Portillo’s Inc. (NASDAQ:PTLO) Receives $7.50 Consensus Target Price from Brokerages

Portillo’s Inc. (NASDAQ:PTLO) has earned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.50.

Several research firms recently issued reports on PTLO. Wolfe Research started coverage on Portillo’s in a research report on Monday, March 9th. They set a “peer perform” rating on the stock. Morgan Stanley set a $7.00 price objective on shares of Portillo’s in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Portillo’s in a research note on Monday, December 22nd. Piper Sandler increased their target price on shares of Portillo’s from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, UBS Group reduced their price target on shares of Portillo’s from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th.

Insiders Place Their Bets

In other Portillo’s news, Director Eugene I. Lee, Jr. bought 286,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $5.18 per share, with a total value of $1,481,480.00. Following the completion of the acquisition, the director directly owned 416,250 shares of the company’s stock, valued at approximately $2,156,175. The trade was a 219.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.14% of the stock is currently owned by company insiders.

Institutional Trading of Portillo’s

A number of institutional investors and hedge funds have recently made changes to their positions in PTLO. Royal Bank of Canada boosted its position in Portillo’s by 731.1% during the 1st quarter. Royal Bank of Canada now owns 156,710 shares of the company’s stock valued at $1,864,000 after purchasing an additional 137,854 shares during the period. AQR Capital Management LLC acquired a new stake in Portillo’s in the first quarter worth $318,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Portillo’s by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,550 shares of the company’s stock valued at $387,000 after buying an additional 1,808 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Portillo’s by 135.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,596 shares of the company’s stock valued at $30,000 after acquiring an additional 1,495 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Portillo’s by 3.9% during the second quarter. Geode Capital Management LLC now owns 1,400,892 shares of the company’s stock valued at $16,350,000 after acquiring an additional 52,875 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Portillo’s Stock Up 3.0%

Shares of Portillo’s stock opened at $5.56 on Friday. The business has a 50-day moving average price of $5.50 and a 200 day moving average price of $5.41. Portillo’s has a fifty-two week low of $4.41 and a fifty-two week high of $13.55. The firm has a market cap of $419.82 million, a P/E ratio of 20.59, a P/E/G ratio of 1.94 and a beta of 1.68. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.48.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, February 24th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $185.75 million for the quarter, compared to the consensus estimate of $185.50 million. Portillo’s had a return on equity of 3.93% and a net margin of 2.64%.Portillo’s’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, sell-side analysts forecast that Portillo’s will post 0.35 earnings per share for the current fiscal year.

Portillo’s Company Profile

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.