Potbelly (PBPB) Rating Increased to Sell at BidaskClub

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Potbelly (NASDAQ:PBPB) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other research firms have also recently commented on PBPB. ValuEngine upgraded Potbelly from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Zacks Investment Research lowered shares of Potbelly from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, Maxim Group raised shares of Potbelly from a “hold” rating to a “buy” rating and raised their price target for the company from $13.00 to $15.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $13.67.

NASDAQ:PBPB opened at $13.12 on Friday. Potbelly has a 52 week low of $11.05 and a 52 week high of $14.15. The stock has a market cap of $313.13 million, a PE ratio of 42.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.82.

Potbelly (NASDAQ:PBPB) last posted its earnings results on Tuesday, August 7th. The company reported $0.13 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.13. Potbelly had a positive return on equity of 6.70% and a negative net margin of 2.33%. The firm had revenue of $110.35 million for the quarter, compared to analysts’ expectations of $112.85 million. Analysts predict that Potbelly will post 0.37 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC purchased a new position in Potbelly in the 2nd quarter valued at about $146,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Potbelly in the 2nd quarter valued at about $152,000. Granite Investment Partners LLC purchased a new position in Potbelly in the 2nd quarter valued at about $200,000. New York State Common Retirement Fund lifted its stake in Potbelly by 28.3% in the 1st quarter. New York State Common Retirement Fund now owns 24,500 shares of the company’s stock valued at $295,000 after buying an additional 5,400 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Potbelly by 410.4% in the 1st quarter. JPMorgan Chase & Co. now owns 25,193 shares of the company’s stock valued at $304,000 after buying an additional 20,257 shares in the last quarter. 71.92% of the stock is currently owned by hedge funds and other institutional investors.

Potbelly Company Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. It offers toasty warm sandwiches, salads, and other items. As of February 23, 2018, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, the United Kingdom, Canada, and India.

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