Maxim Group upgraded shares of Potbelly (NASDAQ:PBPB) from a hold rating to a buy rating in a research note published on Wednesday, MarketBeat.com reports. The brokerage currently has $15.00 price objective on the stock, up from their prior price objective of $13.00.
“We upgrade shares of Potbelly Corporation (PBPB) to Buy, from Hold, and raise our price target to $15, from $13, as we believe a potential top-line catalyst will be accelerated following our recent channel checks.”,” the firm’s analyst commented.
PBPB has been the subject of a number of other reports. Zacks Investment Research raised Potbelly from a sell rating to a hold rating in a report on Saturday, August 11th. ValuEngine lowered Potbelly from a buy rating to a hold rating in a report on Wednesday, September 12th. Finally, BidaskClub lowered Potbelly from a hold rating to a sell rating in a report on Saturday, September 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $13.67.
NASDAQ PBPB traded up $0.63 on Wednesday, hitting $13.12. 399,542 shares of the stock traded hands, compared to its average volume of 174,389. Potbelly has a 12 month low of $11.05 and a 12 month high of $14.15. The firm has a market cap of $313.13 million, a price-to-earnings ratio of 42.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.82.
Potbelly (NASDAQ:PBPB) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Potbelly had a positive return on equity of 6.70% and a negative net margin of 2.33%. The business had revenue of $110.35 million during the quarter, compared to analyst estimates of $112.85 million. On average, equities research analysts anticipate that Potbelly will post 0.37 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC bought a new position in shares of Potbelly in the second quarter worth $146,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Potbelly during the second quarter valued at $152,000. Granite Investment Partners LLC bought a new stake in Potbelly during the second quarter valued at $200,000. New York State Common Retirement Fund boosted its stake in Potbelly by 28.3% during the first 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 during the period. Finally, JPMorgan Chase & Co. boosted its stake in Potbelly by 410.4% during the first 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 during the period. 71.92% of the stock is 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. 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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