Zacks Investment Research cut shares of Potbelly (NASDAQ:PBPB) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

According to Zacks, “Potbelly Corporation is a neighborhood sandwich concept. The Company manages establishments for consuming food on premises to offers sandwiches, salads, soups, chili, chips, cookies, ice cream, and smoothies. It serves customers throughout the United States. Potbelly Corporation is headquartered in Chicago, Illinois. “

A number of other brokerages have also commented on PBPB. BidaskClub upgraded shares of Potbelly from a sell rating to a hold rating in a research note on Friday, August 17th. TheStreet lowered shares of Potbelly from a c rating to a d+ rating in a research note on Monday. ValuEngine upgraded shares of Potbelly from a hold rating to a buy rating in a research note on Tuesday, August 14th. Finally, Maxim Group upgraded shares of Potbelly from a hold rating to a buy rating and boosted their price target for the company from $13.00 to $15.00 in a research note on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $14.00.

PBPB stock traded down $0.01 during midday trading on Wednesday, reaching $10.69. 254,264 shares of the company’s stock traded hands, compared to its average volume of 195,876. The firm has a market capitalization of $269.09 million, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.04 and a beta of 0.78. Potbelly has a 52 week low of $10.00 and a 52 week high of $14.15.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings results on Friday, November 9th. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The business had revenue of $107.00 million for the quarter, compared to the consensus estimate of $109.82 million. Potbelly had a negative net margin of 2.72% and a positive return on equity of 7.35%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. Research analysts anticipate that Potbelly will post 0.3 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Potbelly in the 3rd quarter worth $137,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Potbelly in the 2nd quarter worth $146,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Potbelly in the 2nd quarter worth $152,000. Granite Investment Partners LLC bought a new stake in shares of Potbelly in the 2nd quarter worth $200,000. Finally, Prudential Financial Inc. bought a new stake in shares of Potbelly in the 3rd quarter worth $213,000. Institutional investors and hedge funds own 73.50% of the company’s stock.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. It offers toasty warm sandwiches, salads, and other items. As of August 7, 2018, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, the United Kingdom, Canada, and India.

Further Reading: Hedge Funds

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