Zacks Investment Research upgraded shares of Potbelly (NASDAQ:PBPB) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Potbelly Corporation is a neighborhood sandwich concept. The Company manages establishments for consuming food on premises to offers sandwiches, salads, soups, chili, chips, cookies, ice cream, and smoothies. It serves customers throughout the United States. Potbelly Corporation is headquartered in Chicago, Illinois. “

Separately, Maxim Group set a $7.00 target price on Eagle Bulk Shipping and gave the stock a buy rating in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock currently has a consensus rating of Sell and a consensus price target of $8.92.

Shares of NASDAQ PBPB opened at $4.46 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 2.85. The firm has a market cap of $106.79 million, a PE ratio of 29.73 and a beta of 1.37. The stock has a fifty day moving average of $4.93. Potbelly has a 52-week low of $4.24 and a 52-week high of $14.15.

Potbelly (NASDAQ:PBPB) last issued its earnings results on Tuesday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.08). The company had revenue of $98.09 million during the quarter, compared to analyst estimates of $100.96 million. Potbelly had a positive return on equity of 3.85% and a negative net margin of 6.01%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. As a group, sell-side analysts expect that Potbelly will post -0.03 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of PBPB. Quantamental Technologies LLC acquired a new stake in shares of Potbelly in the first quarter worth $26,000. BNP Paribas Arbitrage SA boosted its position in shares of Potbelly by 20,439.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,724 shares of the company’s stock worth $40,000 after buying an additional 4,701 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Potbelly by 287.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,032 shares of the company’s stock worth $49,000 after buying an additional 4,474 shares during the period. Bank of America Corp DE boosted its position in shares of Potbelly by 97.1% in the fourth quarter. Bank of America Corp DE now owns 13,587 shares of the company’s stock worth $109,000 after buying an additional 6,695 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Potbelly by 32.6% in the fourth quarter. Jane Street Group LLC now owns 14,789 shares of the company’s stock worth $119,000 after buying an additional 3,634 shares during the period. Institutional investors and hedge funds own 72.03% of the company’s stock.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.

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