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

Portillo's (NASDAQ:PTLO - Get Free Report) had its price objective reduced by Piper Sandler from $17.00 to $13.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 21.45% from the company's current price.

A number of other equities research analysts have also recently weighed in on PTLO. Stifel Nicolaus lifted their price target on shares of Portillo's from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 28th. UBS Group dropped their target price on shares of Portillo's from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Baird R W cut 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 price target on Portillo's in a research report on Monday, April 14th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $12.00 price objective (down previously from $15.00) on shares of Portillo's in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Portillo's presently has a consensus rating of "Hold" and a consensus target price of $13.57.

Portillo's Price Performance

PTLO stock traded up $0.23 during midday trading on Wednesday, reaching $10.70. The stock had a trading volume of 289,488 shares, compared to its average volume of 1,406,904. The company's fifty day simple moving average is $11.94 and its 200 day simple moving average is $11.90. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The company has a market cap of $798.55 million, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 14.77 and a beta of 1.83. Portillo's has a 52-week low of $8.38 and a 52-week high of $15.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $176.44 million during the quarter, compared to analysts' expectations of $180.76 million. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The business's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, sell-side analysts predict that Portillo's will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Portillo's

A number of large investors have recently made changes to their positions in PTLO. Vanguard Group Inc. increased its position in shares of Portillo's by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,571,434 shares of the company's stock valued at $52,371,000 after purchasing an additional 97,801 shares during the last quarter. Zuckerman Investment Group LLC grew its stake in shares of Portillo's by 6.9% during the fourth quarter. Zuckerman Investment Group LLC now owns 1,944,983 shares of the company's stock worth $18,283,000 after purchasing an additional 125,073 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Portillo's by 10.9% in the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company's stock valued at $24,086,000 after buying an additional 175,999 shares during the last quarter. Marshall Wace LLP raised its stake in Portillo's by 8.2% in the fourth quarter. Marshall Wace LLP now owns 1,751,856 shares of the company's stock valued at $16,467,000 after buying an additional 132,112 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in Portillo's by 80.5% during the 4th quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company's stock worth $15,537,000 after buying an additional 737,049 shares during the last quarter. 98.34% of the stock is currently 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.

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