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Bull of the Day: Potbelly's (PBPB)

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Finally risk assets are back en vogue. It’s help set off a rally across the board. With the huge numbers of the last couple days, it might feel like the dart board approach is back. Sure, that might work for a few weeks, but eventually, the cream will rise to the top. Stocks with the strongest earnings trends have the highest likelihood of continued profits.

One way to uncover these trends is by leaning on the Zacks Rank. Today’s Bull of the Day is a stock in the good graces of our Zacks Rank. It’s sandwich restaurant Potbelly’s (PBPB - Free Report) . Potbelly Corporation is a neighborhood sandwich concept. The Company manages establishments for consuming food on premises to offers sandwiches, salads, soups, chili, chips, cookies, ice cream, and smoothies. It serves customers throughout the United States. Potbelly Corporation is headquartered in Chicago, Illinois.

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The reason for the favorable Zacks Rank is the recent positive earnings estimate revisions coming from analysts. Over the last sixty days, analysts have been upping the ante for the current year and next year. The bullish moves have pushed up our Zacks Consensus Estimates for the current year from a 33-cent loss to a small 3-cent loss. Next year’s EPS number is up from a 9-cent loss to a 5-cent profit.

That hasn’t helped the stock much. Shares have dropped significantly since their June 2021 highs above $9. Nearly half that now, the stock trades at $5.19 while the 52-week high is just above $7. Technical pressures remain above at the 50 and 200-day which are both negatively sloped. A four-day rally has the stock up over 7%.


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