Corp acquired a new position in shares of Potbelly Corporation during the first quarter worth $191,000. Finally, American International Group Inc. increased its position in shares of Potbelly Corporation by 7.2% in the first quarter. American International Group Inc. now owns 14,685 shares of the company’s stock worth $204,000 after buying an additional 983 shares in the last quarter. Institutional investors and hedge funds own 73.86% of the company’s stock.
About Potbelly Corporation
Potbelly Corporation owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. As of December 25, 2016, the Company operated Potbelly Sandwich Works sandwich shops in 29 states and the District of Columbia.
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