Potbelly (NASDAQ:PBPB) Hits New 12-Month High – Still a Buy?

Potbelly Corporation (NASDAQ:PBPB)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.09 and last traded at $17.07, with a volume of 179196 shares. The stock had previously closed at $17.08.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Lake Street Capital lowered Potbelly from a “buy” rating to a “hold” rating and boosted their price target for the stock from $15.00 to $17.12 in a research note on Thursday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Potbelly in a research report on Saturday, September 27th. Craig Hallum cut Potbelly from a “strong-buy” rating to a “hold” rating and set a $17.12 price target for the company. in a report on Wednesday, September 10th. Finally, Benchmark downgraded shares of Potbelly from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Friday, September 12th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.41.

Potbelly Trading Down 0.1%

The firm has a market capitalization of $516.54 million, a PE ratio of 48.77 and a beta of 1.52. The firm has a 50-day moving average of $14.19 and a two-hundred day moving average of $11.71.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $123.71 million during the quarter, compared to analyst estimates of $122.65 million. Potbelly had a return on equity of 16.31% and a net margin of 2.30%. Equities research analysts expect that Potbelly Corporation will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GatePass Capital LLC grew its stake in Potbelly by 61.7% during the second quarter. GatePass Capital LLC now owns 65,486 shares of the company’s stock worth $802,000 after buying an additional 25,000 shares during the period. Squarepoint Ops LLC raised its stake in shares of Potbelly by 166.9% in the 2nd quarter. Squarepoint Ops LLC now owns 73,169 shares of the company’s stock valued at $896,000 after acquiring an additional 45,757 shares during the period. Northern Right Capital Management L.P. acquired a new position in shares of Potbelly during the 2nd quarter valued at $590,000. Monimus Capital Management LP boosted its position in Potbelly by 32.6% during the 2nd quarter. Monimus Capital Management LP now owns 671,095 shares of the company’s stock worth $8,221,000 after purchasing an additional 165,151 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Potbelly by 53.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,532 shares of the company’s stock valued at $31,000 after purchasing an additional 881 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

Potbelly Company Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.