Potbelly (NASDAQ:PBPB) Sets New 1-Year High - Here's What Happened

Key Points

• Potbelly Corporation's shares reached a new 52-week high of $17.12 during trading on Monday, with a volume of 123,786 shares.
• Craig Hallum and other analysts have recently downgraded Potbelly's rating from "buy" to "hold," with a consensus price target of $17.41.
• Institutional investors own approximately 72.60% of Potbelly's stock, indicating significant institutional interest in the company.

Potbelly Corporation (NASDAQ:PBPB - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $17.12 and last traded at $17.12, with a volume of 123786 shares. The stock had previously closed at $17.11.

Analyst Ratings Changes

PBPB has been the topic of a number of recent analyst reports. Craig Hallum downgraded Potbelly from a "strong-buy" rating to a "hold" rating and set a $17.12 price target on the stock. in a research report on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Potbelly in a research report on Wednesday, October 8th. Benchmark cut Potbelly from a "buy" rating to a "hold" rating and set a $18.00 target price for the company. in a report on Friday, September 12th. Finally, Lake Street Capital cut Potbelly from a "buy" rating to a "hold" rating and increased their target price for the company from $15.00 to $17.12 in a report on Thursday, September 11th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $17.41.

Potbelly Price Performance

The firm has a market capitalization of $517.90 million, a price-to-earnings ratio of 48.90 and a beta of 1.52. The stock has a 50 day moving average price of $15.12 and a two-hundred day moving average price of $12.18.

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

Institutional Investors Weigh In On Potbelly

Large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System purchased a new position in shares of Potbelly in the 2nd quarter worth $31,000. BNP Paribas Financial Markets boosted its position in shares of Potbelly by 53.4% during the second quarter. BNP Paribas Financial Markets now owns 2,532 shares of the company's stock worth $31,000 after buying an additional 881 shares during the period. AlphaQuest LLC acquired a new position in shares of Potbelly during the first quarter worth approximately $57,000. CWM LLC boosted its position in shares of Potbelly by 224.4% during the third quarter. CWM LLC now owns 4,130 shares of the company's stock worth $70,000 after buying an additional 2,857 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in Potbelly in the second quarter worth approximately $139,000. Institutional investors and hedge funds own 72.60% of the company's stock.

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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