Portillo's (NASDAQ:PTLO) Given New $7.00 Price Target at Robert W. Baird

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 price objective decreased by investment analysts at Robert W. Baird from $8.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 13.82% from the company's previous close.

Several other brokerages have also recently weighed in on PTLO. William Blair reaffirmed an "outperform" rating on shares of Portillo's in a report on Friday, May 30th. Morgan Stanley decreased their price target on Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Stephens set a $10.00 price target on Portillo's in a report on Wednesday. Bank of America decreased their price target on Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, Guggenheim cut their price objective on shares of Portillo's from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.38.

Portillo's Stock Down 5.7%

Shares of PTLO opened at $6.15 on Thursday. The company's 50-day simple moving average is $8.94 and its 200-day simple moving average is $10.93. The stock has a market capitalization of $463.40 million, a PE ratio of 13.67, a P/E/G ratio of 4.50 and a beta of 1.78. Portillo's has a 1 year low of $6.00 and a 1 year high of $15.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.23 and a current ratio of 0.29.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $188.46 million for the quarter, compared to analysts' expectations 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 was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Portillo's has set its FY 2025 guidance at EPS. Analysts forecast that Portillo's will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Portillo's

In other Portillo's news, CEO Michael Osanloo bought 11,320 shares of the stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $7.42 per share, for a total transaction of $83,994.40. Following the completion of the transaction, the chief executive officer owned 63,317 shares in the company, valued at approximately $469,812.14. The trade was a 21.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michelle Greig Hook bought 40,000 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this purchase can be found here. In the last three months, insiders have acquired 210,570 shares of company stock valued at $1,614,474. 6.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Portillo's

Several institutional investors have recently added to or reduced their stakes in PTLO. Orbis Allan Gray Ltd grew its position in Portillo's by 6.4% in the 2nd quarter. Orbis Allan Gray Ltd now owns 6,358,093 shares of the company's stock valued at $74,199,000 after buying an additional 384,455 shares during the last quarter. Alliancebernstein L.P. grew its position in Portillo's by 16.8% in the 2nd quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company's stock valued at $67,428,000 after buying an additional 830,460 shares during the last quarter. Ameriprise Financial Inc. grew its position in Portillo's by 4.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,563,600 shares of the company's stock valued at $41,587,000 after buying an additional 149,931 shares during the last quarter. Zuckerman Investment Group LLC grew its position in Portillo's by 1.6% in the 2nd quarter. Zuckerman Investment Group LLC now owns 1,873,724 shares of the company's stock valued at $21,866,000 after buying an additional 30,031 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Portillo's by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 1,627,315 shares of the company's stock valued at $18,991,000 after buying an additional 14,303 shares during 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.

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