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

Key Points

• Stephens raised its price target on Portillo’s from $5 to $7 while maintaining an “equal weight” rating; the target implies about 0.28% downside from the then-current share price.
• Analyst sentiment is broadly neutral: the consensus rating is “Hold,” based on two Buy, eight Hold, and one Sell rating, with an average price target of $5.91.
• Portillo’s beat quarterly estimates, reporting earnings per share of $0.06 versus $0.03 expected and revenue of $194.07 million, up 7% year over year.

Portillo's (NASDAQ:PTLO - Get Free Report) had its target price raised by equities researchers at Stephens from $5.00 to $7.00 in a report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Stephens's target price indicates a potential downside of 0.28% from the company's current price.

A number of other equities analysts also recently weighed in on PTLO. UBS Group dropped their price target on shares of Portillo's from $5.50 to $4.50 and set a "neutral" rating on the stock in a research note on Friday, October 9th. Weiss Ratings reissued a "sell (d)" rating on shares of Portillo's in a research report on Friday, October 30th. Robert W. Baird raised Portillo's to a "hold" rating in a research report on Monday, August 24th. Finally, Wall Street Zen downgraded Portillo's from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $5.91.

Portillo's Stock Up 28.8%

PTLO stock opened at $7.02 on Friday. Portillo's has a 12 month low of $3.29 and a 12 month high of $7.02. The firm has a market cap of $533.12 million, a PE ratio of 39.00, a P/E/G ratio of 4.81 and a beta of 1.51. The firm has a 50 day simple moving average of $4.26 and a 200 day simple moving average of $4.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.26 and a quick ratio of 0.20.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $194.07 million during the quarter, compared to analysts' expectations of $193.18 million. Portillo's had a net margin of 1.85% and a return on equity of 2.78%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities research analysts forecast that Portillo's will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Portillo's

In related news, Director I Jr acquired 65,355 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $4.59 per share, for a total transaction of $299,979.45. Following the acquisition, the director owned 551,770 shares in the company, valued at $2,532,624.30. This trade represents a 13.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.34% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Essential Partners LLC boosted its stake in Portillo's by 83,350.0% in the 1st quarter. Essential Partners LLC now owns 5,007 shares of the company's stock valued at $26,000 after buying an additional 5,001 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Portillo's in the third quarter valued at $68,000. Russell Investments Group Ltd. grew its position in Portillo's by 283.1% in the second quarter. Russell Investments Group Ltd. now owns 36,556 shares of the company's stock valued at $173,000 after acquiring an additional 27,014 shares during the period. Deutsche Bank AG raised its stake in Portillo's by 29.5% during the second quarter. Deutsche Bank AG now owns 65,667 shares of the company's stock worth $311,000 after acquiring an additional 14,973 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Portillo's by 132.1% during the first quarter. Sei Investments Co. now owns 70,622 shares of the company's stock worth $374,000 after acquiring an additional 40,200 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

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.

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