Baird Downgrades Potbelly Corp to Neutral

Brokerage firm Baird Downgrades its rating on Potbelly Corp(NASDAQ:PBPB). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Baird was issued on Aug 1, 2016.

Potbelly Corp (PBPB) made into the market gainers list on Mondays trading session with the shares advancing 0.15% or 0.02 points. Due to strong positive momentum, the stock ended at $12.97, which is also near the day’s high of $13. The stock began the session at $12.95 and the volume stood at 84,531 shares. The 52-week high of the shares is $14.99 and the 52 week low is $9.82. The company has a current market capitalization of $327 M and it has 2,51,92,902 shares in outstanding.

Potbelly Corp(PBPB) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $95.95M. Analysts had an estimated revenue of $96.19M. Earnings per share were $0.04. Analysts had estimated an EPS of $0.04.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Matthew J Revord (SVP, GC and Secretary) sold 30,000 shares at $12.46 per share price.Also, 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.

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