Portillo's (NASDAQ:PTLO) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Portillo’s from “sell” to “hold,” while the broader analyst consensus remains “Hold,” with a $5.92 average price target.
• Portillo’s shares opened at $4.42, near their 52-week low of $3.78 and below the 50-day and 200-day moving averages.
• The company met quarterly earnings expectations at $0.09 per share, while revenue rose 5.6% year over year to $198.95 million; a director also purchased nearly $300,000 worth of shares.

Portillo's (NASDAQ:PTLO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

A number of other brokerages have also issued reports on PTLO. Weiss Ratings reiterated a "sell (d)" rating on shares of Portillo's in a research note on Monday, August 3rd. Robert W. Baird raised shares of Portillo's to a "hold" rating in a research note on Monday, August 24th. Finally, Stephens restated an "equal weight" rating and issued a $5.00 price objective on shares of Portillo's in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.92.

Portillo's Stock Up 0.5%

Shares of NASDAQ PTLO opened at $4.42 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.26 and a debt-to-equity ratio of 0.46. The business's 50 day moving average is $4.67 and its two-hundred day moving average is $4.88. Portillo's has a 52-week low of $3.78 and a 52-week high of $6.98. The firm has a market cap of $335.67 million, a price-to-earnings ratio of 24.56, a PEG ratio of 0.95 and a beta of 1.56.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Portillo's had a return on equity of 2.78% and a net margin of 1.85%.The business had revenue of $198.95 million during the quarter, compared to analysts' expectations of $199.22 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The company's revenue was up 5.6% on a year-over-year basis. Research analysts predict that Portillo's will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director I Jr bought 65,355 shares of Portillo's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $4.59 per share, with a total value of $299,979.45. Following the completion of the acquisition, the director directly owned 551,770 shares in the company, valued at $2,532,624.30. The trade was a 13.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Portillo's

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Portillo's by 5.9% during 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 last quarter. CWM LLC grew its stake in shares of Portillo's by 37.6% during the fourth quarter. CWM LLC now owns 7,216 shares of the company's stock worth $33,000 after purchasing an additional 1,973 shares in the last quarter. ProShare Advisors LLC increased its holdings in Portillo's by 20.1% in the fourth quarter. ProShare Advisors LLC now owns 12,188 shares of the company's stock valued at $55,000 after buying an additional 2,043 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Portillo's by 69.6% in the second quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company's stock valued at $63,000 after buying an additional 2,227 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in Portillo's by 1.0% in the first quarter. Chicago Partners Investment Group LLC now owns 263,381 shares of the company's stock valued at $1,393,000 after buying an additional 2,487 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.

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