Potbelly (NASDAQ:PBPB) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Potbelly (NASDAQ:PBPB) from a hold rating to a sell rating in a research report sent to investors on Friday, 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. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. Potbelly presently has an average rating of Sell and an average target price of $8.92.



NASDAQ PBPB opened at $4.44 on Friday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.56 and a current ratio of 0.62. The firm has a fifty day moving average price of $4.83. Potbelly has a 1 year low of $4.24 and a 1 year high of $14.15. The firm has a market cap of $106.31 million, a P/E ratio of 15.31 and a beta of 1.38.

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 the consensus estimate of ($0.04) by ($0.08). The company had revenue of $98.09 million for the quarter, compared to analyst estimates of $100.96 million. Potbelly had a positive return on equity of 3.85% and a negative net margin of 6.01%. Potbelly’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. As a group, sell-side analysts predict that Potbelly will post -0.03 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its stake in shares of Potbelly by 97.1% during the 4th quarter. Millennium Management LLC now owns 629,545 shares of the company’s stock worth $5,068,000 after acquiring an additional 310,119 shares in the last quarter. Confluence Investment Management LLC lifted its stake in Potbelly by 23.8% in the 1st quarter. Confluence Investment Management LLC now owns 454,793 shares of the company’s stock valued at $3,871,000 after buying an additional 87,478 shares in the last quarter. Kennedy Capital Management Inc. lifted its stake in Potbelly by 15.7% in the 1st quarter. Kennedy Capital Management Inc. now owns 618,248 shares of the company’s stock valued at $5,261,000 after buying an additional 84,093 shares in the last quarter. Martingale Asset Management L P lifted its stake in Potbelly by 125.3% in the 1st quarter. Martingale Asset Management L P now owns 144,614 shares of the company’s stock valued at $1,231,000 after buying an additional 80,414 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Potbelly by 57.1% in the 1st quarter. Wedge Capital Management L L P NC now owns 142,582 shares of the company’s stock valued at $1,213,000 after buying an additional 51,826 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

About Potbelly

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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