UBS Group Issues Pessimistic Forecast for Portillo’s (NASDAQ:PTLO) Stock Price

Portillo’s (NASDAQ:PTLO) had its price objective reduced by equities researchers at UBS Group from $14.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 9.78% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stephens reaffirmed an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a research note on Wednesday, November 6th. Stifel Nicolaus cut shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.57.

Portillo’s Trading Up 5.4 %

Shares of Portillo’s stock opened at $10.02 on Tuesday. The stock has a market cap of $743.70 million, a PE ratio of 23.86, a price-to-earnings-growth ratio of 10.96 and a beta of 1.72. The firm has a fifty day moving average price of $10.77 and a 200 day moving average price of $11.17. Portillo’s has a 1 year low of $8.38 and a 1 year high of $16.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $178.25 million during the quarter, compared to analyst estimates of $182.07 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. Equities research analysts predict that Portillo’s will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On Portillo’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of Portillo’s by 28.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 211,870 shares of the company’s stock worth $2,059,000 after purchasing an additional 46,650 shares during the last quarter. Rhumbline Advisers increased its stake in Portillo’s by 24.7% during the 2nd quarter. Rhumbline Advisers now owns 75,392 shares of the company’s stock worth $733,000 after buying an additional 14,948 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Portillo’s by 218.1% during the second quarter. Victory Capital Management Inc. now owns 63,591 shares of the company’s stock valued at $618,000 after acquiring an additional 43,602 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Portillo’s by 24.9% in the second quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock valued at $159,000 after acquiring an additional 3,261 shares in the last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Portillo’s in the second quarter worth approximately $52,000. 98.34% of the stock is owned by hedge funds and other 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.