Potbelly (NASDAQ:PBPB) Stock Price Expected to Rise, Benchmark Analyst Says

Potbelly (NASDAQ:PBPB - Get Free Report) had its target price hoisted by Benchmark from $16.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's target price would indicate a potential upside of 52.81% from the stock's previous close.

Several other research firms have also recently weighed in on PBPB. William Blair reaffirmed a "market perform" rating on shares of Potbelly in a report on Thursday, March 20th. Wall Street Zen lowered Potbelly from a "buy" rating to a "hold" rating in a report on Friday, May 16th.

Potbelly Stock Up 5.6%

Shares of PBPB traded up $0.59 during trading hours on Wednesday, hitting $11.13. The stock had a trading volume of 74,786 shares, compared to its average volume of 211,565. The firm has a 50 day simple moving average of $9.55 and a 200-day simple moving average of $10.19. Potbelly has a 1-year low of $6.28 and a 1-year high of $13.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market capitalization of $335.64 million, a P/E ratio of 7.94 and a beta of 1.68.

Insider Activity at Potbelly

In other Potbelly news, major shareholder David Nierenberg acquired 22,169 shares of the business's stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $9.36 per share, with a total value of $207,501.84. Following the purchase, the insider now owns 124,167 shares of the company's stock, valued at approximately $1,162,203.12. This trade represents a 21.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.20% of the stock is currently owned by insiders.

Institutional Trading of Potbelly

Several institutional investors have recently added to or reduced their stakes in PBPB. Aquatic Capital Management LLC purchased a new stake in Potbelly during the 4th quarter valued at about $27,000. AlphaQuest LLC purchased a new position in shares of Potbelly in the first quarter worth $57,000. State of Wyoming raised its holdings 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 buying an additional 876 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Potbelly during the 4th quarter valued at $98,000. Finally, Wells Fargo & Company MN grew its holdings in Potbelly by 50.6% in the 4th quarter. Wells Fargo & Company MN now owns 12,883 shares of the company's stock worth $121,000 after acquiring an additional 4,328 shares during the last quarter. 72.60% of the stock is currently 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.

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