Portillo’s Inc. (NASDAQ:PTLO) Receives $5.92 Average Target Price from Brokerages

Portillo’s Inc. (NASDAQ:PTLO) has received an average rating of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat reports. One equities 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 target price among brokerages that have covered the stock in the last year is $5.9250.

A number of brokerages have recently weighed in on PTLO. Wall Street Zen upgraded Portillo’s from a “sell” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus reduced their price objective on Portillo’s from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley reduced their price objective on Portillo’s from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Guggenheim lowered Portillo’s from a “buy” rating to a “neutral” rating in a research report on Thursday, May 7th. Finally, Robert W. Baird raised Portillo’s to a “hold” rating in a research note on Monday, August 24th.

Portillo’s Stock Up 4.9%

Shares of Portillo’s stock opened at $4.70 on Wednesday. Portillo’s has a 12-month low of $3.78 and a 12-month high of $7.12. The firm has a market capitalization of $356.92 million, a PE ratio of 26.11, a price-to-earnings-growth ratio of 0.97 and a beta of 1.56. The company has a quick ratio of 0.20, a current ratio of 0.26 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $4.65 and its 200-day moving average is $4.92.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Portillo’s had a net margin of 1.85% and a return on equity of 2.78%. The business had revenue of $198.95 million for the quarter, compared to analyst estimates of $199.22 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities analysts anticipate that Portillo’s will post 0.19 earnings per share for the current year.

Insider Activity at Portillo’s

In related news, Director Eugene I. Lee, Jr. purchased 65,355 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average cost of $4.59 per share, for a total transaction of $299,979.45. Following the completion of the acquisition, the director owned 551,770 shares in the company, valued at $2,532,624.30. This trade represents a 13.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.34% of the company’s stock.

Institutional Investors Weigh In On Portillo’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd boosted its stake in shares of Portillo’s by 2.3% during the 4th quarter. Orbis Allan Gray Ltd now owns 6,994,844 shares of the company’s stock valued at $31,757,000 after buying an additional 155,205 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Portillo’s by 16.8% during the 2nd quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company’s stock valued at $67,428,000 after acquiring an additional 830,460 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Portillo’s by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 3,563,600 shares of the company’s stock worth $41,587,000 after acquiring an additional 149,931 shares during the last quarter. Engaged Capital LLC increased its stake in shares of Portillo’s by 124.3% in 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 during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Portillo’s during the fourth quarter worth $10,350,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.