Portillo’s (NASDAQ:PTLO) Given New $7.00 Price Target at Stephens

Portillo’s (NASDAQ:PTLO) had its price objective upped by Stephens from $5.00 to $7.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Portillo’s from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. UBS Group reduced their target price on shares of Portillo’s from $5.50 to $4.50 and set a “neutral” rating on the stock in a report on Friday, October 9th. Robert W. Baird upgraded shares of Portillo’s to a “hold” rating in a research report on Monday, August 24th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Portillo’s in a research note on Friday, October 30th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.09.

Portillo’s Price Performance

PTLO stock traded down $0.38 during mid-day trading on Friday, hitting $6.64. 3,822,770 shares of the stock were exchanged, compared to its average volume of 2,045,985. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.26 and a quick ratio of 0.20. The business has a fifty day moving average price of $4.31 and a 200 day moving average price of $4.83. Portillo’s has a 12 month low of $3.29 and a 12 month high of $7.02. The stock has a market capitalization of $504.24 million, a price-to-earnings ratio of 30.18, a PEG ratio of 4.57 and a beta of 1.51.

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

Insider Activity

In other Portillo’s news, Director I Jr bought 65,355 shares of the stock in a transaction dated Wednesday, August 12th. The stock was purchased 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 of the company’s stock, valued at approximately $2,532,624.30. This trade represents a 13.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.34% of the stock is currently owned by insiders.

Institutional Trading of Portillo’s

A number of large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in Portillo’s in the 3rd quarter worth $68,000. State Street Corp increased 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 acquiring an additional 166,617 shares during the last quarter. Capstone Financial Advisors Inc. raised its holdings in Portillo’s by 34.0% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 78,745 shares of the company’s stock valued at $373,000 after buying an additional 20,000 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Portillo’s by 8.7% in the 2nd quarter. Squarepoint Ops LLC now owns 131,888 shares of the company’s stock worth $625,000 after acquiring an additional 10,570 shares during the last quarter. Finally, Corient Private Wealth LP boosted its position in shares of Portillo’s by 501.5% during the second 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 during the period. 98.34% of the stock is currently owned by institutional investors.

More 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

About Portillo’s

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.