Piper Sandler Has Lowered Expectations for Portillo’s (NASDAQ:PTLO) Stock Price

Portillo’s (NASDAQ:PTLO) had its price objective reduced by stock analysts at Piper Sandler from $17.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 13.89% from the stock’s previous close.

Several other equities analysts have also commented on PTLO. Robert W. Baird reiterated a “neutral” rating and issued a $12.00 target price (down from $15.00) on shares of Portillo’s in a research note on Monday, April 7th. Baird R W cut Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Stifel Nicolaus upped their target price on shares of Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. UBS Group cut their target price on Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley set a $12.00 target price on shares of Portillo’s in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.71.

Portillo’s Stock Up 1.0 %

PTLO stock opened at $11.42 on Wednesday. The stock has a market capitalization of $851.59 million, a PE ratio of 27.18, a price-to-earnings-growth ratio of 14.77 and a beta of 1.83. The company has a fifty day moving average of $11.84 and a 200-day moving average of $11.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. Portillo’s has a one year low of $8.38 and a one year high of $15.78.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $176.44 million during the quarter, compared to analysts’ expectations of $180.76 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. As a group, analysts expect that Portillo’s will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Portillo’s

A number of hedge funds have recently added to or reduced their stakes in PTLO. CWM LLC boosted its holdings in Portillo’s by 58.3% in the first quarter. CWM LLC now owns 3,194 shares of the company’s stock worth $38,000 after purchasing an additional 1,176 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Portillo’s by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,742 shares of the company’s stock worth $289,000 after purchasing an additional 1,185 shares during the period. Rhumbline Advisers grew its holdings in Portillo’s by 2.2% during the first quarter. Rhumbline Advisers now owns 82,605 shares of the company’s stock valued at $982,000 after purchasing an additional 1,744 shares during the last quarter. Hollencrest Capital Management lifted its stake in shares of Portillo’s by 100.0% in the fourth quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $38,000 after buying an additional 2,000 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in shares of Portillo’s by 137.6% during the 1st quarter. North Star Investment Management Corp. now owns 3,517 shares of the company’s stock worth $42,000 after buying an additional 2,037 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.