Portillo's (NASDAQ:PTLO) Receives Neutral Rating from Bank of America

Key Points

• Bank of America has reaffirmed a "neutral" rating for Portillo's (NASDAQ:PTLO) with a revised price target of $7.00, indicating a potential upside of just 3.70% from the stock's previous close.
• Equities analysts have generally rated Portillo's with a consensus rating of "Hold," while the average price target stands at $11.06.
• CEO Michael Osanloo and General Counsel Kelly M. Kaiser have increased their ownership stakes by purchasing shares recently, indicating confidence in the company's future prospects.

Portillo's (NASDAQ:PTLO - Get Free Report)'s stock had its "neutral" rating reissued by analysts at Bank of America in a note issued to investors on Monday,Benzinga reports. They presently have a $7.00 price objective on the stock, down from their prior price objective of $14.00. Bank of America's price objective suggests a potential upside of 3.70% from the stock's previous close.

Several other equities analysts also recently weighed in on PTLO. UBS Group dropped their target price on shares of Portillo's from $9.00 to $7.50 and set a "neutral" rating for the company in a report on Monday, September 15th. Stephens reissued an "equal weight" rating and set a $10.00 price objective on shares of Portillo's in a research note on Tuesday, September 23rd. Morgan Stanley reduced their target price on Portillo's from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Robert W. Baird dropped their price target on Portillo's from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, September 11th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Portillo's in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.06.

Portillo's Stock Performance

NASDAQ PTLO opened at $6.75 on Monday. The business has a 50 day moving average price of $7.23 and a 200 day moving average price of $10.05. The company has a market capitalization of $508.60 million, a P/E ratio of 15.00, a PEG ratio of 5.39 and a beta of 1.75. 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 current ratio of 0.29 and a quick ratio of 0.23.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted 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 company had revenue of $188.46 million for the quarter, compared to analyst estimates of $197.04 million. Portillo's had a return on equity of 6.25% and a net margin of 4.19%.Portillo's's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Portillo's has set its FY 2025 guidance at EPS. Sell-side analysts expect that Portillo's will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Osanloo acquired 11,320 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average price of $7.42 per share, with a total value of $83,994.40. Following the completion of the transaction, the chief executive officer directly owned 63,317 shares of the company's stock, valued at $469,812.14. The trade was a 21.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kelly M. Kaiser acquired 27,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $7.68 per share, for a total transaction of $207,360.00. Following the purchase, the general counsel directly owned 68,495 shares of the company's stock, valued at approximately $526,041.60. This trade represents a 65.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 210,570 shares of company stock worth $1,614,474 in the last ninety days. 6.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portillo's

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Portillo's by 14.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,281 shares of the company's stock valued at $811,000 after buying an additional 10,723 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Portillo's by 40,394.4% in the first quarter. GAMMA Investing LLC now owns 7,289 shares of the company's stock worth $87,000 after acquiring an additional 7,271 shares in the last quarter. Rhumbline Advisers boosted its holdings in Portillo's by 2.2% in the first quarter. Rhumbline Advisers now owns 82,605 shares of the company's stock valued at $982,000 after purchasing an additional 1,744 shares during the last quarter. NBC Securities Inc. grew its stake in Portillo's by 83,963.6% during the 1st quarter. NBC Securities Inc. now owns 9,247 shares of the company's stock valued at $109,000 after purchasing an additional 9,236 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Portillo's by 41.9% during the 1st quarter. SG Americas Securities LLC now owns 59,679 shares of the company's stock worth $710,000 after purchasing an additional 17,629 shares during the last quarter. 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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