Potbelly (PBPB) Rating Lowered to Hold at Zacks Investment Research

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

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. “

Other equities analysts have also issued research reports about the stock. Maxim Group restated a “hold” rating and set a $11.00 target price on shares of Potbelly in a research report on Friday, November 3rd. Piper Jaffray Companies upgraded shares of Potbelly from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $12.00 to $17.00 in a research report on Thursday, September 28th. BidaskClub lowered shares of Potbelly from a “sell” rating to a “strong sell” rating in a research report on Friday, December 22nd. Finally, Robert W. Baird restated a “hold” rating and set a $13.00 target price on shares of Potbelly in a research report on Friday, October 20th. One equities 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 stock. The stock presently has an average rating of “Hold” and an average price target of $14.25.

Potbelly (NASDAQ PBPB) opened at $13.05 on Friday. Potbelly has a 12-month low of $10.50 and a 12-month high of $14.28. The firm has a market cap of $321.21, a price-to-earnings ratio of 145.02, a P/E/G ratio of 1.81 and a beta of 0.93.

Potbelly (NASDAQ:PBPB) last issued its earnings results on Friday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $106.10 million during the quarter, compared to analyst estimates of $107.75 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. Potbelly’s revenue for the quarter was up 2.2% on a year-over-year basis. equities analysts forecast that Potbelly will post 0.3 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in PBPB. Vivaldi Asset Management LLC lifted its position in Potbelly by 179.5% during the third quarter. Vivaldi Asset Management LLC now owns 996,130 shares of the company’s stock valued at $12,352,000 after purchasing an additional 639,750 shares during the last quarter. 1060 Capital LLC bought a new position in Potbelly during the third quarter valued at $6,027,000. Dimensional Fund Advisors LP lifted its position in Potbelly by 28.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,251,417 shares of the company’s stock valued at $15,518,000 after purchasing an additional 280,835 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in Potbelly by 17.6% during the third quarter. Stephens Investment Management Group LLC now owns 778,452 shares of the company’s stock valued at $9,653,000 after purchasing an additional 116,582 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its position in Potbelly by 713.9% during the second quarter. Balyasny Asset Management LLC now owns 104,180 shares of the company’s stock valued at $1,198,000 after purchasing an additional 91,380 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

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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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