Portillo’s (NASDAQ:PTLO) Stock Price Target Raised at DA Davidson

Portillo’s (NASDAQ:PTLO) had its price target increased by equities research analysts at DA Davidson from $5.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson‘s target price would indicate a potential downside of 0.28% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Stephens lifted their price target on shares of Portillo’s from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday. Wall Street Zen cut shares of Portillo’s from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Robert W. Baird upgraded shares of Portillo’s to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Portillo’s in a report on Friday, October 30th. Finally, UBS Group dropped their target price on shares of Portillo’s from $5.50 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.09.

Portillo’s Stock Up 28.8%

Shares of PTLO opened at $7.02 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.20 and a debt-to-equity ratio of 0.46. Portillo’s has a 12 month low of $3.29 and a 12 month high of $7.02. The stock’s 50 day moving average is $4.26 and its two-hundred day moving average is $4.83. The firm has a market cap of $533.12 million, a P/E ratio of 39.00, a PEG ratio of 4.81 and a beta of 1.51.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $194.07 million during the quarter, compared to analysts’ expectations of $193.18 million. Portillo’s had a return on equity of 2.78% and a net margin of 1.85%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. Analysts predict that Portillo’s will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Portillo’s

In other Portillo’s news, Director I Jr purchased 65,355 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $4.59 per share, with a total value of $299,979.45. Following the completion of the purchase, the director owned 551,770 shares in the company, valued at approximately $2,532,624.30. This represents a 13.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 6.34% of the company’s stock.

Institutional Trading of Portillo’s

Several large investors have recently bought and sold shares of PTLO. Engaged Capital LLC raised its holdings in Portillo’s by 124.3% in the 1st quarter. Engaged Capital LLC now owns 3,442,990 shares of the company’s stock valued at $18,213,000 after acquiring an additional 1,908,000 shares during the last quarter. State Street Corp boosted its holdings in shares of Portillo’s by 12.9% during the 2nd quarter. State Street Corp now owns 1,454,163 shares of the company’s stock worth $6,893,000 after purchasing an additional 166,617 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Portillo’s by 3.3% during the 1st quarter. Bank of America Corp DE now owns 704,602 shares of the company’s stock worth $3,727,000 after purchasing an additional 22,744 shares during the last quarter. Corient Private Wealth LP boosted its holdings in shares of Portillo’s by 501.5% during the 2nd quarter. Corient Private Wealth LP now owns 269,248 shares of the company’s stock worth $1,276,000 after purchasing an additional 224,486 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of Portillo’s by 1.0% in the first quarter. Chicago Partners Investment Group LLC now owns 263,381 shares of the company’s stock valued at $1,393,000 after purchasing an additional 2,487 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Portillo’s News Summary

Here are the key news stories impacting Portillo’s this week:

• Positive Sentiment: Portillo’s reported Q3 earnings of $0.06 per share, above analyst estimates of roughly $0.03–$0.04 and up from $0.02 a year earlier. Revenue of $194.1 million was slightly ahead of estimates and increased 7% year over year. Portillo’s Q3 earnings report
• Positive Sentiment: The company raised its full-year outlook, providing investors with a more favorable earnings forecast. Portillo’s raises FY outlook
• Positive Sentiment: Portillo’s unveiled a new strategic plan, which helped drive investor enthusiasm alongside the earnings beat and higher outlook. The available reports describe a strategy reset but do not specify its full details. Portillo’s strategic plan

Portillo’s Company Profile

Portillo’s, Inc operates a chain of fast-casual restaurants known for Chicago-style food. Its menu features Italian beef and Italian sausage sandwiches, Chicago-style hot dogs, hamburgers, chicken sandwiches, salads, french fries, shakes and other desserts.

The company traces its origins to 1963, when Dick Portillo opened a small hot dog stand called The Dog House in Villa Park, Illinois. Portillo’s has since expanded from its Chicago-area roots into a multi-state restaurant business, with locations primarily in the United States.