Potbelly Corp. (PBPB) PT Raised to $16.00 at Maxim Group
Potbelly Corp. (NASDAQ:PBPB) had its target price boosted by Maxim Group from $14.00 to $16.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price suggests a potential upside of 17.65% from the stock’s current price.
Several other research firms also recently weighed in on PBPB. Robert W. Baird downgraded shares of Potbelly Corp. from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $13.00 in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Potbelly Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $14.30.
Potbelly Corp. (NASDAQ:PBPB) opened at 13.60 on Tuesday. The firm has a market capitalization of $342.57 million, a price-to-earnings ratio of 47.22 and a beta of 0.94. Potbelly Corp. has a one year low of $9.82 and a one year high of $14.99. The stock has a 50 day moving average of $13.05 and a 200 day moving average of $12.95.
Potbelly Corp. (NASDAQ:PBPB) last posted its earnings results on Tuesday, November 1st. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Potbelly Corp. had a net margin of 1.87% and a return on equity of 8.23%. The firm earned $103.80 million during the quarter, compared to the consensus estimate of $104.38 million. During the same period last year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts forecast that Potbelly Corp. will post $0.38 earnings per share for the current year.
In other news, SVP Matthew J. Revord sold 10,000 shares of Potbelly Corp. stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $12.43, for a total transaction of $124,300.00. Following the completion of the sale, the senior vice president now directly owns 10,000 shares in the company, valued at $124,300. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew J. Revord sold 20,000 shares of Potbelly Corp. stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $12.42, for a total transaction of $248,400.00. Following the sale, the senior vice president now owns 20,000 shares of the company’s stock, valued at $248,400. The disclosure for this sale can be found here. Insiders own 9.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Potbelly Corp. by 8.9% in the second quarter. Vanguard Group Inc. now owns 1,723,583 shares of the company’s stock worth $21,615,000 after buying an additional 140,269 shares during the period. Renaissance Technologies LLC increased its stake in Potbelly Corp. by 40.5% in the first quarter. Renaissance Technologies LLC now owns 1,488,200 shares of the company’s stock worth $20,254,000 after buying an additional 428,800 shares during the last quarter. BlackRock Fund Advisors increased its stake in Potbelly Corp. by 6.4% in the third quarter. BlackRock Fund Advisors now owns 660,192 shares of the company’s stock worth $8,206,000 after buying an additional 39,980 shares during the last quarter. Zuckerman Investment Group LLC increased its stake in Potbelly Corp. by 4.0% in the third quarter. Zuckerman Investment Group LLC now owns 655,933 shares of the company’s stock worth $8,153,000 after buying an additional 25,340 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Potbelly Corp. by 3.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 622,468 shares of the company’s stock worth $7,737,000 after buying an additional 18,650 shares during the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.
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Potbelly Corp. Company Profile
Potbelly Corporation is a neighborhood sandwich concept offering sandwiches, salads and other menu items. The Company owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company also has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops.
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