Portillo’s (NASDAQ:PTLO) Coverage Initiated at DA Davidson

Research analysts at DA Davidson assumed coverage on shares of Portillo’s (NASDAQ:PTLO) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set a “neutral” rating and a $5.50 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 8.27% from the stock’s previous close.

PTLO has been the topic of a number of other reports. Morgan Stanley set a $7.00 price target on Portillo’s in a research note on Tuesday, January 20th. UBS Group decreased their price objective on Portillo’s from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Piper Sandler lifted their target price on shares of Portillo’s from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portillo’s in a report on Monday, December 22nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $6.00 target price (down from $8.00) on shares of Portillo’s in a research report on Wednesday, January 7th. Three research 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.50.

Portillo’s Stock Performance

NASDAQ:PTLO opened at $5.08 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.22 and a current ratio of 0.27. The stock has a market capitalization of $382.93 million, a PE ratio of 18.81, a P/E/G ratio of 1.90 and a beta of 1.75. Portillo’s has a fifty-two week low of $4.41 and a fifty-two week high of $14.40. The company has a fifty day moving average of $5.40 and a two-hundred day moving average of $5.59.

Portillo’s (NASDAQ:PTLO) last announced its earnings results on Tuesday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $185.75 million for the quarter, compared to analyst estimates of $185.50 million. Portillo’s had a net margin of 2.64% and a return on equity of 3.93%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 earnings per share. As a group, research analysts forecast that Portillo’s will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portillo’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. Alpine Global Management LLC acquired a new position in shares of Portillo’s in the 4th quarter valued at $89,000. Aristides Capital LLC acquired a new stake in shares of Portillo’s during the 4th quarter worth about $197,000. Virtu Financial LLC purchased a new stake in Portillo’s in the 4th quarter valued at about $192,000. Invesco Ltd. raised its holdings in Portillo’s by 53.2% in the 4th quarter. Invesco Ltd. now owns 224,209 shares of the company’s stock valued at $1,018,000 after buying an additional 77,852 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Portillo’s in the fourth quarter valued at about $74,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Portillo’s

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.