Potbelly Corporation (NASDAQ:PBPB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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. “

Several other equities research analysts have also issued reports on the stock. BidaskClub upgraded shares of Potbelly Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Maxim Group decreased their price target on shares of Potbelly Corporation from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, August 4th. Finally, TheStreet lowered shares of Potbelly Corporation from a “b-” rating to a “c” rating in a research note on Monday, June 19th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Shares of Potbelly Corporation (NASDAQ PBPB) traded up 3.13% on Friday, reaching $11.55. The company’s stock had a trading volume of 534,201 shares. Potbelly Corporation has a 1-year low of $10.50 and a 1-year high of $14.55. The company’s 50 day moving average is $11.37 and its 200-day moving average is $12.16. The stock has a market cap of $290.19 million, a PE ratio of 72.64 and a beta of 0.90.

Potbelly Corporation (NASDAQ:PBPB) last posted its earnings results on Friday, August 4th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Potbelly Corporation had a return on equity of 8.68% and a net margin of 1.03%. The firm had revenue of $108.10 million for the quarter, compared to the consensus estimate of $109.78 million. During the same period in the prior year, the business earned $0.13 EPS. Potbelly Corporation’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Potbelly Corporation will post $0.32 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Highland Private Wealth Management purchased a new position in Potbelly Corporation in the 2nd quarter valued at approximately $146,000. HighTower Advisors LLC purchased a new position in shares of Potbelly Corporation during the 1st quarter valued at $150,000. Dubuque Bank & Trust Co. grew its position in shares of Potbelly Corporation by 8.6% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 13,151 shares of the company’s stock valued at $151,000 after purchasing an additional 1,037 shares in the last quarter. Engine Capital Management LLC purchased a new position in shares of Potbelly Corporation during the 2nd quarter valued at $154,000. Finally, Voya Investment Management LLC grew its position in shares of Potbelly Corporation by 19.6% during the 2nd quarter. Voya Investment Management LLC now owns 14,546 shares of the company’s stock valued at $167,000 after purchasing an additional 2,382 shares in the last quarter. Institutional investors and hedge funds own 72.75% of the company’s stock.

About Potbelly Corporation

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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