Potbelly Corporation (NASDAQ:PBPB) Issues Earnings Results, Misses Expectations By $0.01 EPS

Potbelly Corporation (NASDAQ:PBPB) posted its quarterly earnings data on Friday. The company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.01, Bloomberg Earnings reports. Potbelly Corporation had a return on equity of 9.73% and a net margin of 1.89%. The firm had revenue of $108.10 million during the quarter, compared to analysts’ expectations of $109.78 million. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Potbelly Corporation updated its FY17 guidance to $0.30-0.33 EPS.

Shares of Potbelly Corporation (NASDAQ PBPB) traded up 2.29% during trading on Friday, hitting $11.15. 1,616,877 shares of the stock were exchanged. Potbelly Corporation has a one year low of $10.50 and a one year high of $14.55. The stock’s 50 day moving average price is $11.90 and its 200-day moving average price is $12.54. The company has a market cap of $279.25 million, a price-to-earnings ratio of 37.04 and a beta of 0.91.

In related news, Director Peter A. Bassi purchased 8,650 shares of Potbelly Corporation stock in a transaction dated Monday, May 8th. The shares were acquired at an average cost of $11.47 per share, with a total value of $99,215.50. Following the purchase, the director now owns 19,287 shares of the company’s stock, valued at $221,221.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Vivaldi Capital Management LLC bought a new stake in Potbelly Corporation during the first quarter worth about $3,285,682,000. First National Bank of Omaha increased its stake in Potbelly Corporation by 22.1% in the first quarter. First National Bank of Omaha now owns 68,975 shares of the company’s stock worth $959,000 after buying an additional 12,464 shares during the period. Tributary Capital Management LLC increased its stake in Potbelly Corporation by 24.5% in the first quarter. Tributary Capital Management LLC now owns 788,258 shares of the company’s stock worth $10,957,000 after buying an additional 155,095 shares during the period. Trexquant Investment LP increased its stake in Potbelly Corporation by 1.6% in the first quarter. Trexquant Investment LP now owns 20,784 shares of the company’s stock worth $289,000 after buying an additional 333 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Potbelly Corporation by 52.6% in the first quarter. Bank of New York Mellon Corp now owns 243,758 shares of the company’s stock worth $3,389,000 after buying an additional 83,992 shares during the period. 73.76% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by [[site]] and is owned by of [[site]]. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at [[permalink]].

A number of research firms recently weighed in on PBPB. Zacks Investment Research raised shares of Potbelly Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Tuesday, April 25th. Maxim Group lowered shares of Potbelly Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $16.00 to $13.00 in a research report on Wednesday, May 3rd. William Blair lowered shares of Potbelly Corporation from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. BidaskClub lowered shares of Potbelly Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, TheStreet lowered shares of Potbelly Corporation from a “b-” rating to a “c” rating in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Potbelly Corporation currently has an average rating of “Hold” and an average price target of $13.50.

About Potbelly Corporation

Potbelly Corporation owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. As of December 25, 2016, the Company operated Potbelly Sandwich Works sandwich shops in 29 states and the District of Columbia.