Potbelly Corp (PBPB) is Downgraded by Robert W. Baird to Neutral, Lowers Price Target to $ 13

Potbelly Corp (PBPB) was Downgraded by Robert W. Baird to ” Neutral” while Lowering the Price Target of the company shares to $ 13 from a previous price target of $16 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 1, 2016.

On the company’s financial health, Potbelly Corp reported $0.04 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $0.04. The company had revenue of $96.00 million for the quarter, compared to analysts expectations of $96.20 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Potbelly Corp opened for trading at $12.92 and hit $13.1 on the upside on Friday, eventually ending the session at $13.03, with a gain of 1.16% or 0.15 points. The heightened volatility saw the trading volume jump to 2,32,681 shares. Company has a market cap of $339 M.

In a different news, on Jul 5, 2016, Matthew J Revord (SVP, GC and Secretary) sold 30,000 shares at $12.46 per share price. According to the SEC, on Apr 18, 2016, John B Morlock (SVP, Operations) sold 10,000 shares at $14.00 per share price. On Mar 9, 2016, Christopher Carlson (VP, Controller) purchased 500 shares at $13.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Potbelly Corporation is a neighborhood sandwich concept offering sandwiches salads and other menu items. The Company owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company also has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. The Company has a domestic base of around 351 shops in 26 states of the United States and the District of Columbia consisting of approximately 334 Company-operated shops and around 17 franchisee-operated shops. The Company also has around 12 franchised shops in the Middle East. The Company’s menu includes sandwiches salads soups chili sides desserts and in its breakfast locations breakfast sandwiches and steel cut oatmeal. The Company also offers hand-dipped shakes and smoothies. The Company’s cookie offerings include Oatmeal Chocolate Chip Sugar and Chocolate Brownie cookies.

Potbelly Corp

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