Potbelly (NASDAQ:PBPB) Posts Quarterly Earnings Results

Potbelly (NASDAQ:PBPB) issued its earnings results on Thursday. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03, Zacks reports. The company had revenue of $119.70 million for the quarter, compared to analysts’ expectations of $119.00 million. Potbelly had a net margin of 0.76% and a return on equity of 36.44%. During the same quarter last year, the company earned $0.07 EPS.

Potbelly Stock Performance

PBPB traded up $0.37 during midday trading on Friday, reaching $7.21. The company had a trading volume of 477,596 shares, compared to its average volume of 260,890. The business has a 50-day moving average of $7.53 and a two-hundred day moving average of $9.96. The company has a market cap of $215.15 million, a P/E ratio of 60.08 and a beta of 1.16. The company has a quick ratio of 0.43, a current ratio of 0.48 and a debt-to-equity ratio of 0.37. Potbelly has a 1 year low of $6.28 and a 1 year high of $14.36.

Insider Buying and Selling

In other news, major shareholder Nierenberg Investment Manageme bought 23,394 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $6.62 per share, with a total value of $154,868.28. Following the acquisition, the insider now owns 1,561,985 shares of the company’s stock, valued at approximately $10,340,340.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 71,780 shares of company stock valued at $473,829. 9.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PBPB has been the subject of a number of recent analyst reports. Craig Hallum lowered their price target on shares of Potbelly from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday. Benchmark reiterated a “buy” rating and set a $16.00 target price on shares of Potbelly in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.