Potbelly (NASDAQ:PBPB) has been given a $9.00 target price by Bank of America in a research report issued on Tuesday, February 26th. The brokerage presently has a “sell” rating on the stock. Bank of America‘s target price indicates a potential upside of 6.51% from the stock’s current price.
PBPB has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Potbelly from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Maxim Group reiterated a “buy” rating and issued a $11.00 target price (down from $12.00) on shares of Potbelly in a research note on Tuesday, February 26th. TheStreet cut Potbelly from a “c” rating to a “d+” rating in a research note on Monday, November 12th. BidaskClub cut Potbelly from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 1st. Finally, ValuEngine cut shares of Potbelly from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Potbelly currently has a consensus rating of “Hold” and a consensus price target of $9.92.
Shares of NASDAQ:PBPB traded up $0.04 during midday trading on Tuesday, reaching $8.45. The company’s stock had a trading volume of 163,918 shares, compared to its average volume of 253,043. The firm has a market capitalization of $204.03 million, a P/E ratio of 29.14, a PEG ratio of 2.01 and a beta of 1.03. Potbelly has a twelve month low of $7.71 and a twelve month high of $14.15.
Potbelly (NASDAQ:PBPB) last released its quarterly earnings data on Monday, February 25th. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. The firm had revenue of $102.37 million for the quarter, compared to analyst estimates of $103.65 million. Potbelly had a negative net margin of 2.10% and a positive return on equity of 6.81%. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. Equities research analysts forecast that Potbelly will post 0.24 EPS for the current fiscal year.
In other news, SVP Matthew J. Revord sold 18,200 shares of the company’s stock in a transaction on Friday, January 4th. The stock was sold at an average price of $8.15, for a total transaction of $148,330.00. Following the transaction, the senior vice president now owns 18,010 shares of the company’s stock, valued at $146,781.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 21,800 shares of company stock worth $177,670 over the last quarter. Company insiders own 10.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PBPB. Putnam Investments LLC lifted its holdings in Potbelly by 31.2% during the 3rd quarter. Putnam Investments LLC now owns 177,690 shares of the company’s stock worth $2,186,000 after purchasing an additional 42,220 shares during the last quarter. Vanguard Group Inc raised its stake in Potbelly by 6.1% during the 3rd quarter. Vanguard Group Inc now owns 1,310,489 shares of the company’s stock worth $16,119,000 after buying an additional 75,769 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Potbelly during the 3rd quarter worth approximately $213,000. Prudential Financial Inc. acquired a new position in Potbelly during the 3rd quarter worth approximately $213,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Potbelly during the 3rd quarter worth approximately $456,000. 72.77% of the stock is currently owned by hedge funds and other institutional investors.
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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