Potbelly Corp (PBPB) is Reiterated by Maxim Group to Buy, Raises Price Target to $ 16

Potbelly Corp (PBPB) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $14 . Maxim Group advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on Potbelly Corp. Maxim Group Upgraded Potbelly Corp on Nov 7, 2016 to ” Buy”, Price Target of the shares are set at $14.Maxim Group Initiated Potbelly Corp on Sep 30, 2016 to “Hold”, Price Target of the shares are set at $14.

On the company’s financial health, Potbelly Corp reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $0.10. The company had revenue of $103.80 million for the quarter, compared to analysts expectations of $104.37 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Potbelly Corp opened for trading at $13.45 and hit $13.5 on the upside on Monday, eventually ending the session at $13.45, with a gain of 0.75% or 0.1 points. The heightened volatility saw the trading volume jump to 2,12,132 shares. Company has a market cap of $339 M.

In a different news, on Nov 8, 2016, Matthew J Revord (SVP, GC and Secretary) sold 10,000 shares at $12.43 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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