Portillo's (NASDAQ:PTLO) Price Target Lowered to $16.00 at Bank of America

Portillo's (NASDAQ:PTLO - Get Free Report) had its target price reduced by investment analysts at Bank of America from $19.00 to $16.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 44.27% from the company's previous close.

A number of other equities analysts have also recently issued reports on PTLO. 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 research report on Tuesday, July 8th. Baird R W cut shares of Portillo's from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Piper Sandler dropped their price target on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird restated a "neutral" rating and set a $12.00 price target (down previously from $15.00) on shares of Portillo's in a research note on Monday, April 7th. Finally, Morgan Stanley set a $12.00 price target on shares of Portillo's in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $14.00.

Portillo's Trading Up 0.3%

NASDAQ PTLO traded up $0.03 on Friday, reaching $11.09. The company had a trading volume of 426,844 shares, compared to its average volume of 1,834,037. The firm has a market cap of $829.75 million, a price-to-earnings ratio of 25.77, a P/E/G ratio of 8.42 and a beta of 1.83. Portillo's has a fifty-two week low of $8.38 and a fifty-two week high of $15.78. The business has a 50 day moving average of $11.78 and a two-hundred day moving average of $12.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.25 and a quick ratio of 0.21.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results 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. Portillo's had a return on equity of 5.87% and a net margin of 3.92%. The firm had revenue of $176.44 million during the quarter, compared to the consensus estimate of $180.76 million. During the same period last year, the business posted $0.08 EPS. The business's revenue was up 6.4% compared to the same quarter last year. Analysts forecast that Portillo's will post 0.35 EPS for the current year.

Insider Activity

In related news, Director Berkshire Partners Llc sold 10,000,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $12.23, for a total transaction of $122,300,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.14% of the company's stock.

Hedge Funds Weigh In On Portillo's

Several hedge funds and other institutional investors have recently modified their holdings of PTLO. Orbis Allan Gray Ltd lifted its stake in shares of Portillo's by 4.1% in the first quarter. Orbis Allan Gray Ltd now owns 5,973,638 shares of the company's stock worth $71,027,000 after buying an additional 234,475 shares in the last quarter. Vanguard Group Inc. lifted its position in Portillo's by 1.8% during the fourth 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 period. Alliancebernstein L.P. lifted its position in Portillo's by 10,963.2% during the first quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company's stock valued at $58,825,000 after purchasing an additional 4,902,741 shares during the period. Ameriprise Financial Inc. lifted its position in Portillo's by 53.6% during the first quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company's stock valued at $40,590,000 after purchasing an additional 1,191,443 shares during the period. Finally, Zuckerman Investment Group LLC raised its position in Portillo's by 6.9% in the fourth quarter. Zuckerman Investment Group LLC now owns 1,944,983 shares of the company's stock worth $18,283,000 after acquiring an additional 125,073 shares during the period. Hedge funds and other 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.

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