Potbelly Co. (NASDAQ:PBPB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Potbelly Co. (NASDAQ:PBPB) have been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $14.33.

A number of equities analysts have commented on PBPB shares. Craig Hallum reduced their target price on shares of Potbelly from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 9th. Benchmark reissued a “buy” rating and set a $16.00 target price on shares of Potbelly in a research report on Monday, August 12th.

Potbelly Trading Down 1.5 %

NASDAQ:PBPB opened at $8.47 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.39 and a current ratio of 0.45. The firm has a 50-day simple moving average of $8.00 and a 200-day simple moving average of $8.39. Potbelly has a one year low of $6.28 and a one year high of $14.36. The firm has a market cap of $253.59 million, a P/E ratio of 7.18 and a beta of 1.19.

Potbelly (NASDAQ:PBPB) last posted its earnings results on Thursday, August 8th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $119.70 million during the quarter, compared to analyst estimates of $119.00 million. Potbelly had a return on equity of 21.42% and a net margin of 7.58%. During the same quarter in the prior year, the business earned $0.07 earnings per share. Equities analysts anticipate that Potbelly will post 0.2 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Nierenberg Investment Manageme bought 23,394 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average cost of $6.62 per share, for a total transaction of $154,868.28. Following the purchase, the insider now directly owns 1,561,985 shares of the company’s stock, valued at approximately $10,340,340.70. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Potbelly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Potbelly in the second quarter valued at about $25,000. Allspring Global Investments Holdings LLC increased its holdings in Potbelly by 9,350.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,844 shares of the company’s stock worth $63,000 after buying an additional 7,761 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Potbelly during the 2nd quarter worth approximately $86,000. Quest Partners LLC lifted its stake in Potbelly by 47.9% during the 2nd quarter. Quest Partners LLC now owns 15,804 shares of the company’s stock valued at $127,000 after acquiring an additional 5,118 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Potbelly in the 2nd quarter valued at $137,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

About Potbelly

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.