Portillo's (NASDAQ:PTLO) Now Covered by Analysts at DA Davidson

Key Points

• DA Davidson initiated coverage on Portillo's with a "neutral" rating; across analysts the stock's consensus is a Hold with an average price target of $7.72.
• PTLO opened at $5.13, trading near its 50/200-day moving averages and well below its 52-week high of $14.40 (52-week low $4.41), with a market cap of roughly $387 million.
• Portillo's beat quarterly EPS estimates ($0.08 vs. $0.05) while revenue was essentially flat year-over-year, and institutional investors own about 98.34% of the shares with several large new or increased stakes reported.

Analysts at DA Davidson began coverage on shares of Portillo's (NASDAQ:PTLO - Get Free Report) in a research note issued on Friday,Benzinga reports. The brokerage set a "neutral" rating on the stock.

A number of other analysts also recently commented on PTLO. Weiss Ratings reissued a "sell (d+)" rating on shares of Portillo's in a research note on Monday, December 22nd. Stifel Nicolaus reissued a "hold" rating and issued a $6.00 price target (down from $8.00) on shares of Portillo's in a report on Wednesday, January 7th. Morgan Stanley set a $7.00 price objective on shares of Portillo's in a research report on Tuesday, January 20th. Piper Sandler boosted their target price on shares of Portillo's from $7.00 to $8.00 and gave the stock an "overweight" rating in a report on Friday, January 16th. Finally, UBS Group reduced their target price on shares of Portillo's from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Portillo's currently has an average rating of "Hold" and an average price target of $7.72.

Portillo's Stock Down 0.8%

Portillo's stock opened at $5.13 on Friday. Portillo's has a 52 week low of $4.41 and a 52 week high of $14.40. The stock has a market cap of $386.70 million, a price-to-earnings ratio of 19.00, a PEG ratio of 1.93 and a beta of 1.75. The company's 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.62. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.48.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Portillo's had a net margin of 2.64% and a return on equity of 3.93%. The business had revenue of $185.75 million during the quarter, compared to analysts' expectations of $185.50 million. During the same period last year, the firm posted $0.17 earnings per share. The business's revenue was up .6% on a year-over-year basis. On average, analysts expect that Portillo's will post 0.35 EPS for the current fiscal year.

Institutional Trading of Portillo's

A number of institutional investors have recently bought and sold shares of PTLO. Millennium Management LLC bought a new stake in shares of Portillo's in the 4th quarter valued at approximately $10,350,000. Alliancebernstein L.P. raised its position in shares of Portillo's by 16.8% during the second 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. Renaissance Technologies LLC increased its stake in Portillo's by 133.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,204,897 shares of the company's stock valued at $5,470,000 after acquiring an additional 688,800 shares during the period. Bridgeway Capital Management LLC acquired a new position in Portillo's in the 3rd quarter valued at approximately $2,609,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Portillo's in the 2nd quarter worth approximately $4,668,000. Institutional investors and hedge funds own 98.34% of the company's stock.

About Portillo's

Portillo's, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo's in Villa Park, Illinois.

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