Brokerages Set Portillo’s Inc. (NASDAQ:PTLO) Target Price at $5.92

Portillo’s Inc. (NASDAQ:PTLO) has been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $5.9250.

PTLO has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Portillo’s from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Guggenheim lowered shares of Portillo’s from a “buy” rating to a “neutral” rating in a report on Thursday, May 7th. Stifel Nicolaus dropped their price target on shares of Portillo’s from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Roth Capital set a $8.00 price target on Portillo’s in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Portillo’s in a report on Monday, August 3rd.

Insider Buying and Selling at Portillo’s

In related news, Director Eugene I. Lee, Jr. bought 65,355 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $4.59 per share, with a total value of $299,979.45. Following the completion of the transaction, the director directly owned 551,770 shares in the company, valued at approximately $2,532,624.30. This represents a 13.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portillo’s

A number of institutional investors and hedge funds have recently bought and sold shares of PTLO. Engaged Capital LLC boosted its holdings in Portillo’s by 124.3% during the 1st quarter. Engaged Capital LLC now owns 3,442,990 shares of the company’s stock worth $18,213,000 after acquiring an additional 1,908,000 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new stake in shares of Portillo’s in the first quarter valued at about $53,000. First National Bank Sioux Falls purchased a new stake in shares of Portillo’s in the first quarter valued at about $56,000. Alpine Global Management LLC bought a new position in shares of Portillo’s during the fourth quarter valued at about $89,000. Finally, Aristides Capital LLC bought a new position in shares of Portillo’s during the fourth quarter valued at about $197,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Portillo’s Price Performance

Shares of PTLO opened at $4.41 on Wednesday. Portillo’s has a 12-month low of $3.78 and a 12-month high of $7.05. The business’s fifty day moving average is $4.67 and its 200 day moving average is $4.90. The company has a quick ratio of 0.20, a current ratio of 0.26 and a debt-to-equity ratio of 0.46. The stock has a market cap of $334.90 million, a P/E ratio of 24.50, a P/E/G ratio of 0.99 and a beta of 1.56.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Portillo’s had a net margin of 1.85% and a return on equity of 2.78%. The business had revenue of $198.95 million during the quarter, compared to analyst estimates of $199.22 million. During the same quarter in the previous year, the business posted $0.12 EPS. Portillo’s’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Portillo’s will post 0.19 earnings per share for the current fiscal year.

About Portillo’s

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.