Potbelly (NASDAQ:PBPB) Sets New 12-Month High - What's Next?

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 reached a new 52-week high during trading on Friday . The stock 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PBPB. Craig Hallum cut shares of Potbelly from a "strong-buy" rating to a "hold" rating and set a $17.12 price target on the stock. in a report on Wednesday, September 10th. Lake Street Capital cut shares of Potbelly from a "buy" rating to a "hold" rating and boosted their price target for the company from $15.00 to $17.12 in a report on Thursday, September 11th. Finally, Benchmark cut shares of Potbelly from a "buy" rating to a "hold" rating and set a $18.00 price target on the stock. in a report on Friday, September 12th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Potbelly has a consensus rating of "Hold" and a consensus target price of $17.41.

Potbelly Stock Performance

The stock has a market cap of $515.18 million, a price-to-earnings ratio of 48.64 and a beta of 1.50. The stock's 50-day simple moving average is $13.12 and its two-hundred day simple moving average is $11.10.

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

Institutional Trading of Potbelly

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming increased its stake in 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 period. BNP Paribas Financial Markets increased its stake in 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 period. Tectonic Advisors LLC increased its stake in 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 period. Bank of New York Mellon Corp increased its stake 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. Finally, Rhumbline Advisers increased its stake 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. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.