Stephens Issues Pessimistic Forecast for Portillo's (NASDAQ:PTLO) Stock Price

Key Points

• Stephens has reduced its price target for Portillo's stock from $13.00 to $10.00, maintaining an "equal weight" rating, indicating a potential upside of 29.53% from the current price.
• Multiple brokerages have recently adjusted their ratings and price targets for Portillo's, with Bank of America setting a new target of $16.00 while Robert W. Baird has set it at $8.00.
• Portillo's reported earnings of $0.12 per share, meeting analysts' estimates, but fell short on revenue with $188.46 million compared to expectations of $197.04 million.

Portillo's (NASDAQ:PTLO - Get Free Report) had its price objective cut by equities researchers at Stephens from $13.00 to $10.00 in a report released on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Stephens' price objective suggests a potential upside of 29.53% from the company's current price.

A number of other brokerages also recently weighed in on PTLO. Bank of America reduced their target price on Portillo's from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, July 18th. William Blair reiterated an "outperform" rating on shares of Portillo's in a report on Friday, May 30th. Guggenheim decreased their target price on Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Piper Sandler cut their price target on Portillo's from $17.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Robert W. Baird set a $8.00 price objective on Portillo's in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Portillo's Stock Up 2.1%

PTLO stock opened at $7.72 on Friday. Portillo's has a 1-year low of $7.20 and a 1-year high of $15.78. The firm has a market capitalization of $577.57 million, a PE ratio of 17.16, a PEG ratio of 5.22 and a beta of 1.81. The business's 50 day simple moving average is $11.12 and its 200 day simple moving average is $12.08. The company has a current ratio of 0.29, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. The business had revenue of $188.46 million for the quarter, compared to analyst estimates of $197.04 million. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. Portillo's's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. As a group, research analysts anticipate that Portillo's will post 0.35 EPS for the current year.

Insider Transactions at Portillo's

In related news, Director Berkshire Partners Llc sold 10,000,000 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which is available through this link. 6.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Portillo's

Several institutional investors and hedge funds have recently bought and sold shares of PTLO. KLP Kapitalforvaltning AS purchased a new stake in shares of Portillo's during the fourth quarter worth about $90,000. Vanguard Group Inc. boosted its holdings in Portillo's by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,571,434 shares of the company's stock valued at $52,371,000 after acquiring an additional 97,801 shares in the last quarter. Geode Capital Management LLC increased its position in Portillo's by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,282,547 shares of the company's stock valued at $12,060,000 after purchasing an additional 12,405 shares during the period. ExodusPoint Capital Management LP purchased a new position in Portillo's during the 4th quarter valued at $696,000. Finally, Wells Fargo & Company MN raised its holdings in Portillo's by 44.0% in the 4th quarter. Wells Fargo & Company MN now owns 44,733 shares of the company's stock worth $420,000 after purchasing an additional 13,661 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.