Portillo's (NASDAQ:PTLO) Given New $10.00 Price Target at Stephens

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 - Free Report) had its target price lowered by Stephens from $13.00 to $10.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on PTLO. Bank of America lowered their price objective on shares of Portillo's from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Morgan Stanley reduced their target price on shares of Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. UBS Group reduced their target price on shares of Portillo's from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Guggenheim reduced their target price on shares of Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Finally, Piper Sandler reduced their target price on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $12.50.

Portillo's Stock Performance

Shares of NASDAQ:PTLO traded up $0.17 during trading on Friday, hitting $8.02. The company's stock had a trading volume of 2,176,017 shares, compared to its average volume of 2,085,790. The company has a 50-day moving average of $10.93 and a 200-day moving average of $12.02. Portillo's has a 12 month low of $7.20 and a 12 month 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. The firm has a market cap of $599.91 million, a price-to-earnings ratio of 17.77, a P/E/G ratio of 5.12 and a beta of 1.81.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The firm had revenue of $188.46 million for the quarter, compared to analysts' expectations of $197.04 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Portillo's will post 0.35 earnings per share for the current year.

Insider Buying and Selling at Portillo's

In related news, CEO Michael Osanloo acquired 11,320 shares of the business's stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $7.42 per share, with a total value of $83,994.40. Following the acquisition, the chief executive officer directly owned 63,317 shares in the company, valued at $469,812.14. This represents a 21.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Kelly M. Kaiser acquired 27,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $7.68 per share, with a total value of $207,360.00. Following the completion of the acquisition, the general counsel owned 68,495 shares in the company, valued at approximately $526,041.60. This represents a 65.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 210,570 shares of company stock worth $1,614,474. Insiders own 6.14% of the company's stock.

Institutional Investors Weigh In On Portillo's

Several large investors have recently bought and sold shares of PTLO. PNC Financial Services Group Inc. boosted its stake in Portillo's by 135.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,596 shares of the company's stock worth $30,000 after buying an additional 1,495 shares during the period. Allworth Financial LP purchased a new position in Portillo's during the second quarter worth $32,000. CWM LLC boosted its stake in Portillo's by 58.3% during the first 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 period. North Star Investment Management Corp. boosted its stake in Portillo's by 137.6% during the first 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 period. Finally, Comerica Bank boosted its stake in Portillo's by 172.6% during the fourth 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 period. Institutional investors own 98.34% of the company's stock.

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.