Potbelly (NASDAQ:PBPB – Get Free Report) issued its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03, Zacks reports. Potbelly had a net margin of 0.76% and a return on equity of 36.44%. The business had revenue of $119.70 million during the quarter, compared to analysts’ expectations of $119.00 million. During the same quarter in the prior year, the business posted $0.07 EPS.
Potbelly Price Performance
Shares of PBPB stock traded up $0.37 during mid-day trading on Friday, reaching $7.21. The stock had a trading volume of 477,596 shares, compared to its average volume of 260,890. Potbelly has a 12-month low of $6.28 and a 12-month high of $14.36. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $7.53 and a 200 day simple moving average of $9.98. The company has a market cap of $215.15 million, a P/E ratio of 60.08 and a beta of 1.16.
Wall Street Analyst Weigh In
PBPB has been the topic of a number of research reports. Benchmark restated a “buy” rating and set a $16.00 price target on shares of Potbelly in a research note on Tuesday, May 28th. Craig Hallum dropped their price objective on shares of Potbelly from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.33.
Insider Activity at Potbelly
In other Potbelly news, major shareholder Nierenberg Investment Manageme bought 23,394 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $6.62 per share, for a total transaction of $154,868.28. Following the completion of the transaction, the insider now owns 1,561,985 shares in the company, valued at approximately $10,340,340.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have acquired 71,780 shares of company stock valued at $473,829. Insiders own 9.10% 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.