Portillo's (NASDAQ:PTLO) Given New $17.00 Price Target at Guggenheim

Portillo's (NASDAQ:PTLO - Free Report) had its price objective cut by Guggenheim from $18.00 to $17.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on PTLO. Stephens reiterated an "equal weight" rating and issued a $13.00 price objective on shares of Portillo's in a report on Wednesday, May 7th. Morgan Stanley set a $12.00 price objective on shares of Portillo's in a research note on Monday, April 14th. William Blair reissued an "outperform" rating on shares of Portillo's in a research note on Friday, May 30th. UBS Group dropped their price objective on shares of Portillo's from $15.00 to $12.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Piper Sandler dropped their price objective on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Portillo's currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.13.

Portillo's Trading Up 0.3%

Shares of NASDAQ PTLO traded up $0.03 during midday trading on Tuesday, hitting $11.95. 2,579,591 shares of the company traded hands, compared to its average volume of 1,495,820. Portillo's has a 12-month low of $8.38 and a 12-month high of $15.78. The firm has a market cap of $894.10 million, a P/E ratio of 27.79, a P/E/G ratio of 9.45 and a beta of 1.83. The stock has a 50-day moving average price of $11.67 and a 200 day moving average price of $12.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.21 and a current ratio of 0.25.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $176.44 million for the quarter, compared to the consensus estimate of $180.76 million. Portillo's had a return on equity of 5.87% and a net margin of 3.92%. The business's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS. As a group, analysts expect that Portillo's will post 0.35 earnings per share for the current year.

Insider Buying and Selling at Portillo's

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $12.23, for a total transaction of $122,300,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PTLO. Alliancebernstein L.P. raised its holdings in shares of Portillo's by 10,963.2% during the first quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company's stock valued at $58,825,000 after purchasing an additional 4,902,741 shares during the last quarter. Fred Alger Management LLC bought a new position in Portillo's in the first quarter worth approximately $17,489,000. Ameriprise Financial Inc. raised its position in Portillo's by 53.6% in the first quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company's stock worth $40,590,000 after acquiring an additional 1,191,443 shares during the period. Select Equity Group L.P. raised its position in Portillo's by 675.1% in the first quarter. Select Equity Group L.P. now owns 1,070,774 shares of the company's stock worth $12,732,000 after acquiring an additional 932,624 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Portillo's by 139.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,102,103 shares of the company's stock worth $10,360,000 after acquiring an additional 641,273 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.