Potbelly (NASDAQ:PBPB) Stock Rating Lowered by Lake Street Capital

Key Points

• Lake Street Capital has reaffirmed a Hold rating for Potbelly (NASDAQ:PBPB) and raised its price target to $17.12, indicating a potential upside from the current stock price.
• Potbelly's latest quarterly earnings report showed an EPS of $0.09, surpassing analyst estimates, with revenues of $123.71 million for the quarter.
• Institutional investors hold 72.60% of Potbelly's stock, reflecting strong interest from large organizations in its growth and performance.

Potbelly (NASDAQ:PBPB - Get Free Report) was downgraded by analysts at Lake Street Capital from a "buy" rating to a "hold" rating in a research note issued on Thursday, MarketBeat Ratings reports. They presently have a $17.12 target price on the stock, up from their previous target price of $15.00. Lake Street Capital's price objective would suggest a potential upside of 0.68% from the stock's current price.

Several other research analysts also recently commented on PBPB. Wall Street Zen downgraded Potbelly from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Craig Hallum downgraded Potbelly from a "strong-buy" rating to a "hold" rating and set a $17.12 target price on the stock. in a report on Wednesday, September 10th. Finally, Benchmark boosted their target price on Potbelly from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $17.41.

Potbelly Stock Performance

Shares of PBPB stock traded down $0.01 during trading hours on Thursday, hitting $17.01. The company had a trading volume of 382,886 shares, compared to its average volume of 420,374. Potbelly has a 12 month low of $7.27 and a 12 month high of $17.04. The firm has a market capitalization of $514.57 million, a price-to-earnings ratio of 48.59 and a beta of 1.50. The firm's fifty day moving average is $12.86 and its 200 day moving average is $10.98.

Potbelly (NASDAQ:PBPB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $123.71 million for 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%. On average, sell-side analysts expect that Potbelly will post 0.24 EPS for the current fiscal year.

Institutional Trading of Potbelly

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming increased its position in shares of Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company's stock valued at $66,000 after acquiring an additional 876 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Potbelly by 53.4% in the second quarter. BNP Paribas Financial Markets now owns 2,532 shares of the company's stock valued at $31,000 after acquiring an additional 881 shares during the last quarter. Tectonic Advisors LLC increased its position in shares of Potbelly by 1.2% in the second quarter. Tectonic Advisors LLC now owns 89,004 shares of the company's stock valued at $1,090,000 after acquiring an additional 1,039 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Potbelly by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 66,000 shares of the company's stock valued at $628,000 after acquiring an additional 1,662 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Potbelly by 5.7% in the first quarter. Rhumbline Advisers now owns 38,872 shares of the company's stock valued at $370,000 after acquiring an additional 2,108 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company's stock.

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.