Portillo’s (NASDAQ:PTLO) Price Target Raised to $7.00

Portillo’s (NASDAQ:PTLO) had its price objective lifted by UBS Group from $4.50 to $7.00 in a research report report published on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other analysts have also recently commented on PTLO. Wall Street Zen upgraded Portillo’s from a “sell” rating to a “hold” rating in a research report on Sunday. Robert W. Baird raised Portillo’s to a “hold” rating in a research note on Monday, August 24th. DA Davidson raised their target price on shares of Portillo’s from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Portillo’s in a research report on Friday, October 30th. Finally, Stephens lifted their price target on Portillo’s from $5.00 to $7.00 and gave the company an “equal weight” rating in a report on Friday, November 6th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.41.

Portillo’s Price Performance

PTLO stock opened at $7.09 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.27 and a quick ratio of 0.20. The firm has a market capitalization of $538.41 million, a PE ratio of 32.23, a price-to-earnings-growth ratio of 6.33 and a beta of 1.51. The business has a 50 day simple moving average of $4.45 and a 200-day simple moving average of $4.85. Portillo’s has a 1 year low of $3.29 and a 1 year high of $7.19.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $194.07 million for the quarter, compared to the consensus estimate of $193.18 million. Portillo’s had a return on equity of 3.39% and a net margin of 2.25%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. Equities research analysts anticipate that Portillo’s will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Engaged Capital LLC increased its position in shares of Portillo’s by 124.3% during the first quarter. Engaged Capital LLC now owns 3,442,990 shares of the company’s stock worth $18,213,000 after acquiring an additional 1,908,000 shares in the last quarter. State Street Corp boosted its position in shares of Portillo’s by 12.9% in the second quarter. State Street Corp now owns 1,454,163 shares of the company’s stock valued at $6,893,000 after acquiring an additional 166,617 shares during the period. Bank of America Corp DE grew its holdings in shares of Portillo’s by 3.3% during the 1st quarter. Bank of America Corp DE now owns 704,602 shares of the company’s stock worth $3,727,000 after purchasing an additional 22,744 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Portillo’s by 1.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 263,381 shares of the company’s stock worth $1,393,000 after buying an additional 2,487 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Portillo’s by 10.0% in the 1st quarter. Empowered Funds LLC now owns 250,227 shares of the company’s stock worth $1,324,000 after purchasing an additional 22,733 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

About Portillo’s

Portillo’s operates fast-casual restaurants known for Chicago-style food. Its menu features Chicago-style hot dogs, Italian beef sandwiches, char-grilled burgers, salads, ribs, chocolate cake and milkshakes. The company began in 1963, when founder Dick Portillo opened a hot dog stand called The Dog House in Villa Park, Illinois. It has since grown into a restaurant chain serving customers in Illinois and other U.S. states, including Arizona, Florida, Indiana, Iowa, Michigan, Texas and Wisconsin.