Analysts Set Portillo’s Inc. (NASDAQ:PTLO) Price Target at $13.71

Portillo’s Inc. (NASDAQ:PTLO) has earned an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.71.

PTLO has been the subject of several analyst reports. William Blair restated an “outperform” rating on shares of Portillo’s in a report on Friday, May 30th. Baird R W downgraded Portillo’s from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Morgan Stanley set a $12.00 price target on Portillo’s in a report on Monday, April 14th. Stifel Nicolaus raised their price target on Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Piper Sandler reduced their price target on Portillo’s from $17.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th.

Portillo’s Price Performance

PTLO opened at $11.59 on Monday. The stock has a fifty day simple moving average of $11.49 and a two-hundred day simple moving average of $11.82. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The company has a market cap of $867.11 million, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 14.77 and a beta of 1.87. Portillo’s has a 12-month low of $8.38 and a 12-month high of $15.78.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $176.44 million during the quarter, compared to the consensus estimate of $180.76 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Research analysts predict that Portillo’s will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Portillo’s news, Director Berkshire Partners Llc sold 10,000,000 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portillo’s

A number of large investors have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Portillo’s by 2.2% during the 1st 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 period. Woodline Partners LP grew its stake in shares of Portillo’s by 98.2% during the 1st quarter. Woodline Partners LP now owns 752,473 shares of the company’s stock valued at $8,947,000 after purchasing an additional 372,801 shares during the period. Fred Alger Management LLC bought a new stake in shares of Portillo’s during the 1st quarter valued at about $17,489,000. Select Equity Group L.P. grew its stake in shares of Portillo’s by 675.1% during the 1st quarter. Select Equity Group L.P. now owns 1,070,774 shares of the company’s stock valued at $12,732,000 after purchasing an additional 932,624 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Portillo’s by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,550 shares of the company’s stock valued at $387,000 after acquiring an additional 1,808 shares during the period. 98.34% of the stock is currently owned by institutional investors.

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.