Trading Report: Today, Potbelly Corp. (PBPB) Upgrade by Maxim Group to Buy

Today, Potbelly Corp. (PBPB) Upgrade by Maxim Group to Buy

Potbelly Corp. (NASDAQ:PBPB) was upgraded by investment analysts at Maxim Group from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $14.00 price target on the stock.

Several other research firms also recently weighed in on PBPB. Zacks Investment Research downgraded Potbelly Corp. from a “hold” rating to a “sell” rating in a report on Saturday, July 23rd. Robert W. Baird reissued a “neutral” rating on shares of Potbelly Corp. in a report on Thursday, September 8th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $14.30.

Potbelly Corp. (NASDAQ:PBPB) opened at 14.00 on Monday. The firm has a 50-day moving average price of $13.08 and a 200-day moving average price of $12.95. The firm has a market capitalization of $352.65 million, a PE ratio of 48.61 and a beta of 0.94. Potbelly Corp. has a 1-year low of $9.82 and a 1-year high of $14.99.

Potbelly Corp. (NASDAQ:PBPB) last released its quarterly earnings data 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 return on equity of 8.23% and a net margin of 1.87%. The company had revenue of $103.80 million for the quarter, compared to the consensus estimate of $104.38 million. During the same quarter last year, the business posted $0.08 EPS. Potbelly Corp.’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts expect that Potbelly Corp. will post $0.38 earnings per share for the current fiscal year.

In other news, SVP Matthew J. Revord sold 10,000 shares of Potbelly Corp. stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $12.43, for a total value of $124,300.00. Following the completion of the transaction, the senior vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $124,300. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 value of $248,400.00. Following the completion of the transaction, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at $248,400. The disclosure for this sale can be found here. Corporate insiders own 9.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bayesian Capital Management LP acquired a new position in Potbelly Corp. during the first quarter valued at $142,000. Algert Global LLC acquired a new position in Potbelly Corp. during the second quarter valued at $130,000. Stevens Capital Management LP acquired a new position in Potbelly Corp. during the second quarter valued at $146,000. BlackRock Advisors LLC raised its position in Potbelly Corp. by 9.6% in the second quarter. BlackRock Advisors LLC now owns 11,733 shares of the company’s stock valued at $147,000 after buying an additional 1,032 shares during the period. Finally, Numeric Investors LLC acquired a new position in Potbelly Corp. during the second quarter valued at $157,000. 69.77% of the stock is owned by hedge funds and other institutional investors.

About Potbelly Corp.

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