Potbelly (NASDAQ:PBPB) Lowered to Hold Rating by Benchmark

Key Points

• Benchmark analysts have reaffirmed a "hold" rating for Potbelly (PBPB), setting a target price of $18.00, which suggests a potential upside of 5.79% from the last close.
• Several analysts have recently downgraded Potbelly's stock rating from "buy" to "hold", reflecting a consensus rating of Hold and an average price target of $17.41.
• Potbelly reported earnings of $0.09 EPS for the last quarter, surpassing expectations, with revenue slightly above analyst estimates at $123.71 million.

Potbelly (NASDAQ:PBPB - Get Free Report) was downgraded by equities researchers at Benchmark from a "buy" rating to a "hold" rating in a report released on Friday, Marketbeat.com reports. They currently have a $18.00 target price on the stock. Benchmark's target price would suggest a potential upside of 5.88% from the stock's previous close.

Several other equities analysts have also issued reports on PBPB. Craig Hallum lowered Potbelly from a "strong-buy" rating to a "hold" rating and set a $17.12 price target on the stock. in a research note on Wednesday. Wall Street Zen downgraded Potbelly from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Lake Street Capital downgraded Potbelly from a "buy" rating to a "hold" rating and boosted their price objective for the company from $15.00 to $17.12 in a report on Thursday. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.41.

Potbelly Stock Performance

Shares of PBPB opened at $17.00 on Friday. Potbelly has a 52-week low of $7.27 and a 52-week high of $17.04. The business's 50 day moving average price is $12.77 and its two-hundred day moving average price is $10.97. The firm has a market cap of $514.42 million, a PE ratio of 48.57 and a beta of 1.50.

Potbelly (NASDAQ:PBPB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $122.65 million. Research analysts predict that Potbelly will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Potbelly

Institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new stake in Potbelly during the second quarter worth $31,000. BNP Paribas Financial Markets grew its holdings in 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 in the last quarter. AlphaQuest LLC bought a new stake in Potbelly during the first quarter worth $57,000. State of Wyoming grew its holdings in Potbelly by 14.3% during the fourth quarter. State of Wyoming now owns 7,012 shares of the company's stock worth $66,000 after buying an additional 876 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in Potbelly during the fourth quarter worth $98,000. Institutional investors 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.