Potbelly (NASDAQ:PBPB) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Potbelly (NASDAQ:PBPB) from a buy rating to a hold rating in a report issued on Thursday, Zacks.com reports.

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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 also recently issued reports on the company. Maxim Group lifted their price objective on Potbelly from $4.00 to $5.00 and gave the stock a hold rating in a report on Tuesday, November 5th. ValuEngine upgraded Potbelly from a hold rating to a buy rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $6.50.

PBPB traded down $0.11 during midday trading on Thursday, hitting $4.93. The company’s stock had a trading volume of 217,100 shares, compared to its average volume of 249,611. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 2.89. Potbelly has a 52-week low of $3.10 and a 52-week high of $11.18. The firm has a 50-day moving average price of $4.24 and a two-hundred day moving average price of $5.00. The firm has a market cap of $120.03 million, a P/E ratio of 17.00 and a beta of 1.19.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. Potbelly had a negative return on equity of 1.74% and a negative net margin of 6.59%. The company had revenue of $104.20 million for the quarter, compared to the consensus estimate of $103.77 million. During the same period in the previous year, the business earned $0.09 EPS. Potbelly’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities analysts expect that Potbelly will post -0.1 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Potbelly by 4.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 129,952 shares of the company’s stock worth $662,000 after purchasing an additional 5,778 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Potbelly by 2,664.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 150,123 shares of the company’s stock worth $727,000 after purchasing an additional 144,693 shares during the last quarter. 3G Capital Partners LP increased its holdings in Potbelly by 2.6% during the 2nd quarter. 3G Capital Partners LP now owns 875,130 shares of the company’s stock worth $4,454,000 after purchasing an additional 22,481 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Potbelly by 239.0% in the 2nd quarter. SG Americas Securities LLC now owns 76,403 shares of the company’s stock valued at $389,000 after acquiring an additional 53,866 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Potbelly by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 85,483 shares of the company’s stock valued at $435,000 after acquiring an additional 3,096 shares during the last quarter. Institutional investors own 60.39% 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. 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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