Analysts Set Portillo’s Inc. (NASDAQ:PTLO) Price Target at $7.02

Portillo’s Inc. (NASDAQ:PTLO) has been given a consensus rating of “Hold” by the fourteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.0227.

Several research firms have issued reports on PTLO. Piper Sandler decreased their price target on shares of Portillo’s from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Stifel Nicolaus decreased their price objective on shares of Portillo’s from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Portillo’s from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $5.25 price objective on shares of Portillo’s in a research note on Wednesday, May 6th. Finally, Roth Mkm set a $8.00 price objective on shares of Portillo’s in a research note on Wednesday, May 6th.

Portillo’s Stock Performance

Portillo’s stock opened at $4.03 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.22 and a current ratio of 0.26. The firm has a market cap of $305.50 million, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 0.60 and a beta of 1.72. Portillo’s has a 1 year low of $3.81 and a 1 year high of $12.44. The firm’s 50 day moving average price is $5.27 and its two-hundred day moving average price is $5.19.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $182.62 million during the quarter, compared to analyst estimates of $183.27 million. Portillo’s had a return on equity of 3.17% and a net margin of 2.12%.The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. On average, research analysts predict that Portillo’s will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eugene I. Lee, Jr. acquired 286,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $5.18 per share, with a total value of $1,481,480.00. Following the purchase, the director owned 416,250 shares of the company’s stock, valued at approximately $2,156,175. This trade represents a 219.58% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.34% of the company’s stock.

Hedge Funds Weigh In On Portillo’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. Royal Bank of Canada boosted its stake in Portillo’s by 731.1% in the 1st quarter. Royal Bank of Canada now owns 156,710 shares of the company’s stock worth $1,864,000 after purchasing an additional 137,854 shares during the period. AQR Capital Management LLC acquired a new position in Portillo’s in the 1st quarter worth approximately $318,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Portillo’s by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,550 shares of the company’s stock worth $387,000 after purchasing an additional 1,808 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Portillo’s during the 2nd quarter valued at $145,000. Finally, Legal & General Group Plc boosted its stake in shares of Portillo’s by 45.4% during the 2nd quarter. Legal & General Group Plc now owns 74,056 shares of the company’s stock valued at $864,000 after buying an additional 23,115 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Portillo’s Company Profile

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.