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

Portillo's (NASDAQ:PTLO - Free Report) had its price objective reduced by Bank of America from $19.00 to $16.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on PTLO. Morgan Stanley set a $12.00 price objective on Portillo's in a research report on Monday, April 14th. Stephens reiterated an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a research report on Wednesday, May 7th. Baird R W downgraded Portillo's from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Piper Sandler cut their price target on Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, William Blair reiterated an "outperform" rating on shares of Portillo's in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Portillo's Stock Down 0.5%

NASDAQ:PTLO traded down $0.06 during trading hours on Friday, reaching $11.14. 426,939 shares of the company traded hands, compared to its average volume of 1,534,498. The business's 50-day moving average price is $11.78 and its two-hundred day moving average price is $12.18. The stock has a market capitalization of $833.12 million, a P/E ratio of 25.92, a P/E/G ratio of 8.59 and a beta of 1.83. Portillo's has a 1 year low of $8.38 and a 1 year high of $15.78. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $180.76 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company's revenue was up 6.4% on a year-over-year basis. Analysts predict that Portillo's will post 0.35 earnings per share for the current year.

Insider Activity at Portillo's

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $12.23, for a total transaction of $122,300,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.14% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its position in shares of Portillo's by 58.3% in the 1st quarter. CWM LLC now owns 3,194 shares of the company's stock worth $38,000 after buying an additional 1,176 shares during the last quarter. North Star Investment Management Corp. grew its stake in Portillo's by 137.6% during the 1st quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock worth $42,000 after buying an additional 2,037 shares during the last quarter. Comerica Bank grew its stake in Portillo's by 172.6% during the 4th quarter. Comerica Bank now owns 5,395 shares of the company's stock worth $51,000 after buying an additional 3,416 shares during the last quarter. Fund 1 Investments LLC purchased a new position in Portillo's during the 4th quarter worth $53,000. Finally, BNP Paribas Financial Markets purchased a new position in Portillo's during the 4th quarter worth $62,000. 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.