Wall Street Zen upgraded shares of Portillo’s (NASDAQ:PTLO – Free Report) from a sell rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.
A number of other equities research analysts have also weighed in on PTLO. Weiss Ratings reissued a “sell (d)” rating on shares of Portillo’s in a research note on Monday, August 3rd. Stephens reiterated an “equal weight” rating and set a $5.00 target price on shares of Portillo’s in a report on Thursday, August 6th. Finally, Robert W. Baird upgraded Portillo’s to a “hold” rating in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.92.
Check Out Our Latest Stock Report on Portillo’s
Portillo’s Stock Performance
Portillo’s (NASDAQ:PTLO – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Portillo’s had a return on equity of 2.78% and a net margin of 1.85%.The company had revenue of $198.95 million for the quarter, compared to analysts’ expectations of $199.22 million. During the same period last year, the firm posted $0.12 EPS. Portillo’s’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts forecast that Portillo’s will post 0.19 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director I Jr acquired 65,355 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $4.59 per share, with a total value of $299,979.45. Following the transaction, the director owned 551,770 shares in the company, valued at $2,532,624.30. The trade was a 13.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 6.34% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Portillo’s by 731.1% during the first quarter. Royal Bank of Canada now owns 156,710 shares of the company’s stock valued at $1,864,000 after purchasing an additional 137,854 shares in the last quarter. AQR Capital Management LLC purchased a new position in Portillo’s during the first quarter valued at $318,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Portillo’s by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,550 shares of the company’s stock valued at $387,000 after buying an additional 1,808 shares during the period. Cetera Investment Advisers bought a new stake in shares of Portillo’s during the 2nd quarter valued at $145,000. Finally, Legal & General Group Plc boosted its holdings in shares of Portillo’s by 45.4% during the 2nd quarter. Legal & General Group Plc now owns 74,056 shares of the company’s stock valued at $864,000 after buying an additional 23,115 shares in the last quarter. Hedge funds and other institutional investors 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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