Maxim Group reissued their buy rating on shares of Potbelly (NASDAQ:PBPB) in a research note released on Wednesday morning, AnalystRatings.com reports. They currently have a $11.00 target price on the stock.
“We maintain our Buy rating and $11 price target on Potbelly Corporation (PBPB) ahead of the release of 1Q19 (March) results on Tuesday, May 7 after the close.”,” Maxim Group’s analyst commented.
Several other research firms have also weighed in on PBPB. Zacks Investment Research upgraded Potbelly from a hold rating to a strong-buy rating and set a $9.75 price objective on the stock in a research note on Friday, January 25th. Bank of America set a $9.00 price objective on Potbelly and gave the company a sell rating in a research note on Tuesday, February 26th. Finally, ValuEngine lowered Potbelly from a hold rating to a sell rating in a research note on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $9.92.
PBPB traded up $0.10 on Wednesday, hitting $8.85. 103,343 shares of the stock traded hands, compared to its average volume of 165,784. Potbelly has a 52 week low of $7.71 and a 52 week high of $14.15. The firm has a market capitalization of $213.29 million, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.11 and a beta of 1.04.
Potbelly (NASDAQ:PBPB) last issued its quarterly earnings results on Monday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. Potbelly had a positive return on equity of 6.81% and a negative net margin of 2.10%. The firm had revenue of $102.37 million for the quarter, compared to analyst estimates of $103.65 million. During the same period in the previous year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, equities research analysts expect that Potbelly will post 0.24 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of Potbelly by 97.1% in the 4th quarter. Millennium Management LLC now owns 629,545 shares of the company’s stock valued at $5,068,000 after purchasing an additional 310,119 shares during the period. Vanguard Group Inc boosted its holdings in shares of Potbelly by 6.1% in the 3rd quarter. Vanguard Group Inc now owns 1,310,489 shares of the company’s stock worth $16,119,000 after acquiring an additional 75,769 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Potbelly by 16.3% in the 4th quarter. Geode Capital Management LLC now owns 306,747 shares of the company’s stock worth $2,468,000 after acquiring an additional 42,963 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Potbelly by 2.4% in the 4th quarter. BlackRock Inc. now owns 1,696,625 shares of the company’s stock worth $13,657,000 after acquiring an additional 39,857 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Potbelly by 287.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,032 shares of the company’s stock worth $49,000 after acquiring an additional 4,474 shares in the last quarter. Institutional investors own 73.24% of the company’s stock.
Potbelly Company Profile
Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.
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