Potbelly Corporation (NASDAQ:PBPB) is among the top gainers of the stock market today, skyrocketing 3.94% or (0.22 points) to $5.8 from its previous close of $5.58. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 172270 contracts so far this session. PBPB shares had a relatively better volume day versus average trading capacity of 265.98 thousand shares, but with a 23.22 million float and a -14.68% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PBPB stock indicates that the average analyst price target is $8.67 per share. This means the stock has a potential increase of 49.48% from where the PBPB share price has been trading recently which is between $5.51 and $5.92. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $8.
The shorts are running away from Potbelly Corporation (PBPB) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in PBPB shares. While short interest still represents only 13.08% of PBPB’s float, the number of shares shorted have fallen by -297095. The number of shares shorted fell to 2740826 shares, down from 3037921 shares during the preceding fortnight. With average daily trading volumes at 162098 shares, days to cover increased to about 15.28737 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of PBPB earnings conference call or presentation 7-May-19 9:00pm GMT” and dated May 14, 2019.
During the recent trading session for Potbelly Corporation (NASDAQ:PBPB), the company witnessed their stock drop by $-0.65 over a week and tumble down $-3.12 from the price 20 days ago. When compared to their established 52-week high of $14.15, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/21/18. The recent low of $5.51 stood for a -59.01% since 05/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.17 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Potbelly Corporation, the two-week RSI stands at 19.66. This figure suggests that PBPB stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current PBPB readings is similarly very revealing as it has a stochastic reading of 4.09% at this stage. This figure means that PBPB share price today is being overbought.
Technical chart claims that Potbelly Corporation (PBPB) would settle between $5.83/share to $6.08/share level. However, if the stock price goes below the $5.42 mark, then the market for Potbelly Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $5.26 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.65. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group lowered their recommendation on shares of PBPB from Buy to Hold in their opinion released on May 08. Maxim Group analysts again handed out a Buy recommendation to Potbelly Corporation (NASDAQ:PBPB) stock but they lifted target price for the shares in a flash note issued to investors on February 26. The target price has been raised from $12 to $11. Analysts at Maxim Group released an upgrade from Hold to Buy for the stock, in a research note that dated back to October 10.
PBPB equity has an average rating of 3, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 1 analysts rated Potbelly Corporation (NASDAQ:PBPB) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PBPB stock price is currently trading at 19.04X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.76 while for the average stock in the same group, the multiple is 2.44. Potbelly Corporation current P/E ratio of 75.44 means it is trading at a discount against its industry’s 79.31. In the past 5 years, this ratio for the stock has been fluctuating between 43.6 and 84.82.
Potbelly Corporation (PBPB)’s current-quarter revenues are projected to climb by nearly -3.44% to hit $106550, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -2.49% from $422640 to a noteworthy $412100. At the other end of the current quarter income statement, Potbelly Corporation is expected to see its adjusted earnings surge by roughly -38.46% to hit $0.08 per share. For the fiscal year, PBPB’s earnings are projected to climb by roughly -110.34% to hit $-0.03 per share.