Potbelly (NASDAQ:PBPB) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Potbelly (NASDAQ:PBPB - Free Report) from a hold rating to a buy rating in a research report report published on Tuesday.

Other equities research analysts also recently issued reports about the company. William Blair reissued a "market perform" rating on shares of Potbelly in a research note on Friday, March 7th. Benchmark reissued a "buy" rating and set a $16.00 target price on shares of Potbelly in a research note on Friday, March 7th.

Potbelly Price Performance

Shares of NASDAQ PBPB traded up $0.15 during trading on Tuesday, hitting $9.32. The company had a trading volume of 313,926 shares, compared to its average volume of 209,216. Potbelly has a 52 week low of $6.28 and a 52 week high of $13.48. The company has a market cap of $278.48 million, a P/E ratio of 7.46 and a beta of 1.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. The business's 50-day moving average is $11.47 and its 200 day moving average is $9.79.

Insider Activity at Potbelly

In other news, major shareholder David Nierenberg bought 7,600 shares of the stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $9.23 per share, with a total value of $70,148.00. Following the completion of the purchase, the insider now owns 101,998 shares of the company's stock, valued at approximately $941,441.54. This trade represents a 8.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 9.10% of the company's stock.

Remove Ads

Institutional Investors Weigh In On Potbelly

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its position in shares of Potbelly by 51.9% in the third quarter. Victory Capital Management Inc. now owns 101,039 shares of the company's stock worth $843,000 after purchasing an additional 34,539 shares in the last quarter. Cerity Partners LLC bought a new stake in Potbelly during the 3rd quarter worth about $2,332,000. FMR LLC boosted its stake in shares of Potbelly by 1,101.9% during the 3rd quarter. FMR LLC now owns 8,678 shares of the company's stock worth $72,000 after buying an additional 7,956 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Potbelly by 177.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,978 shares of the company's stock valued at $292,000 after acquiring an additional 22,359 shares in the last quarter. Finally, Portolan Capital Management LLC grew its holdings in shares of Potbelly by 21.7% in the 3rd quarter. Portolan Capital Management LLC now owns 902,529 shares of the company's stock valued at $7,527,000 after acquiring an additional 160,763 shares in the last quarter. 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.