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 released on Tuesday morning.

A number of other brokerages also recently weighed in on PBPB. William Blair restated a “market perform” rating on shares of Potbelly in a report on Friday, March 7th. Benchmark reaffirmed a “buy” rating and set a $16.00 price objective on shares of Potbelly in a research report on Friday, March 7th.

Potbelly Price Performance

Shares of PBPB opened at $9.17 on Tuesday. The company has a market cap of $274.00 million, a price-to-earnings ratio of 7.34 and a beta of 1.50. Potbelly has a 1-year low of $6.28 and a 1-year high of $13.48. The company’s fifty day simple moving average is $11.46 and its 200 day simple moving average is $9.76. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.06.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Potbelly

Institutional investors have recently modified their holdings of the business. Aquatic Capital Management LLC bought a new stake in shares of Potbelly in the fourth quarter valued at about $27,000. State of Wyoming boosted its position in shares of Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company’s stock valued at $66,000 after acquiring an additional 876 shares during the period. FMR LLC boosted its position in shares of Potbelly by 1,101.9% in the third quarter. FMR LLC now owns 8,678 shares of the company’s stock valued at $72,000 after acquiring an additional 7,956 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Potbelly in the fourth quarter valued at about $98,000. Finally, Quarry LP boosted its position in shares of Potbelly by 662.9% in the third quarter. Quarry LP now owns 10,925 shares of the company’s stock valued at $91,000 after acquiring an additional 9,493 shares during the period. 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.