Portillo’s (NASDAQ:PTLO) Price Target Cut to $6.00 by Analysts at UBS Group

Portillo’s (NASDAQ:PTLO) had its target price reduced by UBS Group from $7.50 to $6.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also commented on PTLO. Robert W. Baird reduced their price target on shares of Portillo’s from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Bank of America restated a “neutral” rating and issued a $7.00 price target (down previously from $14.00) on shares of Portillo’s in a report on Monday, October 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $6.00 target price (down previously from $10.00) on shares of Portillo’s in a research report on Monday, October 13th. Morgan Stanley set a $9.00 target price on Portillo’s in a research report on Tuesday, October 21st. Finally, Guggenheim dropped their target price on Portillo’s from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.78.

Portillo’s Price Performance

PTLO opened at $5.05 on Wednesday. Portillo’s has a 12-month low of $4.81 and a 12-month high of $15.78. The company has a current ratio of 0.29, a quick ratio of 0.23 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $6.16 and its 200-day simple moving average is $9.08. The company has a market capitalization of $380.52 million, a price-to-earnings ratio of 14.03, a PEG ratio of 4.49 and a beta of 1.73.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Portillo’s had a return on equity of 4.99% and a net margin of 3.35%.The firm had revenue of $181.43 million for the quarter, compared to the consensus estimate of $179.77 million. On average, equities research analysts anticipate that Portillo’s will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Portillo’s

In other Portillo’s news, CEO Michael Osanloo bought 11,320 shares of Portillo’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $7.42 per share, with a total value of $83,994.40. Following the transaction, the chief executive officer directly owned 63,317 shares of the company’s stock, valued at approximately $469,812.14. This represents a 21.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTLO. State of Wyoming boosted its stake in Portillo’s by 176.6% in the 3rd quarter. State of Wyoming now owns 4,531 shares of the company’s stock worth $29,000 after purchasing an additional 2,893 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Portillo’s by 135.8% in 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 Portillo’s in the 2nd quarter worth approximately $32,000. CWM LLC boosted its stake in Portillo’s by 84.5% in the 3rd quarter. CWM LLC now owns 5,243 shares of the company’s stock worth $34,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Portillo’s by 33.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 9,203 shares of the company’s stock worth $58,000 after purchasing an additional 2,318 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.