Portillo’s (NASDAQ:PTLO) Price Target Increased to $30.00 by Analysts at Robert W. Baird

Portillo’s (NASDAQ:PTLOGet Rating) had its price objective boosted by Robert W. Baird from $22.00 to $30.00 in a research note published on Friday, The Fly reports.

Several other analysts have also commented on the company. Morgan Stanley began coverage on Portillo’s in a research note on Tuesday, June 28th. They issued an equal weight rating and a $19.00 price target on the stock. Piper Sandler boosted their price objective on Portillo’s from $23.00 to $27.00 and gave the stock an overweight rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Portillo’s currently has a consensus rating of Moderate Buy and an average price target of $43.67.

Portillo’s Price Performance

Shares of PTLO stock opened at $26.58 on Friday. The stock’s fifty day simple moving average is $18.83 and its 200 day simple moving average is $21.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.94 and a quick ratio of 0.84. The firm has a market cap of $952.89 million and a price-to-earnings ratio of -69.95. Portillo’s has a one year low of $14.84 and a one year high of $57.73.

Portillo’s (NASDAQ:PTLOGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. The business had revenue of $150.60 million for the quarter, compared to analyst estimates of $151.90 million. Portillo’s had a negative return on equity of 2.04% and a negative net margin of 1.21%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts expect that Portillo’s will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Nicholas Anthony Scarpino sold 65,506 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $18.39, for a total transaction of $1,204,655.34. Following the transaction, the senior vice president now owns 10,700 shares of the company’s stock, valued at $196,773. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jill Francine Waite sold 44,614 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $19.10, for a total value of $852,127.40. Following the completion of the sale, the insider now owns 21,900 shares in the company, valued at $418,290. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nicholas Anthony Scarpino sold 65,506 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $18.39, for a total value of $1,204,655.34. Following the completion of the sale, the senior vice president now owns 10,700 shares of the company’s stock, valued at approximately $196,773. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Portillo’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTLO. Select Equity Group L.P. bought a new stake in Portillo’s in the fourth quarter valued at about $141,599,000. Alliancebernstein L.P. bought a new stake in shares of Portillo’s in the fourth quarter worth about $41,125,000. Principal Financial Group Inc. bought a new stake in shares of Portillo’s in the fourth quarter worth about $28,882,000. Blair William & Co. IL bought a new stake in shares of Portillo’s in the fourth quarter worth about $28,523,000. Finally, Perfromance Wealth Partners LLC bought a new stake in shares of Portillo’s in the first quarter worth about $17,453,000. Institutional investors own 82.55% of the company’s stock.

Portillo’s Company Profile

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Portillo's Inc, together with its subsidiaries, engages in the ownership and operation of fast casual and quick service 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 shakes.

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Analyst Recommendations for Portillo's (NASDAQ:PTLO)

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