Portillo’s (NASDAQ:PTLO) Cut to “Equal Weight” at Stephens

by · The Markets Daily

Stephens lowered shares of Portillo’s (NASDAQ:PTLO – Free Report) from an overweight rating to an equal weight rating in a report released on Monday morning, Marketbeat Ratings reports. The firm currently has $13.00 target price on the stock.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus cut their price objective on Portillo’s from $15.00 to $13.00 and set a buy rating on the stock in a report on Friday, July 12th. Morgan Stanley cut their price target on shares of Portillo’s from $15.00 to $13.00 and set an equal weight rating on the stock in a report on Tuesday, July 16th. Bank of America decreased their price objective on shares of Portillo’s from $20.00 to $17.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Finally, Piper Sandler cut their price objective on shares of Portillo’s from $14.00 to $13.00 and set an overweight rating on the stock in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Portillo’s has a consensus rating of Moderate Buy and a consensus price target of $13.86.

View Our Latest Research Report on PTLO

Portillo’s Stock Down 1.1 %

NASDAQ:PTLO opened at $12.27 on Monday. The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60. Portillo’s has a twelve month low of $8.66 and a twelve month high of $16.98. The company has a market cap of $895.40 million, a PE ratio of 30.68, a P/E/G ratio of 16.16 and a beta of 1.78. The company’s 50 day moving average is $12.07 and its two-hundred day moving average is $11.29.

Portillo’s (NASDAQ:PTLO – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $181.86 million for the quarter, compared to analysts’ expectations of $184.44 million. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. Portillo’s’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. Analysts anticipate that Portillo’s will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Portillo’s

Several institutional investors have recently made changes to their positions in the company. Ascent Group LLC grew its position in Portillo’s by 8.3% during the first quarter. Ascent Group LLC now owns 13,100 shares of the company’s stock valued at $186,000 after buying an additional 1,000 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of Portillo’s by 7.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 22,592 shares of the company’s stock worth $220,000 after acquiring an additional 1,555 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Portillo’s by 17.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock valued at $184,000 after acquiring an additional 1,917 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Portillo’s by 241.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock valued at $54,000 after purchasing an additional 2,694 shares in the last quarter. Finally, Select Equity Group L.P. raised its holdings in Portillo’s by 2.6% in the 2nd quarter. Select Equity Group L.P. now owns 112,424 shares of the company’s stock worth $1,093,000 after purchasing an additional 2,897 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

About Portillo’s

(Get Free Report)

Portillo’s Inc owns and operates fast casual restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, char-grilled burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and chocolate cake shake. It offers its products through its website, application, and certain third-party platforms.

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