New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 4, 2014
12:27 EDTPBPB, NDLSPotbelly rises after analyst ups rating to Outperform
Shares of casual dining company Potbelly (PBPB) are climbing after research firm William Blair upgraded the stock to Outperform from Market Perform in a note to investors earlier today. WHAT'S NEW: After falling nearly 30% so far this year before the open of trading today, Potbelly is unlikely to drop a great deal further, William Blair analyst Sharon Zackfia wrote. Following the decline in the stock, Potbelly now trades at a multiple that's 30% lower than that of its peer Noodles & Company (NDLS), the analyst stated. Meanwhile, the number of Potbelly's shares that are sold short had "skyrocketed" to 4.8M as of mid-March, with share sold short now representing 15% of the total shares outstanding, she added. Although the analyst expects Potbelly to report slightly lower than expected first quarter revenue, partly due to poor weather, she thinks the Street is well aware of the weather issues. Additionally, the tough weather is unlikely to put much of a dent in the company's profit, she believes. Improving same-store sales trends could make investors more upbeat about the stock, while over the long-term Potbelly can more than triple its restaurant base, added Zackfia. WHAT'S NOTABLE: Potbelly made its debut as a publicly traded company on October 4 of last year. The sandwich shop operator's stock opened for trade at $28.66, after having priced the 7.5M share offering at $14.00. PRICE ACTION: In early afternoon trading, Potbelly rallied 88c, or 5.14%, to $18.00. Accounting for today's advance, Potbelly shares have fallen about 37% from their opening price.
News For PBPB;NDLS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for PBPB;NDLS

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use