Potbelly (PBPB) Rating Increased to Buy at Zacks Investment Research

Potbelly (NASDAQ:PBPB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $14.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 7.28% from the stock’s previous close.

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. “

Several other equities research analysts also recently commented on PBPB. Piper Jaffray Companies raised Potbelly from a “neutral” rating to an “overweight” rating and upped their target price for the company from $12.00 to $17.00 in a report on Thursday, September 28th. Maxim Group reissued a “hold” rating and issued a $11.00 price objective on shares of Potbelly in a research note on Friday, October 6th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of Potbelly in a research note on Friday, October 20th. Finally, BidaskClub downgraded Potbelly from a “sell” rating to a “strong sell” rating in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.25.

Shares of Potbelly (NASDAQ:PBPB) traded up $0.10 during midday trading on Thursday, hitting $13.05. The stock had a trading volume of 109,517 shares, compared to its average volume of 138,486. Potbelly has a twelve month low of $10.50 and a twelve month high of $14.28. The stock has a market capitalization of $321.21, a P/E ratio of 145.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.93.

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

A number of institutional investors have recently made changes to their positions in PBPB. Vivaldi Asset Management LLC lifted its stake in Potbelly by 179.5% in the 3rd quarter. Vivaldi Asset Management LLC now owns 996,130 shares of the company’s stock worth $12,352,000 after acquiring an additional 639,750 shares in the last quarter. 1060 Capital LLC purchased a new stake in Potbelly in the 3rd quarter worth about $6,027,000. Dimensional Fund Advisors LP lifted its stake in Potbelly by 28.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,251,417 shares of the company’s stock worth $15,518,000 after acquiring an additional 280,835 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in Potbelly by 17.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 778,452 shares of the company’s stock worth $9,653,000 after acquiring an additional 116,582 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its stake in Potbelly by 713.9% in the 2nd quarter. Balyasny Asset Management LLC now owns 104,180 shares of the company’s stock worth $1,198,000 after acquiring an additional 91,380 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

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Potbelly Company Profile

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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