Bank of America Reaffirms “Neutral” Rating for Portillo’s (NASDAQ:PTLO)

Portillo’s (NASDAQ:PTLO)‘s stock had its “neutral” rating reissued by investment analysts at Bank of America in a research note issued on Monday,Benzinga reports. They currently have a $7.00 target price on the stock, down from their prior target price of $14.00. Bank of America‘s target price indicates a potential upside of 3.70% from the company’s previous close.

Other analysts have also issued research reports about the stock. Robert W. Baird lowered their target price on shares of Portillo’s from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Wall Street Zen downgraded shares of Portillo’s from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Guggenheim dropped their price objective on shares of Portillo’s from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, July 8th. Morgan Stanley decreased their target price on Portillo’s from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Finally, Stephens reaffirmed an “equal weight” rating and set a $10.00 target price on shares of Portillo’s in a report on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.06.

Portillo’s Stock Up 3.2%

Shares of Portillo’s stock opened at $6.75 on Monday. The business has a 50-day moving average price of $7.23 and a 200 day moving average price of $10.05. Portillo’s has a fifty-two week low of $6.00 and a fifty-two week high of $15.78. The firm has a market cap of $508.60 million, a P/E ratio of 15.00, a P/E/G ratio of 5.39 and a beta of 1.75. The company has a quick ratio of 0.23, a current ratio of 0.29 and a debt-to-equity ratio of 0.49.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. Portillo’s had a return on equity of 6.25% and a net margin of 4.19%.The company had revenue of $188.46 million for the quarter, compared to the consensus estimate of $197.04 million. During the same quarter last year, the business posted $0.10 EPS. Portillo’s’s quarterly revenue was up 3.6% compared to the same quarter last year. Portillo’s has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Portillo’s will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michelle Greig Hook acquired 40,000 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were purchased at an average price of $7.67 per share, for a total transaction of $306,800.00. Following the acquisition, the chief financial officer owned 173,405 shares in the company, valued at approximately $1,330,016.35. This represents a 29.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugene I. Lee, Jr. bought 130,250 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was purchased at an average price of $7.68 per share, with a total value of $1,000,320.00. Following the completion of the acquisition, the director owned 130,250 shares of the company’s stock, valued at approximately $1,000,320. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 210,570 shares of company stock valued at $1,614,474 over the last ninety days. 6.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Portillo’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. PNC Financial Services Group Inc. grew its position in Portillo’s by 135.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,596 shares of the company’s stock worth $30,000 after purchasing an additional 1,495 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Portillo’s in the second quarter worth $32,000. CWM LLC grew its holdings in shares of Portillo’s by 58.3% during the first quarter. CWM LLC now owns 3,194 shares of the company’s stock valued at $38,000 after buying an additional 1,176 shares in the last quarter. North Star Investment Management Corp. raised its position in Portillo’s by 137.6% during the first quarter. North Star Investment Management Corp. now owns 3,517 shares of the company’s stock valued at $42,000 after buying an additional 2,037 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Portillo’s by 69.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock worth $63,000 after acquiring an additional 2,227 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.