Portillo’s (NASDAQ:PTLO) Price Target Lowered to $16.00 at Morgan Stanley

Portillo’s (NASDAQ:PTLO) had its price target reduced by Morgan Stanley from $17.00 to $16.00 in a research note published on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Stephens assumed coverage on Portillo’s in a research report on Friday. They issued an overweight rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $22.43.

Portillo’s Stock Down 1.9 %

Portillo’s stock opened at $12.68 on Friday. The firm has a market cap of $925.26 million, a price-to-earnings ratio of 40.90, a PEG ratio of 1.56 and a beta of 1.85. Portillo’s has a 52-week low of $12.57 and a 52-week high of $23.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.32 and a current ratio of 0.40. The firm has a 50 day moving average price of $13.66 and a two-hundred day moving average price of $14.59.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.08. The company had revenue of $187.86 million during the quarter, compared to analysts’ expectations of $184.95 million. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. Portillo’s’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. Equities analysts predict that Portillo’s will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Portillo’s

Several institutional investors have recently made changes to their positions in PTLO. Raymond James & Associates grew its stake in shares of Portillo’s by 41.0% in the 1st quarter. Raymond James & Associates now owns 45,306 shares of the company’s stock valued at $1,113,000 after buying an additional 13,170 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Portillo’s by 57.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 33,964 shares of the company’s stock valued at $834,000 after acquiring an additional 12,455 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Portillo’s by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 70,644 shares of the company’s stock valued at $1,735,000 after acquiring an additional 3,511 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Portillo’s by 25.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 37,552 shares of the company’s stock worth $922,000 after purchasing an additional 7,601 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Portillo’s by 55.4% during the first quarter. MetLife Investment Management LLC now owns 14,070 shares of the company’s stock worth $346,000 after purchasing an additional 5,017 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.