Portillo’s (NASDAQ:PTLO) Price Target Cut to $16.00

Portillo’s (NASDAQ:PTLO) had its price target decreased by research analysts at Morgan Stanley from $17.00 to $16.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 23.84% from the stock’s previous close.

Separately, Stephens assumed coverage on shares of Portillo’s in a report on Friday. They issued an “overweight” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.43.

Portillo’s Stock Performance

NASDAQ:PTLO opened at $12.92 on Friday. The company’s 50-day moving average price is $13.67 and its 200-day moving average price is $14.61. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 0.62. The company has a market cap of $942.84 million, a P/E ratio of 41.68, a P/E/G ratio of 1.59 and a beta of 1.85. Portillo’s has a twelve month low of $12.57 and a twelve month high of $23.99.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.08. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The firm had revenue of $187.86 million during the quarter, compared to analysts’ expectations of $184.95 million. During the same period last year, the business earned $0.08 earnings per share. Portillo’s’s revenue was up 24.5% compared to the same quarter last year. On average, sell-side analysts forecast that Portillo’s will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Portillo’s

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake 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 buying an additional 1,493 shares during the period. Comerica Bank acquired a new position in Portillo’s in the 3rd quarter valued at $28,000. State of Wyoming acquired a new position in Portillo’s in the 2nd quarter valued at $29,000. NBC Securities Inc. acquired a new position in Portillo’s in the 3rd quarter valued at $35,000. Finally, Harbour Investments Inc. increased its stake in Portillo’s by 310.2% in the 4th quarter. Harbour Investments Inc. now owns 2,625 shares of the company’s stock valued at $42,000 after buying an additional 1,985 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.