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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for PBPB
Long & Short Ideas
27 May 15 03:05:24
Shake Shack Vs. Potbelly http://t.co/YnTJhs4bTj $PBPB $SHAK
Seeking Alpha
27 May 15 03:05:23
Shake Shack Vs. Potbelly http://t.co/c2nGwyiVs1 $PBPB $SHAK
youtube fantastic
27 May 15 00:33:48
RT @WatchTheFunds: $PBPB Institutional ownership up 1.68% Q/Q, with 158,479 net purchase http://t.co/yQeqT8rn9S http://t.co/ETVS8D90Ul
WatchTheFunds
27 May 15 00:33:02
$PBPB Institutional ownership up 1.68% Q/Q, with 158,479 net purchase http://t.co/VWBWiefFUW http://t.co/QEB5m5DFW2
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26 May 15 22:54:19
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Capital Market Labs
26 May 15 21:37:22
$PBPB Revenue is Expanding. #CML_PBPB #CML_Revenue http://t.co/9X4iTjbwq4 http://t.co/uKUot5oRBc
WatchTheFunds
26 May 15 18:39:02
$PBPB Institutional ownership up 1.68% Q/Q, with 158,479 net purchase http://t.co/VWBWiefFUW http://t.co/L2lSe3nOQJ
John A
26 May 15 14:55:04
@conorsen In 200 years, they will call this period of history "The Fast Casual Renaissance" $SHAK $PBPB $BOJA $CMG $ZOES
SwingTradeBot
26 May 15 14:39:02
Scan results - Expansion Pivot Buy Setup today: $KANG $LPSN $OC $SHLD $PBPB ... http://t.co/7CzaFkdxTt
SwingTradeBot
26 May 15 14:30:37
Scan results - Crossed Above 50 DMA today: $LPSN $RYAAY $OC $CMCSA $SHLD $CMCSK $EYES $INXN $PTLA $PBPB ... http://t.co/5x7dxXndh4
9trading Stocks
26 May 15 08:55:14
$PBPB TA seems to have put it in a nice base. The buy rating is set to 5, target: $17.98. http://t.co/62EEoqNgpx
Vincent Mourre
24 May 15 02:05:29
RT @NRNonline: Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/4AkiKZTeRd @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co…
Capital Market Labs
23 May 15 22:13:21
$PBPB EPS is Rising. #CML_PBPB #CML_EPS http://t.co/yNHSNjkltG http://t.co/3qlbZA08qp
Moblized Food
23 May 15 08:22:39
RT @NRNonline: Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/4AkiKZTeRd @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co…
Mike Henderson
23 May 15 08:02:14
RT @NRNonline: Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/4AkiKZTeRd @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co…
Restaurant News
23 May 15 08:01:52
Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/4AkiKZTeRd @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co/920K0q45fx
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23 May 15 02:09:34
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23 May 15 02:03:33
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23 May 15 01:50:13
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23 May 15 01:45:34
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23 May 15 01:42:09
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leahanne
23 May 15 01:39:06
KRNT Kornit Digital Ltd Day Low http://t.co/lTQVhHveUL $KRNT $SLB $TVIX $PBPB #KRNT #stock #stockmarket
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23 May 15 01:38:21
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clayton
23 May 15 01:35:07
FTG.TO Firan Technology Group Corp. % Change http://t.co/V9boyiVlHL $FTG.TO $PBPB $DB $VZ #FTG.TO #share #finance
TheRestaurantFan.com
22 May 15 14:06:58
RT @NRNonline: Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/msUJFb1sVB @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co…
Restaurant News
22 May 15 10:30:38
Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/X9y1VJJAxC @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co/3RbsrcDyBt
Quantcha
22 May 15 10:20:38
StockTwits Trending Alert: Trading recent interest in POTBELLY CORPORATION COMMON ST $PBPB http://t.co/xoo0VMKSJG
Large Void Bot
22 May 15 10:00:17
Popular: $BA, $CI, $FXCM, $SFLY, $BOX, $OLED, $GWW, $GSK, $XL, $QUNR, $FIBK, $PBPB, $EGO
Evan Bando
22 May 15 09:50:30
@ReformedBroker Summer stock: if not Midsummer Night's Dream, $PBPB They're shrinking expenses by closing stores...breakout! Kidding.
StockNewsWires
22 May 15 09:24:02
$PBPB: New Insider Transaction on PBPB by 10%+ Owner: http://t.co/NU05tMcaBz
Insider Filings
22 May 15 09:23:14
$PBPB: KEIL BRYANT L sold a net $69,900 in POTBELLY CORP. http://t.co/owd5tJBTSl
Insider Alerts
22 May 15 09:23:06
NEW insider transaction on $PBPB reported a moment ago: http://t.co/iYNtZMZHkj
Restaurant Marketing
22 May 15 06:47:14
RT @NRNonline: Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/msUJFb1sVB @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co…
Jayna Fey
22 May 15 06:32:04
RT @NRNonline: Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/msUJFb1sVB @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co…
Restaurant News
22 May 15 06:30:26
Blog: Will an IPO lift a #restaurant chain's sales? http://t.co/msUJFb1sVB @JonathanMaze $FRSH $PBPB $HABT $SHAK http://t.co/urV73cqbNr
Capital Market Labs
21 May 15 03:06:42
$PBPB EPS is Accelerating. #CML_PBPB #CML_EPS http://t.co/yNHSNjkltG http://t.co/Miv0awnCCw
NEDworks
20 May 15 10:03:29
RT @talent4boards: Potbelly appoints Carl Warschausky to #BoardOfDirectors http://t.co/lzHgQr8oaG $PBPB #CorpGov #NonExec @Potbelly
ProfessionalDirector
20 May 15 10:02:01
RT @talent4boards: Potbelly appoints Carl Warschausky to #BoardOfDirectors http://t.co/lzHgQr8oaG $PBPB #CorpGov #NonExec @Potbelly
excellencia
20 May 15 10:00:36
RT @talent4boards: Potbelly appoints Carl Warschausky to #BoardOfDirectors http://t.co/lzHgQr8oaG $PBPB #CorpGov #NonExec @Potbelly
WholeBoardDevelopmnt
20 May 15 09:30:58
RT @talent4boards: Potbelly appoints Carl Warschausky to #BoardOfDirectors http://t.co/lzHgQr8oaG $PBPB #CorpGov #NonExec @Potbelly
Talent4Boards
20 May 15 09:25:07
Potbelly appoints Carl Warschausky to #BoardOfDirectors http://t.co/lzHgQr8oaG $PBPB #CorpGov #NonExec @Potbelly
Nicole Sinclair
19 May 15 10:47:08
$RRGB big day post mixed perf.Newish resto names $PBPB, $NDLS, $CHUY= big debuts + disappointment. Replaced enthusiasm for $HABT & $SHAK?
ProTradersNews
19 May 15 06:10:02
$PBPB: New SEC Filing for PBPB: Form 8-K (No. 0001193125-15-192856): http://t.co/r0HPRPt9UE
SEC Filings
19 May 15 06:09:06
NEW SEC Filing for $PBPB filed a moment ago: http://t.co/KpGRvNFCHb http://t.co/FFpYUZvlAq
Capital Market Labs
19 May 15 01:17:56
$PBPB Revenue is Growing. #CML_PBPB #CML_Revenue http://t.co/9X4iTjbwq4 http://t.co/P2AsioDfnZ
StockNewsWires
18 May 15 15:29:02
$PBPB: New Insider Transaction on PBPB by Director: http://t.co/jpsb6sz9qh
Insider Alerts
18 May 15 15:28:05
NEW insider transaction on $PBPB reported a moment ago: http://t.co/X9MVmi2Cvz
				
				
By  +Follow October 4, 2013 6:16AM
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