Guggenheim Cuts Portillo's (NASDAQ:PTLO) Price Target to $17.00

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

Several other research firms have also recently weighed in on PTLO. Morgan Stanley set a $12.00 price objective on Portillo's in a research report on Monday, April 14th. UBS Group dropped their target price on Portillo's from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Baird R W lowered Portillo's from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. William Blair reissued an "outperform" rating on shares of Portillo's in a research report on Friday, May 30th. Finally, Stephens reissued an "equal weight" rating and issued a $13.00 target price on shares of Portillo's in a research report on Wednesday, May 7th. Five 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, Portillo's has an average rating of "Moderate Buy" and a consensus target price of $14.13.

Portillo's Trading Down 0.9%

NASDAQ:PTLO traded down $0.10 on Tuesday, reaching $11.47. The company's stock had a trading volume of 2,503,887 shares, compared to its average volume of 1,508,170. Portillo's has a 1-year low of $8.38 and a 1-year high of $15.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.21 and a current ratio of 0.25. The firm has a market cap of $858.19 million, a PE ratio of 26.68, a PEG ratio of 8.88 and a beta of 1.83. The business's 50-day moving average price is $11.76 and its two-hundred day moving average price is $12.07.

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

Insider Transactions at Portillo's

In related news, Director Berkshire Partners Llc sold 10,000,000 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $12.23, for a total transaction of $122,300,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.14% of the company's stock.

Institutional Trading of Portillo's

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cooper Investors PTY Ltd. raised its holdings in Portillo's by 34.2% during the second quarter. Cooper Investors PTY Ltd. now owns 311,566 shares of the company's stock worth $3,636,000 after acquiring an additional 79,383 shares in the last quarter. Rhumbline Advisers raised its holdings in Portillo's by 2.2% during the first quarter. Rhumbline Advisers now owns 82,605 shares of the company's stock worth $982,000 after acquiring an additional 1,744 shares in the last quarter. Woodline Partners LP raised its stake in Portillo's by 98.2% in the first quarter. Woodline Partners LP now owns 752,473 shares of the company's stock valued at $8,947,000 after buying an additional 372,801 shares during the period. Fred Alger Management LLC bought a new stake in Portillo's in the first quarter valued at approximately $17,489,000. Finally, Select Equity Group L.P. raised its stake 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 valued at $12,732,000 after buying an additional 932,624 shares during the period. Institutional investors own 98.34% of the company's stock.

About Portillo's

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.