Potbelly (PBPB) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Potbelly (NASDAQ:PBPB) from a hold rating to a buy rating in a research note released on Thursday. The firm currently has $14.00 target price on the stock.

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 have also recently weighed in on PBPB. Maxim Group restated a hold rating and issued a $11.00 price target on shares of Potbelly in a report on Friday, October 6th. Piper Jaffray Companies upgraded Potbelly from a neutral rating to an overweight rating and upped their price target for the stock from $12.00 to $17.00 in a report on Thursday, September 28th. BidaskClub cut Potbelly from a sell rating to a strong sell rating in a research note on Friday, December 22nd. Finally, Robert W. Baird reiterated a hold rating and set a $13.00 target price on shares of Potbelly in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Potbelly currently has a consensus rating of Hold and a consensus target price of $14.25.

Potbelly (NASDAQ:PBPB) traded up $0.10 during midday trading on Thursday, reaching $13.05. The company’s stock had a trading volume of 109,517 shares, compared to its average volume of 138,486. The stock has a market cap of $321.21, a PE ratio of 145.02, a PEG ratio of 1.81 and a beta of 0.93. Potbelly has a 52-week low of $10.50 and a 52-week high of $14.28.

Potbelly (NASDAQ:PBPB) last released its quarterly earnings results on Friday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The firm had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $107.75 million. Potbelly had a return on equity of 7.80% and a net margin of 0.54%. Potbelly’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. equities analysts predict that Potbelly will post 0.3 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Potbelly by 14.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 94,126 shares of the company’s stock valued at $1,158,000 after buying an additional 11,713 shares during the last quarter. Atria Investments LLC purchased a new position in shares of Potbelly during the 4th quarter valued at approximately $136,000. Confluence Investment Management LLC boosted its stake in shares of Potbelly by 3.3% during the 4th quarter. Confluence Investment Management LLC now owns 317,351 shares of the company’s stock valued at $3,903,000 after buying an additional 10,222 shares during the last quarter. Vivaldi Asset Management LLC boosted its stake in shares of Potbelly by 179.5% during 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Potbelly by 28.9% during 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 during the last quarter. Institutional investors 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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