Potbelly (NASDAQ:PBPB) Trading 5.5% Higher

Potbelly Corp (NASDAQ:PBPB)’s share price traded up 5.5% during mid-day trading on Tuesday . The company traded as high as $4.23 and last traded at $4.20, 350,135 shares were traded during mid-day trading. An increase of 39% from the average session volume of 252,334 shares. The stock had previously closed at $3.98.

A number of equities research analysts recently issued reports on the stock. Maxim Group restated a “hold” rating and issued a $4.00 target price (down from $8.00) on shares of Potbelly in a report on Wednesday, July 31st. Zacks Investment Research downgraded shares of Potbelly from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Finally, ValuEngine upgraded shares of Potbelly from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has a consensus rating of “Sell” and an average target price of $7.58.

The stock’s fifty day moving average is $4.65. The company has a market cap of $95.28 million, a PE ratio of 14.48 and a beta of 1.29. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.62 and a quick ratio of 0.56.

Potbelly (NASDAQ:PBPB) last released its earnings results on Tuesday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). Potbelly had a negative net margin of 6.01% and a positive return on equity of 3.85%. The company had revenue of $98.09 million during the quarter, compared to analysts’ expectations of $100.96 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Potbelly’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Potbelly Corp will post -0.03 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Potbelly by 2.4% in the 4th quarter. BlackRock Inc. now owns 1,696,625 shares of the company’s stock valued at $13,657,000 after acquiring an additional 39,857 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Potbelly by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 82,935 shares of the company’s stock worth $668,000 after buying an additional 1,911 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Potbelly by 16.3% during the 4th quarter. Geode Capital Management LLC now owns 306,747 shares of the company’s stock worth $2,468,000 after purchasing an additional 42,963 shares during the period. Bank of America Corp DE boosted its position in shares of Potbelly by 97.1% during the 4th quarter. Bank of America Corp DE now owns 13,587 shares of the company’s stock worth $109,000 after purchasing an additional 6,695 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Potbelly by 287.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,032 shares of the company’s stock worth $49,000 after purchasing an additional 4,474 shares during the period. Hedge funds and other institutional investors own 72.40% of the company’s stock.

Potbelly Company Profile (NASDAQ:PBPB)

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, 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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