Portillo’s (NASDAQ:PTLO) Given New $13.00 Price Target at UBS Group

Portillo’s (NASDAQ:PTLO) had its price objective dropped by equities researchers at UBS Group from $18.00 to $13.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 21.04% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Morgan Stanley dropped their price objective on Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, April 12th. Robert W. Baird reduced their price objective on Portillo’s from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Portillo’s in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.17.

Portillo’s Stock Performance

Shares of NASDAQ PTLO traded up $0.13 during trading hours on Wednesday, hitting $10.74. 351,004 shares of the company’s stock were exchanged, compared to its average volume of 943,203. Portillo’s has a 1-year low of $10.27 and a 1-year high of $23.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.40 and a quick ratio of 0.32. The stock has a market capitalization of $783.70 million, a price-to-earnings ratio of 34.06, a PEG ratio of 1.56 and a beta of 1.86. The company’s 50-day moving average price is $13.08 and its 200-day moving average price is $14.25.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $165.83 million during the quarter, compared to the consensus estimate of $174.90 million. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. On average, sell-side analysts expect that Portillo’s will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Portillo’s

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Portillo’s by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,523,034 shares of the company’s stock worth $69,609,000 after purchasing an additional 57,451 shares during the period. Blair William & Co. IL increased its stake in Portillo’s by 10.7% during the 3rd quarter. Blair William & Co. IL now owns 2,495,995 shares of the company’s stock worth $38,413,000 after acquiring an additional 241,069 shares during the period. Principal Financial Group Inc. increased its stake in Portillo’s by 22.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company’s stock worth $22,300,000 after acquiring an additional 286,618 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of Portillo’s by 33.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock valued at $21,099,000 after purchasing an additional 334,731 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of Portillo’s by 2.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 627,555 shares of the company’s stock valued at $9,997,000 after purchasing an additional 13,325 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

About Portillo’s

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.