Potbelly's (PBPB) "Hold (C)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Potbelly's stock, indicating a cautious outlook from investment analysts.
• Several analysts have recently downgraded Potbelly's stock, with target prices set around $17.12, reflecting a consensus rating of "Hold" and a target price of $17.41.
• Hedge funds have increased their holdings in Potbelly, with institutional investors now owning 72.60% of the company's stock.

Potbelly (NASDAQ:PBPB - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

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

Potbelly Price Performance

Shares of Potbelly stock opened at $17.08 on Wednesday. Potbelly has a 1 year low of $7.27 and a 1 year high of $17.10. The company has a market capitalization of $516.86 million, a P/E ratio of 48.80 and a beta of 1.52. The business has a 50 day moving average price of $14.39 and a 200 day moving average price of $11.78.

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

Hedge Funds Weigh In On Potbelly

A number of hedge funds have recently made changes to their positions in the stock. Monimus Capital Management LP boosted its holdings in shares of Potbelly by 32.6% in the 2nd quarter. Monimus Capital Management LP now owns 671,095 shares of the company's stock valued at $8,221,000 after purchasing an additional 165,151 shares during the last quarter. Next Century Growth Investors LLC boosted its holdings in shares of Potbelly by 298.3% in the 1st quarter. Next Century Growth Investors LLC now owns 618,591 shares of the company's stock valued at $5,883,000 after purchasing an additional 463,275 shares during the last quarter. Archon Capital Management LLC boosted its holdings in shares of Potbelly by 3.4% in the 2nd quarter. Archon Capital Management LLC now owns 546,417 shares of the company's stock valued at $6,694,000 after purchasing an additional 18,000 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Potbelly by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 471,237 shares of the company's stock valued at $5,773,000 after purchasing an additional 84,807 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Potbelly by 31.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 445,780 shares of the company's stock valued at $5,461,000 after purchasing an additional 107,847 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company's stock.

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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