Portillo’s (NASDAQ:PTLO) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Portillo’s (NASDAQ:PTLO) from a sell rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird raised shares of Portillo’s to a “hold” rating in a report on Monday, August 24th. Stephens restated an “equal weight” rating and set a $5.00 target price on shares of Portillo’s in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Portillo’s in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.92.

Portillo’s Stock Performance

Shares of NASDAQ:PTLO opened at $4.42 on Friday. Portillo’s has a 12-month low of $3.78 and a 12-month high of $6.98. The company has a market capitalization of $335.65 million, a PE ratio of 24.56, a PEG ratio of 0.95 and a beta of 1.56. The business has a 50 day moving average of $4.67 and a two-hundred day moving average of $4.88. The company has a current ratio of 0.26, a quick ratio of 0.20 and a debt-to-equity ratio of 0.46.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $198.95 million for the quarter, compared to analyst estimates of $199.22 million. Portillo’s had a return on equity of 2.78% and a net margin of 1.85%.The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 EPS. As a group, analysts forecast that Portillo’s will post 0.19 EPS for the current year.

Insider Activity at Portillo’s

In other news, Director I Jr bought 65,355 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $4.59 per share, for a total transaction of $299,979.45. Following the completion of the transaction, the director directly owned 551,770 shares in the company, valued at $2,532,624.30. The trade was a 13.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Portillo’s

Several hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LP boosted its holdings in shares of Portillo’s by 501.5% during the 2nd quarter. Corient Private Wealth LP now owns 269,248 shares of the company’s stock worth $1,276,000 after purchasing an additional 224,486 shares during the last quarter. Deutsche Bank AG lifted its position in Portillo’s by 29.5% during the second quarter. Deutsche Bank AG now owns 65,667 shares of the company’s stock worth $311,000 after buying an additional 14,973 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Portillo’s by 283.1% during the second quarter. Russell Investments Group Ltd. now owns 36,556 shares of the company’s stock worth $173,000 after buying an additional 27,014 shares in the last quarter. Essential Partners LLC lifted its position in Portillo’s by 83,350.0% during the first quarter. Essential Partners LLC now owns 5,007 shares of the company’s stock worth $26,000 after buying an additional 5,001 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Portillo’s by 3.3% during the first quarter. Bank of America Corp DE now owns 704,602 shares of the company’s stock worth $3,727,000 after buying an additional 22,744 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Portillo’s Company Profile

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.