Zacks Investment Research upgraded shares of Potbelly (NASDAQ:PBPB) from a sell rating to a hold rating in a report released on Tuesday morning.

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. “

Several other analysts also recently weighed in on PBPB. ValuEngine upgraded shares of Potbelly from a hold rating to a buy rating in a research report on Friday, October 12th. BidaskClub upgraded shares of Potbelly from a strong sell rating to a sell rating in a research report on Friday, October 12th. Maxim Group upgraded shares of Potbelly from a hold rating to a buy rating and upped their price target for the company from $13.00 to $15.00 in a research report on Wednesday, October 10th. Finally, TheStreet downgraded shares of Potbelly from a c rating to a d+ rating in a research report on Monday, November 12th. Two equities research 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. The stock currently has a consensus rating of Hold and an average target price of $14.00.

Shares of PBPB stock traded up $0.01 during trading on Tuesday, reaching $8.51. The company’s stock had a trading volume of 3,518 shares, compared to its average volume of 272,214. The stock has a market capitalization of $211.68 million, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98. Potbelly has a 1-year low of $7.71 and a 1-year high of $14.15.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings results on Friday, November 9th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Potbelly had a positive return on equity of 7.35% and a negative net margin of 2.72%. The firm had revenue of $107.00 million for the quarter, compared to analyst estimates of $109.82 million. During the same quarter last year, the firm earned $0.07 EPS. The company’s revenue was up .8% on a year-over-year basis. Equities analysts forecast that Potbelly will post 0.26 earnings per share for the current fiscal year.

In other Potbelly news, SVP Matthew J. Revord sold 18,200 shares of the company’s stock in a transaction on Friday, January 4th. The shares were sold at an average price of $8.15, for a total transaction of $148,330.00. Following the completion of the transaction, the senior vice president now owns 18,010 shares in the company, valued at approximately $146,781.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 21,800 shares of company stock valued at $177,670. 10.20% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in PBPB. Schwab Charles Investment Management Inc. grew its stake in shares of Potbelly by 9.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 115,800 shares of the company’s stock worth $1,500,000 after purchasing an additional 9,647 shares during the period. Putnam Investments LLC boosted its stake in shares of 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. Macquarie Group Ltd. boosted its stake in shares of Potbelly by 138.6% during the 2nd quarter. Macquarie Group Ltd. now owns 28,605 shares of the company’s stock worth $370,000 after purchasing an additional 16,614 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Potbelly during the 3rd quarter worth about $389,000. Finally, Blair William & Co. IL boosted its stake in shares of Potbelly by 3.2% during the 3rd quarter. Blair William & Co. IL now owns 355,414 shares of the company’s stock worth $4,372,000 after purchasing an additional 11,127 shares during the last quarter. Institutional investors own 76.11% 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 November 9, 2018, 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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