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

StockNews.com upgraded shares of Potbelly (NASDAQ:PBPB) from a hold rating to a buy rating in a research note published on Tuesday morning.

Several other equities analysts also recently issued reports on the stock. William Blair restated a “market perform” rating on shares of Potbelly in a report on Friday, March 7th. Benchmark reissued a “buy” rating and set a $16.00 target price on shares of Potbelly in a research report on Friday, March 7th.

Potbelly Trading Down 2.8 %

Shares of NASDAQ:PBPB opened at $9.31 on Tuesday. The business’s 50-day moving average is $11.46 and its 200 day moving average is $9.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. Potbelly has a 1 year low of $6.28 and a 1 year high of $13.48. The firm has a market capitalization of $278.18 million, a P/E ratio of 7.45 and a beta of 1.50.

Insider Buying and Selling at Potbelly

In other Potbelly news, major shareholder David Nierenberg purchased 7,600 shares of Potbelly stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $9.23 per share, with a total value of $70,148.00. Following the transaction, the insider now owns 101,998 shares of the company’s stock, valued at $941,441.54. This represents a 8.05 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Potbelly by 122.6% in the third quarter. JPMorgan Chase & Co. now owns 67,053 shares of the company’s stock valued at $559,000 after purchasing an additional 36,930 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Potbelly in the 3rd quarter valued at about $2,332,000. Sanctuary Advisors LLC purchased a new stake in shares of Potbelly in the fourth quarter worth about $520,000. Barclays PLC grew its holdings in Potbelly by 247.8% during the third quarter. Barclays PLC now owns 39,780 shares of the company’s stock worth $332,000 after acquiring an additional 28,342 shares during the period. Finally, Hodges Capital Management Inc. raised its position in Potbelly by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock valued at $5,086,000 after acquiring an additional 159,900 shares in the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

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.