Benchmark Issues Positive Forecast for Potbelly (NASDAQ:PBPB) Stock Price

Key Points

• Benchmark has raised the price target for Potbelly (NASDAQ:PBPB) from $17.00 to $18.00, suggesting a potential upside of 56.39% based on the stock's previous close.
• Despite this positive outlook from Benchmark, Wall Street Zen downgraded Potbelly from a "buy" rating to a "hold" rating on May 16th.
• As of now, Potbelly shares are trading at $11.51, with a recent earnings report indicating an EPS of $0.09, surpassing analysts' expectations of $0.08.

Potbelly (NASDAQ:PBPB - Free Report) had its price objective hoisted by Benchmark from $17.00 to $18.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Wall Street Zen lowered Potbelly from a "buy" rating to a "hold" rating in a research report on Friday, May 16th.

Potbelly Price Performance

NASDAQ PBPB traded down $0.26 on Thursday, reaching $12.30. 102,625 shares of the company's stock traded hands, compared to its average volume of 258,712. Potbelly has a 12 month low of $7.09 and a 12 month high of $13.67. The stock has a 50-day simple moving average of $11.92 and a 200 day simple moving average of $10.84. The stock has a market cap of $372.06 million, a PE ratio of 35.13 and a beta of 1.55.

Potbelly (NASDAQ:PBPB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $123.71 million during the quarter, compared to analyst estimates of $122.65 million. Potbelly had a return on equity of 16.31% and a net margin of 2.30%. As a group, analysts anticipate that Potbelly will post 0.24 EPS for the current year.

Institutional Investors Weigh In On Potbelly

Large investors have recently made changes to their positions in the company. State of Wyoming increased its position in Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company's stock worth $66,000 after purchasing an additional 876 shares during the last quarter. Tectonic Advisors LLC increased its stake in Potbelly by 1.2% in the second quarter. Tectonic Advisors LLC now owns 89,004 shares of the company's stock worth $1,090,000 after purchasing an additional 1,039 shares during the period. Bank of New York Mellon Corp grew its position in shares of Potbelly by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 66,000 shares of the company's stock worth $628,000 after buying an additional 1,662 shares in the last quarter. Rhumbline Advisers grew its position in shares of Potbelly by 5.7% during the 1st quarter. Rhumbline Advisers now owns 38,872 shares of the company's stock worth $370,000 after buying an additional 2,108 shares in the last quarter. Finally, Boston Partners boosted its position in Potbelly by 4.1% during the first quarter. Boston Partners now owns 54,966 shares of the company's stock valued at $523,000 after purchasing an additional 2,153 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors.

Potbelly Company Profile

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.