BidaskClub Lowers Potbelly (PBPB) to Strong Sell

BidaskClub lowered shares of Potbelly (NASDAQ:PBPB) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

Several other brokerages have also recently commented on PBPB. ValuEngine upgraded shares of Potbelly from a hold rating to a buy rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded shares of Potbelly from a sell rating to a hold rating in a research note on Saturday, August 11th. Maxim Group upgraded shares of Potbelly from a hold rating to a buy rating and lifted their price objective for the company from $13.00 to $15.00 in a research note on Wednesday, October 10th. Finally, TheStreet cut shares of Potbelly from a c rating to a d+ rating in a research note on Monday, November 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $14.00.

PBPB stock opened at $9.47 on Friday. The company has a market capitalization of $252.92 million, a P/E ratio of 30.55, a P/E/G ratio of 2.02 and a beta of 0.74. Potbelly has a 52 week low of $9.25 and a 52 week high of $14.15.

Potbelly (NASDAQ:PBPB) last released its earnings results on Friday, November 9th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Potbelly had a positive return on equity of 7.35% and a negative net margin of 2.72%. The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $109.82 million. During the same quarter last year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that Potbelly will post 0.29 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP lifted its stake in Potbelly by 21.0% during the 2nd quarter. First Trust Advisors LP now owns 27,106 shares of the company’s stock valued at $351,000 after acquiring an additional 4,711 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Potbelly by 9.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 115,800 shares of the company’s stock valued at $1,500,000 after purchasing an additional 9,647 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Potbelly by 15.8% in the 3rd quarter. Wells Fargo & Company MN now owns 76,937 shares of the company’s stock valued at $947,000 after purchasing an additional 10,494 shares during the period. Blair William & Co. IL lifted its stake in shares of Potbelly by 3.2% in the 3rd quarter. Blair William & Co. IL now owns 355,414 shares of the company’s stock valued at $4,372,000 after purchasing an additional 11,127 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Potbelly in the 3rd quarter valued at $137,000. Institutional investors and hedge funds own 76.23% 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. It offers toasty warm sandwiches, salads, and other items. As of November 9, 2018, 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.

Further Reading: Dow Jones Industrial Average (DJIA)

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