Robert W. Baird Lowers Portillo's (NASDAQ:PTLO) Price Target to $7.00

Key Points

• Robert W. Baird has reduced its price target for Portillo's (NASDAQ:PTLO) from $8.00 to $7.00, maintaining a "neutral" rating with a potential upside of 13.82% from the previous close.
• Portillo's reported earnings of $0.12 per share for the recent quarter, matching analysts' expectations, but falling short on revenue at $188.46 million compared to expectations of $197.04 million.
• Significant insider buying occurred, with CEO Michael Osanloo purchasing 11,320 shares at an average price of $7.42, increasing his holdings by 21.77%.

Portillo's (NASDAQ:PTLO - Get Free Report) had its target price decreased by equities researchers at Robert W. Baird from $8.00 to $7.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 13.91% from the stock's current price.

PTLO has been the subject of several other research reports. Guggenheim cut their price objective on Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, July 8th. Stephens set a $10.00 price objective on Portillo's in a research report on Wednesday, September 10th. Wall Street Zen downgraded Portillo's from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. William Blair reiterated an "outperform" rating on shares of Portillo's in a research report on Friday, May 30th. Finally, Morgan Stanley cut their price objective on Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.19.

Portillo's Stock Performance

PTLO traded up $0.09 during midday trading on Thursday, reaching $6.15. The company's stock had a trading volume of 1,289,210 shares, compared to its average volume of 2,295,889. The stock has a market cap of $463.03 million, a P/E ratio of 13.66, a PEG ratio of 4.69 and a beta of 1.79. The company has a current ratio of 0.29, a quick ratio of 0.23 and a debt-to-equity ratio of 0.49. Portillo's has a twelve month low of $6.00 and a twelve month high of $15.78. The company has a fifty day simple moving average of $8.58 and a 200 day simple moving average of $10.72.

Portillo's (NASDAQ:PTLO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. The company had revenue of $188.46 million during the quarter, compared to the consensus estimate of $197.04 million. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Portillo's has set its FY 2025 guidance at EPS. Research analysts expect that Portillo's will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michelle Greig Hook bought 40,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $7.67 per share, for a total transaction of $306,800.00. Following the completion of the acquisition, the chief financial officer owned 173,405 shares of the company's stock, valued at approximately $1,330,016.35. The trade was a 29.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene I. Lee, Jr. bought 130,250 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average price of $7.68 per share, for a total transaction of $1,000,320.00. Following the acquisition, the director directly owned 130,250 shares of the company's stock, valued at $1,000,320. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 210,570 shares of company stock valued at $1,614,474 in the last three months. 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 business. Squarepoint Ops LLC raised its stake in Portillo's by 11.5% in the second quarter. Squarepoint Ops LLC now owns 119,384 shares of the company's stock valued at $1,393,000 after buying an additional 12,303 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Portillo's by 336.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,135 shares of the company's stock worth $95,000 after purchasing an additional 6,271 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Portillo's during the 2nd quarter valued at $391,000. Zuckerman Investment Group LLC grew its stake in Portillo's by 1.6% during the second quarter. Zuckerman Investment Group LLC now owns 1,873,724 shares of the company's stock worth $21,866,000 after buying an additional 30,031 shares in the last quarter. Finally, Orbis Allan Gray Ltd increased its stake in Portillo's by 6.4% in the second quarter. Orbis Allan Gray Ltd now owns 6,358,093 shares of the company's stock valued at $74,199,000 after acquiring an additional 384,455 shares during the last quarter. 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.