Morgan Stanley Trims Portillo’s (NASDAQ:PTLO) Target Price to $13.00

Portillo’s (NASDAQ:PTLO) had its price target decreased by Morgan Stanley from $15.00 to $13.00 in a report published on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on PTLO. UBS Group reduced their price objective on shares of Portillo’s from $18.00 to $13.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. Robert W. Baird reduced their price target on shares of Portillo’s from $17.00 to $15.00 and set an outperform rating for the company in a research report on Wednesday, May 8th. Piper Sandler reduced their price target on shares of Portillo’s from $14.00 to $13.00 and set an overweight rating for the company in a research report on Friday, June 14th. Stephens restated an overweight rating and set a $20.00 price target on shares of Portillo’s in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus reduced their price target on shares of Portillo’s from $15.00 to $13.00 and set a buy rating for the company in a research report on Friday, July 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $16.13.

Portillo’s Trading Down 2.2 %

Shares of PTLO stock opened at $9.58 on Tuesday. Portillo’s has a 12-month low of $8.90 and a 12-month high of $23.75. The firm has a market cap of $699.05 million, a P/E ratio of 23.95, a PEG ratio of 5.07 and a beta of 1.73. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $9.92 and a 200-day moving average of $12.24.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Portillo’s had a net margin of 3.41% and a return on equity of 5.23%. The business had revenue of $165.83 million during the quarter, compared to analyst estimates of $174.90 million. During the same period in the previous year, the business earned $0.05 EPS. Portillo’s’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Portillo’s will post 0.32 earnings per share for the current year.

Institutional Trading of Portillo’s

A number of hedge funds have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Portillo’s by 7.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 22,592 shares of the company’s stock worth $220,000 after acquiring an additional 1,555 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Portillo’s by 10.4% during the 1st quarter. California State Teachers Retirement System now owns 54,329 shares of the company’s stock worth $770,000 after acquiring an additional 5,120 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in shares of Portillo’s by 3.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 576,865 shares of the company’s stock worth $8,180,000 after acquiring an additional 18,451 shares during the last quarter. Ascent Group LLC lifted its holdings in shares of Portillo’s by 8.3% during the 1st quarter. Ascent Group LLC now owns 13,100 shares of the company’s stock worth $186,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Portillo’s by 17.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock worth $184,000 after acquiring an additional 1,917 shares during the last quarter. 98.34% of the stock is 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.