Analysts Set Potbelly Corp (NASDAQ:PBPB) PT at $8.50

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Shares of Potbelly Corp (NASDAQ:PBPB) have earned an average rating of “Sell” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $8.50.

PBPB has been the subject of several recent research reports. Zacks Investment Research lowered Potbelly from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Maxim Group reissued a “buy” rating and set a $11.00 price target on shares of Potbelly in a report on Wednesday, May 1st.

NASDAQ:PBPB traded up $0.03 during mid-day trading on Tuesday, hitting $5.06. 138,460 shares of the company traded hands, compared to its average volume of 314,137. The company has a fifty day moving average of $5.05. Potbelly has a one year low of $4.38 and a one year high of $14.15. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.56 and a current ratio of 0.62. The company has a market cap of $121.16 million, a price-to-earnings ratio of 33.73 and a beta of 1.37.

Potbelly (NASDAQ:PBPB) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.08). Potbelly had a negative net margin of 6.01% and a positive return on equity of 3.85%. The company had revenue of $98.09 million for the quarter, compared to the consensus estimate of $100.96 million. During the same period in the prior year, the firm posted $0.03 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts expect that Potbelly will post -0.03 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Potbelly by 2.4% in the fourth quarter. BlackRock Inc. now owns 1,696,625 shares of the company’s stock worth $13,657,000 after buying an additional 39,857 shares during the period. Millennium Management LLC boosted its position in shares of Potbelly by 97.1% in the 4th quarter. Millennium Management LLC now owns 629,545 shares of the company’s stock worth $5,068,000 after purchasing an additional 310,119 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in shares of Potbelly by 15.7% in the 1st quarter. Kennedy Capital Management Inc. now owns 618,248 shares of the company’s stock worth $5,261,000 after purchasing an additional 84,093 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Potbelly by 23.8% in the 1st quarter. Confluence Investment Management LLC now owns 454,793 shares of the company’s stock worth $3,871,000 after purchasing an additional 87,478 shares in the last quarter. Finally, Nicholas Company Inc. boosted its position in shares of Potbelly by 16.5% in the 4th quarter. Nicholas Company Inc. now owns 374,770 shares of the company’s stock worth $3,016,000 after purchasing an additional 53,130 shares in the last quarter. 72.03% of the stock is owned by institutional investors and hedge funds.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.

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