Zacks Investment Research upgraded shares of Potbelly Corporation (NASDAQ:PBPB) from a sell rating to a hold rating in a research report report published on Friday morning.

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. “

Other analysts have also recently issued reports about the company. Maxim Group upgraded Potbelly Corporation from a hold rating to a buy rating and set a $13.00 price target on the stock in a research report on Wednesday, May 31st. TheStreet cut Potbelly Corporation from a b- rating to a c rating in a research report on Monday, June 19th. Finally, BidaskClub cut Potbelly Corporation from a hold rating to a sell rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company has a consensus rating of Hold and an average target price of $13.50.

Potbelly Corporation (NASDAQ:PBPB) traded up 3.13% on Friday, hitting $11.55. The stock had a trading volume of 534,201 shares. The company has a market cap of $290.19 million, a price-to-earnings ratio of 72.64 and a beta of 0.90. Potbelly Corporation has a 12-month low of $10.50 and a 12-month high of $14.55. The company’s 50 day moving average price is $11.37 and its 200-day moving average price is $12.16.

Potbelly Corporation (NASDAQ:PBPB) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The company had revenue of $108.10 million for the quarter, compared to analyst estimates of $109.78 million. Potbelly Corporation had a return on equity of 8.68% and a net margin of 1.03%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. Equities research analysts anticipate that Potbelly Corporation will post $0.32 EPS for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Highland Private Wealth Management acquired a new stake in Potbelly Corporation in the 2nd quarter valued at approximately $146,000. The Manufacturers Life Insurance Company increased its position in Potbelly Corporation by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,954 shares of the company’s stock valued at $241,000 after acquiring an additional 354 shares during the period. Engine Capital Management LLC acquired a new stake in Potbelly Corporation in the 2nd quarter valued at approximately $154,000. Arrowstreet Capital Limited Partnership increased its position in Potbelly Corporation by 0.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 283,735 shares of the company’s stock valued at $3,263,000 after acquiring an additional 1,101 shares during the period. Finally, State Street Corp increased its position in Potbelly Corporation by 9.4% in the 2nd quarter. State Street Corp now owns 452,794 shares of the company’s stock valued at $5,211,000 after acquiring an additional 39,033 shares during the period. Hedge funds and other institutional investors own 72.75% of the company’s stock.

Potbelly Corporation Company Profile

Potbelly Corporation owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. As of December 25, 2016, the Company operated Potbelly Sandwich Works sandwich shops in 29 states and the District of Columbia.

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