William Blair Issues Positive Estimate for Potbelly Earnings

Potbelly Co. (NASDAQ:PBPB) – Research analysts at William Blair boosted their FY2024 earnings per share estimates for shares of Potbelly in a research note issued to investors on Friday, November 8th. William Blair analyst S. Zackfia now anticipates that the company will earn $0.21 per share for the year, up from their previous estimate of $0.20. The consensus estimate for Potbelly’s current full-year earnings is $0.21 per share. William Blair also issued estimates for Potbelly’s Q4 2024 earnings at $0.04 EPS.

Several other equities research analysts have also issued reports on the company. Benchmark reiterated a “buy” rating and set a $16.00 price target on shares of Potbelly in a report on Monday, August 12th. 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 research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Potbelly has an average rating of “Moderate Buy” and an average price target of $16.00.

Potbelly Price Performance

PBPB opened at $10.65 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.39 and a debt-to-equity ratio of 0.08. Potbelly has a 1 year low of $6.28 and a 1 year high of $14.36. The stock has a fifty day moving average price of $8.16 and a 200 day moving average price of $8.08. The stock has a market cap of $318.83 million, a price-to-earnings ratio of 8.52 and a beta of 1.21.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PBPB. Silvercrest Asset Management Group LLC bought a new stake in Potbelly during the first quarter worth approximately $5,820,000. First Eagle Investment Management LLC boosted its holdings in shares of Potbelly by 17.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,011,328 shares of the company’s stock worth $8,121,000 after buying an additional 152,200 shares during the period. Squarepoint Ops LLC acquired a new position in Potbelly in the 2nd quarter valued at $1,070,000. Russell Investments Group Ltd. raised its holdings in Potbelly by 224.9% in the 1st quarter. Russell Investments Group Ltd. now owns 300,736 shares of the company’s stock worth $3,642,000 after acquiring an additional 208,170 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in Potbelly by 8.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 61,693 shares of the company’s stock worth $747,000 after acquiring an additional 4,971 shares during the last quarter. Institutional investors and hedge funds 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.