Potbelly (PBPB) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Potbelly (NASDAQ:PBPB) from a hold rating to a buy rating in a research note published on Friday morning.

Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded Potbelly from a strong sell rating to a sell rating in a research note on Friday. Zacks Investment Research upgraded Potbelly from a sell rating to a hold rating in a research note on Saturday, August 11th. Finally, Maxim Group upgraded Potbelly from a hold rating to a buy rating and lifted their price objective for the company from $13.00 to $15.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Potbelly presently has a consensus rating of Hold and an average price target of $13.67.

Shares of PBPB traded up $0.63 during midday trading on Friday, hitting $13.12. The company had a trading volume of 399,542 shares, compared to its average volume of 174,389. The stock has a market capitalization of $313.13 million, a PE ratio of 42.32, a PEG ratio of 1.91 and a beta of 0.82. Potbelly has a 1 year low of $11.05 and a 1 year high of $14.15.

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

Several institutional investors and hedge funds have recently made changes to their positions in PBPB. Stephens Investment Management Group LLC raised its position in shares of Potbelly by 36.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 900,709 shares of the company’s stock worth $11,844,000 after acquiring an additional 242,123 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Potbelly during the 2nd quarter worth about $2,044,000. Renaissance Technologies LLC raised its position in shares of Potbelly by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,128,300 shares of the company’s stock worth $27,561,000 after acquiring an additional 133,900 shares in the last quarter. Putnam Investments LLC raised its position in shares of Potbelly by 698.3% during the 2nd quarter. Putnam Investments LLC now owns 135,470 shares of the company’s stock worth $1,754,000 after acquiring an additional 118,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Potbelly by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,425,100 shares of the company’s stock worth $18,455,000 after acquiring an additional 42,671 shares in the last quarter. Institutional investors and hedge funds own 71.92% of the company’s stock.

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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