Portillo’s (NASDAQ:PTLO – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.
Other analysts have also recently issued research reports about the company. Morgan Stanley lowered their price objective on Portillo’s from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Stephens reiterated an “equal weight” rating and issued a $5.00 price target on shares of Portillo’s in a research note on Thursday, August 6th. Robert W. Baird raised Portillo’s to a “hold” rating in a report on Monday, August 24th. Piper Sandler dropped their price target on Portillo’s from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Finally, Guggenheim lowered Portillo’s from a “buy” rating to a “neutral” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.92.
Read Our Latest Research Report on PTLO
Portillo’s Price Performance
Portillo’s (NASDAQ:PTLO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Portillo’s had a net margin of 1.85% and a return on equity of 2.78%. The firm had revenue of $198.95 million during the quarter, compared to analysts’ expectations of $199.22 million. During the same quarter in the prior year, the company earned $0.12 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Portillo’s will post 0.19 earnings per share for the current year.
Insider Transactions at Portillo’s
In other Portillo’s news, Director Eugene I. Lee, Jr. purchased 65,355 shares of the stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $4.59 per share, with a total value of $299,979.45. Following the completion of the acquisition, the director owned 551,770 shares in the company, valued at $2,532,624.30. This trade represents a 13.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.34% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Portillo’s
Several institutional investors and hedge funds have recently modified their holdings of the stock. Essential Partners LLC increased its holdings in Portillo’s by 83,350.0% in the first quarter. Essential Partners LLC now owns 5,007 shares of the company’s stock valued at $26,000 after buying an additional 5,001 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Portillo’s by 69.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock worth $63,000 after acquiring an additional 2,227 shares in the last quarter. CWM LLC grew its position in shares of Portillo’s by 37.6% during the 4th quarter. CWM LLC now owns 7,216 shares of the company’s stock valued at $33,000 after acquiring an additional 1,973 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Portillo’s during the 4th quarter valued at about $34,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Portillo’s by 336.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,135 shares of the company’s stock valued at $95,000 after purchasing an additional 6,271 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.
About Portillo’s
Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.
The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.
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