Piper Sandler Lowers Portillo's (NASDAQ:PTLO) Price Target to $13.00

Portillo's (NASDAQ:PTLO - Free Report) had its price target reduced by Piper Sandler from $17.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on PTLO. Robert W. Baird reiterated a "neutral" rating and issued a $12.00 price objective (down from $15.00) on shares of Portillo's in a report on Monday, April 7th. Stifel Nicolaus lifted their target price on shares of Portillo's from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Baird R W cut shares of Portillo's from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Morgan Stanley set a $12.00 target price on shares of Portillo's in a research note on Monday, April 14th. Finally, Stephens reaffirmed an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.71.

Portillo's Stock Performance

NASDAQ PTLO traded up $0.64 on Wednesday, hitting $11.88. 878,124 shares of the company's stock traded hands, compared to its average volume of 1,391,104. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. Portillo's has a 1-year low of $8.38 and a 1-year high of $15.78. The firm's 50-day moving average price is $11.78 and its two-hundred day moving average price is $11.87. The firm has a market capitalization of $886.13 million, a PE ratio of 28.25, a P/E/G ratio of 14.77 and a beta of 1.83.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $176.44 million during the quarter, compared to the consensus estimate of $180.76 million. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The company's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, analysts expect that Portillo's will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Swiss National Bank lifted its position in shares of Portillo's by 6.1% during the first quarter. Swiss National Bank now owns 103,200 shares of the company's stock worth $1,227,000 after purchasing an additional 5,900 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Portillo's during the first quarter worth about $235,000. Blair William & Co. IL lifted its position in shares of Portillo's by 32.2% during the first quarter. Blair William & Co. IL now owns 1,613,012 shares of the company's stock worth $19,179,000 after purchasing an additional 392,964 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Portillo's during the first quarter worth about $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Portillo's by 28.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,814 shares of the company's stock worth $212,000 after purchasing an additional 3,941 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

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.