Zacks Investment Research Downgrades Potbelly (PBPB) to Hold
Potbelly (NASDAQ:PBPB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 recently commented on PBPB. Piper Jaffray Companies upgraded shares of Potbelly from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $12.00 to $17.00 in a research report on Thursday, September 28th. Robert W. Baird reiterated a “hold” rating and set a $13.00 price target on shares of Potbelly in a research report on Tuesday, September 19th. Maxim Group reiterated a “hold” rating and set a $11.00 price target on shares of Potbelly in a research report on Friday, October 6th. Finally, BidaskClub cut shares of Potbelly from a “sell” rating to a “strong sell” rating in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Potbelly has a consensus rating of “Hold” and an average target price of $14.50.
Potbelly (NASDAQ:PBPB) last issued its quarterly earnings results on Friday, November 3rd. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Potbelly had a net margin of 0.54% and a return on equity of 7.80%. The company had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $107.75 million. During the same quarter in the previous year, the company earned $0.12 EPS. Potbelly’s revenue was up 2.2% on a year-over-year basis. analysts expect that Potbelly will post 0.3 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Confluence Investment Management LLC grew its position in shares of Potbelly by 3.3% during the 4th quarter. Confluence Investment Management LLC now owns 317,351 shares of the company’s stock worth $3,903,000 after buying an additional 10,222 shares during the period. Vivaldi Asset Management LLC boosted its stake in Potbelly by 179.5% during the 3rd quarter. Vivaldi Asset Management LLC now owns 996,130 shares of the company’s stock worth $12,352,000 after acquiring an additional 639,750 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Potbelly by 28.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,251,417 shares of the company’s stock worth $15,518,000 after acquiring an additional 280,835 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Potbelly by 10.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 82,413 shares of the company’s stock worth $1,022,000 after acquiring an additional 7,795 shares during the last quarter. Finally, 1060 Capital LLC bought a new position in Potbelly during the 3rd quarter worth approximately $6,027,000. Institutional investors own 73.29% of the company’s stock.
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Potbelly Company Profile
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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