Portillo’s’ (PTLO) Overweight Rating Reiterated at Stephens

Portillo’s (NASDAQ:PTLO)‘s stock had its “overweight” rating restated by investment analysts at Stephens in a report issued on Tuesday, Benzinga reports. They currently have a $13.00 price objective on the stock. Stephens’ target price indicates a potential upside of 34.58% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Morgan Stanley dropped their price objective on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. UBS Group decreased their price objective on shares of Portillo’s from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Robert W. Baird lowered their price objective on shares of Portillo’s from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Piper Sandler dropped their price objective on shares of Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Finally, Bank of America lowered their target price on Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.25.

Portillo’s Price Performance

Shares of NASDAQ PTLO traded up $0.78 during trading on Tuesday, hitting $9.66. 1,022,818 shares of the company were exchanged, compared to its average volume of 1,054,539. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.36 and a quick ratio of 0.29. Portillo’s has a 1 year low of $8.66 and a 1 year high of $19.89. The company has a market cap of $704.94 million, a price-to-earnings ratio of 24.20, a PEG ratio of 5.52 and a beta of 1.73. The firm’s fifty day moving average price is $9.81 and its 200 day moving average price is $11.80.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Portillo’s had a net margin of 3.41% and a return on equity of 5.23%. The firm had revenue of $165.83 million for the quarter, compared to the consensus estimate of $174.90 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Portillo’s will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portillo’s

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in Portillo’s by 24.9% in the 2nd quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock worth $159,000 after buying an additional 3,261 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Portillo’s by 218.1% in the second quarter. Victory Capital Management Inc. now owns 63,591 shares of the company’s stock worth $618,000 after acquiring an additional 43,602 shares during the last quarter. Rhumbline Advisers grew its holdings in Portillo’s by 24.7% in the second quarter. Rhumbline Advisers now owns 75,392 shares of the company’s stock valued at $733,000 after purchasing an additional 14,948 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Portillo’s during the second quarter worth approximately $236,000. Finally, Principal Financial Group Inc. raised its stake in Portillo’s by 2.5% during the second quarter. Principal Financial Group Inc. now owns 1,612,114 shares of the company’s stock worth $15,670,000 after purchasing an additional 39,466 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Portillo’s Company Profile

Portillo's Inc owns and operates fast casual restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, char-grilled burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and chocolate cake shake. It offers its products through its website, application, and certain third-party platforms.