Portillo’s (NASDAQ:PTLO) PT Lowered to $17.00

Portillo’s (NASDAQ:PTLO) had its price objective dropped by stock analysts at Bank of America from $20.00 to $17.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 74.18% from the stock’s previous close.

A number of other analysts have also issued reports on PTLO. UBS Group lowered their target price on Portillo’s from $18.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Piper Sandler lowered their target price on Portillo’s from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Robert W. Baird decreased their price objective on Portillo’s from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Stifel Nicolaus decreased their price objective on Portillo’s from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Finally, Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of Portillo’s in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.13.

Portillo’s Stock Performance

PTLO traded down $0.12 during midday trading on Wednesday, reaching $9.76. The company’s stock had a trading volume of 620,311 shares, compared to its average volume of 1,052,296. The stock has a market cap of $712.19 million, a P/E ratio of 24.40, a PEG ratio of 5.06 and a beta of 1.73. The company has a fifty day simple moving average of $9.93 and a 200 day simple moving average of $12.25. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.62. Portillo’s has a twelve month low of $8.90 and a twelve month high of $23.75.

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

Hedge Funds Weigh In On Portillo’s

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. lifted its position in shares of Portillo’s by 28.6% during the 4th quarter. Assetmark Inc. now owns 3,222 shares of the company’s stock worth $51,000 after buying an additional 717 shares during the period. Ascent Group LLC lifted its position in shares of Portillo’s by 8.3% during the 1st quarter. Ascent Group LLC now owns 13,100 shares of the company’s stock worth $186,000 after buying an additional 1,000 shares during the period. International Assets Investment Management LLC raised its position in Portillo’s by 1,493.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,593 shares of the company’s stock valued at $25,000 after purchasing an additional 1,493 shares during the last quarter. Y.D. More Investments Ltd raised its position in Portillo’s by 31.6% in the 4th quarter. Y.D. More Investments Ltd now owns 6,250 shares of the company’s stock valued at $100,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its position in Portillo’s by 7.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 22,592 shares of the company’s stock valued at $220,000 after purchasing an additional 1,555 shares during the last quarter. 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.