Zacks Investment Research upgraded shares of Potbelly (NASDAQ:PBPB) from a sell rating to a hold rating in a report released on Thursday 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. “
A number of other research firms also recently commented on PBPB. Maxim Group reaffirmed a hold rating and set a $13.00 price objective (up previously from $12.00) on shares of Potbelly in a research note on Monday, December 4th. BidaskClub downgraded shares of Potbelly from a sell rating to a strong sell rating in a research note on Friday, December 22nd. Robert W. Baird reaffirmed a hold rating and set a $13.00 price objective on shares of Potbelly in a research note on Friday, October 20th. Finally, Piper Jaffray Companies raised shares of Potbelly from a neutral rating to an overweight rating and upped their price objective for the company from $12.00 to $17.00 in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Potbelly currently has a consensus rating of Hold and an average price target of $14.33.
Potbelly (NASDAQ:PBPB) last posted its quarterly earnings data on Friday, November 3rd. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Potbelly had a net margin of 0.54% and a return on equity of 7.80%. The company had revenue of $106.10 million during the quarter, compared to the consensus estimate of $107.75 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts expect that Potbelly will post 0.3 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of PBPB. Highland Private Wealth Management acquired a new stake in Potbelly during the 2nd quarter worth approximately $146,000. Engine Capital Management LLC acquired a new stake in Potbelly during the 2nd quarter worth approximately $154,000. Voya Investment Management LLC increased its position in Potbelly by 19.6% during the 2nd quarter. Voya Investment Management LLC now owns 14,546 shares of the company’s stock worth $167,000 after purchasing an additional 2,382 shares in the last quarter. Osborn Williams & Donohoe LLC acquired a new stake in Potbelly during the 3rd quarter worth approximately $186,000. Finally, First Trust Advisors LP acquired a new stake in Potbelly during the 3rd quarter worth approximately $231,000. 73.29% of the stock is owned by hedge funds and other institutional investors.
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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