Potbelly (NASDAQ:PBPB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

PBPB has been the topic of several other reports. Maxim Group restated a “hold” rating and set a $11.00 price objective on shares of Potbelly in a research note on Friday, November 3rd. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 target price on shares of Potbelly in a report on Friday, October 20th. BidaskClub downgraded shares of Potbelly from a “sell” rating to a “strong sell” rating in a report on Friday, December 22nd. Finally, Piper Jaffray Companies raised shares of Potbelly from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $12.00 to $17.00 in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.50.

Potbelly (NASDAQ:PBPB) opened at $13.15 on Friday. The firm has a market cap of $331.66, a PE ratio of 146.11, a PEG ratio of 1.78 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 data on Friday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $106.10 million for the quarter, compared to analyst estimates of $107.75 million. Potbelly had a net margin of 0.54% and a return on equity of 7.80%. Potbelly’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. equities research analysts forecast that Potbelly will post 0.3 EPS for the current year.

Several hedge funds have recently made changes to their positions in PBPB. Schwab Charles Investment Management Inc. boosted its holdings in shares of Potbelly by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 74,618 shares of the company’s stock worth $859,000 after buying an additional 456 shares during the period. Rhumbline Advisers boosted its holdings in shares of Potbelly by 5.8% during the 2nd quarter. Rhumbline Advisers now owns 26,741 shares of the company’s stock worth $308,000 after buying an additional 1,470 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Potbelly by 60.8% during the 2nd quarter. Prudential Financial Inc. now owns 79,100 shares of the company’s stock worth $910,000 after buying an additional 29,900 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Potbelly by 9.6% during the 2nd quarter. Wells Fargo & Company MN now owns 67,092 shares of the company’s stock worth $771,000 after buying an additional 5,869 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in shares of Potbelly by 8.4% during the 2nd quarter. Martingale Asset Management L P now owns 99,442 shares of the company’s stock worth $1,144,000 after buying an additional 7,700 shares during the period. 73.29% of the stock is owned by institutional investors and hedge funds.

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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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