Potbelly Corporation (NASDAQ:PBPB) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts have given Potbelly Corporation (NASDAQ:PBPB) an average recommendation of "Hold", with a target price of approximately $17.41.
• Institutional investors own 72.60% of Potbelly's stock, with notable increases in holdings from firms such as Bank of America and GAMMA Investing.
• Potbelly reported $123.71 million in revenue for its latest quarter, exceeding expectations, alongside an earnings per share (EPS) of $0.09.

Shares of Potbelly Corporation (NASDAQ:PBPB - Get Free Report) have earned an average recommendation of "Hold" from the five analysts that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.4133.

A number of equities analysts have recently issued reports on the stock. Benchmark lowered shares of Potbelly from a "buy" rating to a "hold" rating and set a $18.00 target price on the stock. in a research report on Friday, September 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Potbelly in a research report on Saturday, September 27th. Craig Hallum lowered shares of Potbelly from a "strong-buy" rating to a "hold" rating and set a $17.12 price objective on the stock. in a research report on Wednesday, September 10th. Finally, Lake Street Capital lowered shares of Potbelly from a "buy" rating to a "hold" rating and lifted their price objective for the company from $15.00 to $17.12 in a research report on Thursday, September 11th.

Institutional Investors Weigh In On Potbelly

A number of hedge funds and other institutional investors have recently bought and sold shares of PBPB. Bank of America Corp DE lifted its holdings in Potbelly by 10.5% in the fourth quarter. Bank of America Corp DE now owns 25,491 shares of the company's stock valued at $240,000 after acquiring an additional 2,418 shares during the period. GAMMA Investing LLC lifted its holdings in Potbelly by 2,637.9% in the first quarter. GAMMA Investing LLC now owns 7,009 shares of the company's stock valued at $737,000 after acquiring an additional 6,753 shares during the period. Rhumbline Advisers lifted its holdings in 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 period. Oppenheimer Asset Management Inc. lifted its holdings in Potbelly by 27.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 20,945 shares of the company's stock valued at $199,000 after acquiring an additional 4,473 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in 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 period. Institutional investors and hedge funds own 72.60% of the company's stock.

Potbelly Stock Performance

Shares of PBPB stock traded up $0.04 on Friday, hitting $17.08. 500,951 shares of the stock traded hands, compared to its average volume of 2,077,315. The firm's 50-day moving average price is $14.09 and its two-hundred day moving average price is $11.62. Potbelly has a twelve month low of $7.27 and a twelve month high of $17.08. The stock has a market capitalization of $516.84 million, a PE ratio of 48.80 and a beta of 1.52.

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

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.

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