Potbelly (NASDAQ:PBPB) Now Covered by StockNews.com

StockNews.com started coverage on shares of Potbelly (NASDAQ:PBPB – Get Rating) in a research note issued on Saturday. The firm set a “buy” rating on the stock.

A number of other brokerages also recently weighed in on PBPB. TheStreet upgraded shares of Potbelly from a “d” rating to a “c-” rating in a report on Thursday, March 24th. Zacks Investment Research raised shares of Potbelly from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Thursday, May 12th. Finally, William Blair reissued a “market perform” rating on shares of Potbelly in a research report on Thursday, March 3rd.

Shares of NASDAQ PBPB opened at $5.32 on Friday. The firm has a market capitalization of $153.52 million, a PE ratio of -8.72 and a beta of 1.37. Potbelly has a 1 year low of $4.83 and a 1 year high of $9.07. The firm’s 50-day moving average is $6.26 and its 200-day moving average is $5.83.

Potbelly (NASDAQ:PBPB – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.07. Potbelly had a negative net margin of 4.30% and a negative return on equity of 938.53%. During the same quarter in the prior year, the company posted ($0.33) EPS. As a group, equities research analysts expect that Potbelly will post -0.06 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Archon Capital Management LLC raised its stake in Potbelly by 8.1% during the fourth quarter. Archon Capital Management LLC now owns 2,320,638 shares of the company’s stock worth $12,949,000 after acquiring an additional 174,514 shares in the last quarter. Soviero Asset Management LP boosted its holdings in shares of Potbelly by 2.4% during the 4th quarter. Soviero Asset Management LP now owns 1,280,000 shares of the company’s stock worth $7,142,000 after buying an additional 30,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Potbelly by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 999,846 shares of the company’s stock worth $6,699,000 after purchasing an additional 42,458 shares in the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Potbelly by 23.9% in the 1st quarter. Heartland Advisors Inc. now owns 545,256 shares of the company’s stock worth $3,653,000 after purchasing an additional 105,256 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Potbelly by 0.7% in the 4th quarter. BlackRock Inc. now owns 502,373 shares of the company’s stock worth $2,803,000 after purchasing an additional 3,276 shares in the last quarter. 52.78% of the stock is owned by institutional investors and hedge funds.

About Potbelly (Get Rating)

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops. As of December 26, 2021, it had 443 shops in 33 states and the District of Columbia, which included 397 shops and 46 franchisees operated shops. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002.

Read More