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Potbelly (PBPB) IPO Sends Shares Soaring

By  +Follow October 4, 2013 6:16AM
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Shares in sandwich maker Potbelly ($PBPB) soared in its first day of trading, welcoming the company to the street with a nearly 125 percent pop. The offering, led by Bank of American (BAC) and Goldman Sachs (GS) , priced shares at $14. This was higher than expected, but still proved to be too low as the stock took off as soon as trading began.

Investors Feast on Potbelly

Potbelly brought an attractive series of fundamentals to the table that clearly piqued interest for investors. Potbelly featured 286 locations in 18 states as of June 30, and expressed plans to increase the number of stores by 10 percent annually. What’s more, Potbelly saw last year’s revenue reach $274.9 million, a year-over-year increase of 16 percent. With average revenue growth over the last 5 years at 14 percent annually, Potbelly is well ahead of the industry average of between 2 and 3 percent.

Some see Potbelly’s prices, between $5 and $8 a sandwich, as making it very competitive in the market for people’s lunch dollars.

"The price of a meal at Potbelly is competitive," said Joe Pawlak, vice president of restaurant consultants Technomic. "Since Potbelly does not have table service, customers can save a few dollars not having to tip while also enjoying a sit-down experience. Potbelly is in the sweet spot of quick casual restaurants."

Pawlak continued, citing a warm atmosphere as well: "You don't mind staying and eating at Potbelly, unlike other sandwich shops," Pawlak said. "Also, the quality is as good or better than other casual restaurants."

 The IPO sold some 7.5 million shares at $14 apiece, up from the $12 to $13 a share the company had initially predicted, raising $105 million for the growing eatery.

Restaurant Chains a Popular Wall Street Play

Potbelly represents another in a line of eatery stocks that have been showing strong gains of late. Noodles & Co. (NDLS) had its IPO in June and is up almost 19 percent since that date. Mexican-inspired restraunts Chuy’s (CHUY) and Chipotle Mexican Grill (CMG) have posted strong gains this year, up 70 percent and 45 percent respectively since the start of 2013. 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for PBPB
ProTradersNews
18 Dec 14 06:23:05
$PBPB: Insider Selling: Bryant L. Keil Sells 6198 Shares of Potbelly Corp ... http://t.co/caftTm4klk http://t.co/et8t8eDvHP
WKRB News
18 Dec 14 06:21:47
Insider Selling: Bryant L. Keil Sells 6,198 Shares of Potbelly Corp Stock $PBPB http://t.co/CG7I9i9vwC
Roberee
18 Dec 14 05:04:07
$PBPB Same with the CEO here...kick him out.
ProVesting
17 Dec 14 05:43:08
$PBPB: Insider Selling: Bryant L. Keil Sells 6198 Shares of Potbelly Corp ... http://t.co/SsAEtvm4RF http://t.co/Rd6TDZJZcA
MarketCurrents
17 Dec 14 04:47:23
Potbelly coming to London http://t.co/TxbaMSc1aT #premarket $PBPB
NASDAQ
17 Dec 14 03:07:42
$PBPB - Current Report Filing (8-k) http://t.co/th9YhMCc7H
NASDAQ
17 Dec 14 03:07:09
$PBPB - Current Report Filing (8-k) http://t.co/th9YhMCc7H
chartguy89
17 Dec 14 01:18:34
PBPB +1.89% Stock Charts $PBPB Potbelly Corp. (NASDAQ) Last Updated: 12/17/2014 03:18:39 PBPB Stock Chart - 1 http://t.co/ce5YNJbzJj
US Consumer News
16 Dec 14 21:52:15
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/fVnDdviQhA
US Banking News
16 Dec 14 21:52:12
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/QoUNYYT5Hw
US Banking News
16 Dec 14 19:24:50
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/QoUNYYT5Hw
US Consumer News
16 Dec 14 19:24:44
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/fVnDdviQhA
Woodcutters6
16 Dec 14 18:09:11
RT @BarbarianCap: $PBPB Potbelly founding chairman continues to dump shares non-stop
Befree
16 Dec 14 18:03:47
RT @BarbarianCap: $PBPB Potbelly founding chairman continues to dump shares non-stop
Bernard Cornfeld
16 Dec 14 17:48:01
RT @BarbarianCap: $PBPB Potbelly founding chairman continues to dump shares non-stop
Barbarian Capital
16 Dec 14 17:38:20
$PBPB Potbelly founding chairman continues to dump shares non-stop
InsiderTradingWire
16 Dec 14 17:05:41
Equity Maveron Partners 2000, L.P., of Potbelly Corporat Sells $23,400,000 Worth of $PBPB - #Form4 #InsiderTrading - http://t.co/Hsb02xHwx5
US Banking News
16 Dec 14 17:03:24
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/QoUNYYT5Hw
Insider Filings
16 Dec 14 17:02:10
$PBPB: Maveron Equity Partners 2000, L.P., Maver... sold a net $23,400,000 in POTBELLY CORP. http://t.co/owd5tJTv0p
US Consumer News
16 Dec 14 17:01:54
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/fVnDdviQhA
ProTradersNews
16 Dec 14 13:22:06
$PBPB: Duly Noted: Potbelly preps a European expansion http://t.co/FYCUyHC2e6 http://t.co/GmIjuc1wID
ProVesting
16 Dec 14 09:33:06
$PBPB: Insider Selling: Potbelly Corp Director Unloads 6198 Shares of ... http://t.co/ohJh1fpwo2 http://t.co/Sf14MsU22b
InterCooler
16 Dec 14 08:38:51
Potbelly Corp Director Bryant L. Keil Unloads 18,802 Shares $PBPB http://t.co/Xw97Ar26xE
US Banking News
16 Dec 14 07:41:01
Potbelly Corp Director Bryant L. Keil Unloads 6,198 Shares $PBPB http://t.co/t4zBuuJr5E
Ticker Report
16 Dec 14 07:39:24
Potbelly Corp Director Bryant L. Keil Unloads 6,198 Shares $PBPB http://t.co/3ScGfuvrf6
ProTradersNews
16 Dec 14 07:38:06
$PBPB: Potbelly Corp Director Bryant L. Keil Unloads 6198 Shares (PBPB) http://t.co/4O2g0RzvLX http://t.co/cWqsd3OL1T
US Banking News
16 Dec 14 07:24:32
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/QoUNYYT5Hw
US Consumer News
16 Dec 14 07:24:26
Potbelly Corp Director Bryant Keil Sells $74,252 in $PBPB http://t.co/fVnDdviQhA
Jessica Wohl
16 Dec 14 06:47:22
Potbelly CEO: minimum wage for us is a starting place, not a destination. $PBPB
The Executives' Club
16 Dec 14 06:40:54
RT @jessicawohl: Potbelly CEO tells @ExecClubChicago the chain will eventually have more restaurants internationally than in US $PBPB
Jessica Wohl
16 Dec 14 06:39:24
Potbelly CEO tells @ExecClubChicago the chain will eventually have more restaurants internationally than in US $PBPB
Carmél Carrillo
16 Dec 14 06:38:56
RT @jessicawohl: Potbelly CEO says chain heading to a large European capital next year $PBPB
Jessica Wohl
16 Dec 14 06:38:32
Potbelly CEO says chain heading to a large European capital next year $PBPB
NASDAQ
16 Dec 14 06:10:06
$PBPB - Statement of Changes in Beneficial Ownership (4) http://t.co/EM8PDtew4n
Jessica Wohl
16 Dec 14 06:00:11
Slow, dreary commute to @ExecClubChicago breakfast. Ready to hear @Potbelly CEO speak $PBPB
ProVesting
15 Dec 14 13:04:02
$PBPB: Potbelly Sandwich Shop targets Charlotte market http://t.co/mvrqylo2od http://t.co/Ljt3sbIb24
News Box
15 Dec 14 08:33:04
$PBPB: Insider Selling: Bryant L. Keil Unloads 18802 Shares of Potbelly ... http://t.co/z7Uo5yrsz8 http://t.co/s2eyRKB78y
chartguy89
13 Dec 14 02:20:27
PBPB -1.06% Stock Charts $PBPB Potbelly Corp. (NASDAQ) Last Updated: 12/13/2014 04:20:29 PBPB Stock Chart - 1 http://t.co/mH2a8I5yWE
The Legacy News
12 Dec 14 19:00:32
Potbelly Corp Director Bryant L. Keil Sells 18,802 Shares $PBPB http://t.co/nxe57gS77G
StockNewsWires
12 Dec 14 18:58:11
$PBPB: Potbelly Corp Director Bryant L. Keil Sells 18802 Shares (PBPB) http://t.co/0wk3AGTNRd http://t.co/Vvu6TwnsqA
US Banking News
12 Dec 14 18:24:22
Potbelly Corp Director Bryant L. Keil Sells 18,802 Shares $PBPB http://t.co/5FEoMQPX2L
Sleek Money
12 Dec 14 18:23:47
Potbelly Corp Director Bryant L. Keil Sells 18,802 Shares $PBPB http://t.co/ietMndFkmP
News Box
12 Dec 14 18:18:04
$PBPB: Potbelly Corp Director Bryant L. Keil Sells 18802 Shares (PBPB) http://t.co/lBMiTgvktv http://t.co/1n4tnDborC
Insider Filings
12 Dec 14 14:44:07
$PBPB: KEIL BRYANT L sold a net $231,792 in POTBELLY CORP. http://t.co/owd5tJTv0p
				
				
By  +Follow October 4, 2013 6:16AM
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