Zacks Investment Research upgraded shares of Potbelly (NASDAQ:PBPB) from a strong sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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. “

Separately, Maxim Group set a $7.00 price target on Eagle Bulk Shipping and gave the stock a buy rating in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has an average rating of Sell and a consensus target price of $8.92.

Shares of NASDAQ:PBPB opened at $4.46 on Wednesday. Potbelly has a fifty-two week low of $4.24 and a fifty-two week high of $14.15. The business has a 50-day moving average of $4.93. The firm has a market capitalization of $106.79 million, a PE ratio of 29.73 and a beta of 1.37. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 2.85.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). Potbelly had a positive return on equity of 3.85% and a negative net margin of 6.01%. The company had revenue of $98.09 million during the quarter, compared to analyst estimates of $100.96 million. During the same period in the prior year, the firm earned $0.03 EPS. Potbelly’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts forecast that Potbelly will post -0.03 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Potbelly by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 82,935 shares of the company’s stock worth $668,000 after purchasing an additional 1,911 shares during the period. Quantamental Technologies LLC bought a new position in shares of Potbelly in the first quarter worth about $26,000. Jane Street Group LLC increased its stake in shares of Potbelly by 32.6% in the fourth quarter. Jane Street Group LLC now owns 14,789 shares of the company’s stock worth $119,000 after purchasing an additional 3,634 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Potbelly by 287.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,032 shares of the company’s stock worth $49,000 after purchasing an additional 4,474 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Potbelly by 20,439.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,724 shares of the company’s stock worth $40,000 after purchasing an additional 4,701 shares during the period. Institutional investors and hedge funds own 72.03% 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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