Portillo’s (NASDAQ:PTLO) Stock Price Target Raised at DA Davidson

Portillo’s (NASDAQ:PTLO) had its price objective upped by DA Davidson from $5.00 to $7.00 in a research report report published on Friday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

PTLO has been the topic of a number of other reports. Robert W. Baird raised Portillo’s to a “hold” rating in a research note on Monday, August 24th. Stephens increased their price objective on Portillo’s from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Portillo’s in a report on Friday, October 30th. Wall Street Zen cut shares of Portillo’s from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Finally, UBS Group dropped their target price on shares of Portillo’s from $5.50 to $4.50 and set a “neutral” rating for the company in a report on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Portillo’s currently has a consensus rating of “Hold” and an average price target of $6.09.

Portillo’s Price Performance

Portillo’s stock traded down $0.38 during midday trading on Friday, reaching $6.64. The company had a trading volume of 3,822,770 shares, compared to its average volume of 2,045,985. The company has a market capitalization of $504.24 million, a P/E ratio of 30.18, a P/E/G ratio of 4.57 and a beta of 1.51. Portillo’s has a 12-month low of $3.29 and a 12-month high of $7.02. The firm’s fifty day simple moving average is $4.31 and its 200-day simple moving average is $4.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.26 and a quick ratio of 0.20.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. Portillo’s had a return on equity of 2.78% and a net margin of 1.85%. The company had revenue of $194.07 million during the quarter, compared to analyst estimates of $193.18 million. During the same period in the previous year, the business earned $0.02 EPS. Portillo’s’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Portillo’s will post 0.19 EPS for the current year.

Insider Buying and Selling at Portillo’s

In related news, Director I Jr bought 65,355 shares of the stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $4.59 per share, for a total transaction of $299,979.45. Following the acquisition, the director directly owned 551,770 shares in the company, valued at approximately $2,532,624.30. This trade represents a 13.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Portillo’s

Several hedge funds and other institutional investors have recently made changes to their positions in PTLO. Engaged Capital LLC lifted its position in 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 buying an additional 1,908,000 shares in the last quarter. State Street Corp boosted its stake in Portillo’s by 12.9% during the second quarter. State Street Corp now owns 1,454,163 shares of the company’s stock worth $6,893,000 after buying an additional 166,617 shares during the last quarter. Bank of America Corp DE boosted its stake in Portillo’s by 3.3% during the first quarter. Bank of America Corp DE now owns 704,602 shares of the company’s stock worth $3,727,000 after buying an additional 22,744 shares during the last quarter. Corient Private Wealth LP grew its holdings in Portillo’s by 501.5% in the 2nd quarter. Corient Private Wealth LP now owns 269,248 shares of the company’s stock valued at $1,276,000 after buying an additional 224,486 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in Portillo’s by 1.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 263,381 shares of the company’s stock valued at $1,393,000 after buying an additional 2,487 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Key Portillo’s News

Here are the key news stories impacting Portillo’s this week:

• Positive Sentiment: Portillo’s reported third-quarter adjusted earnings of $0.06 per share, ahead of analyst estimates, while revenue rose 7% year over year to $194.1 million, slightly above consensus. The company also raised its full-year outlook. Portillo’s Shares Up 20%, Raises FY Outlook
• Positive Sentiment: Management introduced a strategic reset focused on improving profitability, and positive comparable sales were seen as an encouraging early sign. Portillo’s rallies after earnings and unveiling a new strategic plan
• Positive Sentiment: Analysts raised forecasts after the results. DA Davidson and Stephens each lifted their price target to $7, though both retained neutral or equal-weight ratings. Analysts Increase Forecasts
• Neutral Sentiment: A Seeking Alpha upgrade acknowledged the better comps but cautioned that Portillo’s still has work to do; the raised $7 targets also imply only limited upside from the quoted share price. Positive Comps Are a Good First Step

Portillo’s Company Profile

Portillo’s, Inc operates a chain of fast-casual restaurants known for Chicago-style food. Its menu features Italian beef and Italian sausage sandwiches, Chicago-style hot dogs, hamburgers, chicken sandwiches, salads, french fries, shakes and other desserts.

The company traces its origins to 1963, when Dick Portillo opened a small hot dog stand called The Dog House in Villa Park, Illinois. Portillo’s has since expanded from its Chicago-area roots into a multi-state restaurant business, with locations primarily in the United States.