Potbelly (PBPB) Stock Rating Lowered by Zacks Investment Research

Potbelly (NASDAQ:PBPB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

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 topic of a number of other research reports. Maxim Group reissued a “hold” rating and set a $11.00 target price on shares of Potbelly in a research report on Friday, November 3rd. Robert W. Baird reissued a “hold” rating and set a $13.00 target price on shares of Potbelly in a research report on Friday, October 20th. BidaskClub downgraded shares of Potbelly from a “sell” rating to a “strong sell” rating in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies raised shares of Potbelly from a “neutral” rating to an “overweight” rating and raised their target price for the company from $12.00 to $17.00 in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.25.

Potbelly (NASDAQ:PBPB) opened at $13.05 on Friday. The company has a market cap of $321.21, a PE ratio of 145.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.93. Potbelly has a 12-month low of $10.50 and a 12-month high of $14.28.

Potbelly (NASDAQ:PBPB) last posted its earnings results on Friday, November 3rd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $106.10 million for the quarter, compared to the consensus estimate of $107.75 million. Potbelly had a net margin of 0.54% and a return on equity of 7.80%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. analysts anticipate that Potbelly will post 0.3 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Potbelly by 28.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,251,417 shares of the company’s stock valued at $15,518,000 after buying an additional 280,835 shares in the last quarter. Vivaldi Asset Management LLC boosted its holdings in shares of Potbelly by 179.5% in the 3rd quarter. Vivaldi Asset Management LLC now owns 996,130 shares of the company’s stock valued at $12,352,000 after buying an additional 639,750 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Potbelly by 17.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 778,452 shares of the company’s stock valued at $9,653,000 after buying an additional 116,582 shares in the last quarter. 1060 Capital LLC bought a new stake in shares of Potbelly in the 3rd quarter valued at about $6,027,000. Finally, State Street Corp boosted its holdings in shares of Potbelly by 9.4% in the 2nd quarter. State Street Corp now owns 452,794 shares of the company’s stock valued at $5,211,000 after buying an additional 39,033 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

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About Potbelly

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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