Potbelly (NASDAQ:PBPB) Rating Increased to Hold at Wall Street Zen

Key Points

• Potbelly has been upgraded to a "hold" rating by Wall Street Zen, with five other analysts also rating the stock as a hold and setting an average target price of $17.41.
• The company opened at $17.12 on Friday, having a market cap of $518.05 million and a P/E ratio of 48.92.
• Recent institutional investments increased, with significant stakes acquired by State of Alaska Department of Revenue and CWM LLC, indicating strong interest in Potbelly, which is 72.60% owned by institutional investors.

Potbelly (NASDAQ:PBPB - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "hold" rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Potbelly in a research note on Wednesday, October 8th. Benchmark downgraded shares of Potbelly from a "buy" rating to a "hold" rating and set a $18.00 target price on the stock. in a research note on Friday, September 12th. Lake Street Capital downgraded shares of Potbelly from a "buy" rating to a "hold" rating and raised their target price for the company from $15.00 to $17.12 in a research note on Thursday, September 11th. Finally, Craig Hallum downgraded shares of Potbelly from a "strong-buy" rating to a "hold" rating and set a $17.12 target price on the stock. in a research note on Wednesday, September 10th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.41.

Potbelly Stock Up 0.1%

NASDAQ:PBPB opened at $17.12 on Friday. The company has a market cap of $518.05 million, a P/E ratio of 48.92 and a beta of 1.52. Potbelly has a fifty-two week low of $7.27 and a fifty-two week high of $17.13. The firm's 50 day moving average is $15.57 and its two-hundred day moving average is $12.42.

Potbelly (NASDAQ:PBPB - Get Free Report) last posted its quarterly earnings results on Monday, January 9th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $101.69 million for the quarter. Potbelly had a return on equity of 16.31% and a net margin of 2.30%. Potbelly has set its Q4 2022 guidance at EPS. Research analysts forecast that Potbelly will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Potbelly

A number of large investors have recently added to or reduced their stakes in PBPB. State of Alaska Department of Revenue acquired a new stake in Potbelly during the 3rd quarter valued at $27,000. New York State Teachers Retirement System acquired a new stake in Potbelly during the 2nd quarter valued at $31,000. BNP Paribas Financial Markets grew its holdings in Potbelly by 53.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,532 shares of the company's stock valued at $31,000 after purchasing an additional 881 shares in the last quarter. AlphaQuest LLC acquired a new stake in Potbelly during the 1st quarter valued at $57,000. Finally, CWM LLC grew its holdings in Potbelly by 224.4% during the 3rd quarter. CWM LLC now owns 4,130 shares of the company's stock valued at $70,000 after purchasing an additional 2,857 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

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.

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