Potbelly Corporation (NASDAQ:PBPB) Given Consensus Rating of “Hold” by Analysts

Potbelly Corporation (NASDAQ:PBPB) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $17.4133.

Several analysts have recently weighed in on PBPB shares. Weiss Ratings restated a “hold (c)” rating on shares of Potbelly in a report on Wednesday, October 8th. Benchmark downgraded shares of Potbelly from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a report on Friday, September 12th. Lake Street Capital lowered shares of Potbelly from a “buy” rating to a “hold” rating and raised their price objective for the company from $15.00 to $17.12 in a research report on Thursday, September 11th. Craig Hallum downgraded shares of Potbelly from a “strong-buy” rating to a “hold” rating and set a $17.12 target price on the stock. in a report on Wednesday, September 10th. Finally, Wall Street Zen upgraded shares of Potbelly to a “hold” rating in a report on Saturday, October 25th.

Potbelly Price Performance

NASDAQ PBPB opened at $17.12 on Friday. Potbelly has a 12 month low of $7.27 and a 12 month high of $17.13. The firm has a market capitalization of $518.05 million, a PE ratio of 48.92 and a beta of 1.52. The company’s 50 day simple moving average is $17.09 and its 200 day simple moving average is $13.69.

Potbelly (NASDAQ:PBPB) last released its earnings results on Monday, January 9th. The company reported ($0.05) earnings per share for the quarter. Potbelly had a return on equity of 16.31% and a net margin of 2.30%.The firm had revenue of $101.69 million during the quarter. Potbelly has set its Q4 2022 guidance at EPS. Sell-side analysts anticipate that Potbelly will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Potbelly

A number of hedge funds have recently modified their holdings of PBPB. Water Island Capital LLC acquired a new stake in shares of Potbelly during the third quarter worth $23,031,000. Balyasny Asset Management L.P. acquired a new stake in Potbelly during the 3rd quarter worth about $19,609,000. Versor Investments LP purchased a new stake in Potbelly during the third quarter valued at about $18,016,000. First Trust Capital Management L.P. acquired a new position in shares of Potbelly in the third quarter worth about $14,615,000. Finally, Alpine Associates Management Inc. purchased a new position in shares of Potbelly in the third quarter worth approximately $8,934,000. 72.60% of the stock is currently owned by institutional investors and hedge funds.

Potbelly Company Profile

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.