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

Key Points

• Wall Street Zen upgraded Portillo’s from “sell” to “hold,” aligning with MarketBeat’s consensus “Hold” rating and average price target of $5.92.
• Portillo’s shares were trading at $4.70, up 4.9%, with a market capitalization of approximately $356.9 million and a 12-month range of $3.78 to $7.12.
• The company’s latest quarterly results met earnings expectations at $0.09 per share, while revenue rose 5.6% year over year to $198.95 million, slightly below analyst estimates.

Portillo's (NASDAQ:PTLO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

PTLO has been the topic of several other reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Portillo's in a research report on Monday, August 3rd. Robert W. Baird raised Portillo's to a "hold" rating in a research report on Monday, August 24th. Stephens restated an "equal weight" rating and issued a $5.00 target price on shares of Portillo's in a research note on Thursday, August 6th. Morgan Stanley lowered their target price on Portillo's from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus dropped their price target on Portillo's from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.92.

Portillo's Trading Up 4.9%

NASDAQ:PTLO opened at $4.70 on Friday. The company has a 50-day moving average price of $4.65 and a 200-day moving average price of $4.92. Portillo's has a 12 month low of $3.78 and a 12 month high of $7.12. The company has a current ratio of 0.26, a quick ratio of 0.20 and a debt-to-equity ratio of 0.46. The stock has a market cap of $356.92 million, a price-to-earnings ratio of 26.11, a P/E/G ratio of 0.97 and a beta of 1.56.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its earnings results 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 net margin of 1.85% and a return on equity of 2.78%. The firm had revenue of $198.95 million for the quarter, compared to analyst estimates of $199.22 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The company's revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts predict that Portillo's will post 0.19 EPS for the current year.

Insider Transactions at Portillo's

In other Portillo's news, Director Eugene I. Lee, Jr. acquired 65,355 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $4.59 per share, with a total value of $299,979.45. Following the completion of the purchase, the director directly owned 551,770 shares of the company's stock, valued at approximately $2,532,624.30. The trade was a 13.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Portillo's

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Engaged Capital LLC grew its stake in shares of Portillo's by 124.3% in the 1st quarter. Engaged Capital LLC now owns 3,442,990 shares of the company's stock worth $18,213,000 after buying an additional 1,908,000 shares during the last quarter. Horizon Wealth Management LLC bought a new stake in Portillo's in the first quarter worth $53,000. Aaron Wealth Advisors LLC bought a new stake in Portillo's in the first quarter worth $53,000. First National Bank Sioux Falls purchased a new stake in shares of Portillo's in the first quarter worth $56,000. Finally, Alpine Global Management LLC bought a new position in shares of Portillo's during the fourth quarter valued at $89,000. Institutional investors 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.

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