Potbelly (NASDAQ:PBPB) Sets New 52-Week High - Should You Buy?

Key Points

• Potbelly Corporation shares reached a new 52-week high, trading up to $17.04, with a market cap of $515.18 million.
• Several research firms downgraded Potbelly's stock from "buy" to "hold," with target prices varying from $17.12 to $18.00.
• Potbelly reported earnings of $0.09 per share, exceeding analysts' expectations of $0.08, along with a revenue of $123.71 million for the last quarter.

Potbelly Corporation (NASDAQ:PBPB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.04 and last traded at $17.03, with a volume of 169903 shares changing hands. The stock had previously closed at $17.01.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Benchmark downgraded shares of Potbelly from a "buy" rating to a "hold" rating and set a $18.00 price objective on the stock. in a research report on Friday, September 12th. Craig Hallum downgraded 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 downgraded shares of Potbelly from a "buy" rating to a "hold" rating and upped their target price for the stock from $15.00 to $17.12 in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Potbelly presently has an average rating of "Hold" and an average price target of $17.41.

Potbelly Stock Performance

The stock's 50-day moving average price is $13.29 and its two-hundred day moving average price is $11.18. The stock has a market capitalization of $515.18 million, a PE ratio of 48.64 and a beta of 1.50.

Potbelly (NASDAQ:PBPB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $122.65 million. On average, analysts predict that Potbelly Corporation will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of Potbelly

Several institutional investors have recently bought and sold shares of the company. State of Wyoming grew its position in Potbelly by 14.3% during the 4th quarter. State of Wyoming now owns 7,012 shares of the company's stock valued at $66,000 after purchasing an additional 876 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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 acquiring an additional 881 shares during the period. Tectonic Advisors LLC lifted its stake in Potbelly by 1.2% during the 2nd 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 period. Bank of New York Mellon Corp lifted its stake in Potbelly by 2.6% during the 1st 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. Finally, Rhumbline Advisers lifted its stake in Potbelly by 5.7% during the 1st 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. 72.60% of the stock is owned by hedge funds and other 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.