Brokerages Set Portillo’s Inc. (NASDAQ:PTLO) Price Target at $5.92

Shares of Portillo’s Inc. (NASDAQ:PTLO) have received an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.9250.

A number of equities research analysts recently commented on PTLO shares. Roth Capital set a $8.00 price target on Portillo’s in a research report on Wednesday, May 6th. Stephens set a $5.00 target price on shares of Portillo’s in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Portillo’s in a report on Monday. Morgan Stanley dropped their price target on shares of Portillo’s from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Finally, Piper Sandler cut their price target on shares of Portillo’s from $8.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th.

Portillo’s Price Performance

PTLO stock opened at $4.67 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.26. The business has a 50-day simple moving average of $4.46 and a two-hundred day simple moving average of $5.04. The company has a market capitalization of $354.03 million, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 0.84 and a beta of 1.56. Portillo’s has a 52-week low of $3.78 and a 52-week high of $8.21.

Portillo’s (NASDAQ:PTLO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $198.95 million during the quarter, compared to the consensus estimate of $199.22 million. Portillo’s had a return on equity of 3.17% and a net margin of 2.12%.The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. Research analysts expect that Portillo’s will post 0.23 EPS for the current fiscal year.

Insider Activity at Portillo’s

In other news, Director Eugene I. Lee, Jr. bought 70,165 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $4.28 per share, with a total value of $300,306.20. Following the transaction, the director directly owned 486,415 shares in the company, valued at $2,081,856.20. This represents a 16.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Portillo’s

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its stake in Portillo’s by 731.1% in 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 bought a new stake in shares of Portillo’s during the 1st quarter worth $318,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Portillo’s by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,550 shares of the company’s stock worth $387,000 after buying an additional 1,808 shares during the last quarter. Cetera Investment Advisers bought a new position in Portillo’s during the second quarter valued at about $145,000. Finally, Legal & General Group Plc grew its position in Portillo’s by 45.4% during the second quarter. Legal & General Group Plc now owns 74,056 shares of the company’s stock valued at $864,000 after buying an additional 23,115 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

About Portillo’s

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.