Robert W. Baird Lowers Portillo’s (NASDAQ:PTLO) Price Target to $15.00

Portillo’s (NASDAQ:PTLO) had its price objective decreased by equities research analysts at Robert W. Baird from $17.00 to $15.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 41.38% from the stock’s current price.

A number of other brokerages have also issued reports on PTLO. Stephens reiterated an “overweight” rating and set a $20.00 price target on shares of Portillo’s in a research note on Tuesday. Morgan Stanley reduced their target price on shares of Portillo’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, April 12th.

Portillo’s Trading Down 12.5 %

NASDAQ PTLO opened at $10.61 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.40 and a quick ratio of 0.32. The stock has a market capitalization of $774.21 million, a P/E ratio of 34.23, a PEG ratio of 1.56 and a beta of 1.86. The firm’s 50-day moving average is $13.08 and its two-hundred day moving average is $14.25. Portillo’s has a 12 month low of $10.33 and a 12 month high of $23.99.

Portillo’s (NASDAQ:PTLO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $165.83 million for the quarter, compared to analyst estimates of $174.90 million. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, sell-side analysts anticipate that Portillo’s will post 0.4 earnings per share for the current year.

Institutional Trading of Portillo’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. Vanguard Group Inc. grew its position in shares of Portillo’s by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,523,034 shares of the company’s stock worth $69,609,000 after acquiring an additional 57,451 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Portillo’s by 10.7% in the third quarter. Blair William & Co. IL now owns 2,495,995 shares of the company’s stock valued at $38,413,000 after acquiring an additional 241,069 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Portillo’s by 22.3% during the first quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company’s stock worth $22,300,000 after acquiring an additional 286,618 shares during the period. Granahan Investment Management LLC increased its stake in shares of Portillo’s by 33.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock worth $21,099,000 after acquiring an additional 334,731 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its position in Portillo’s by 2.2% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 627,555 shares of the company’s stock valued at $9,997,000 after purchasing an additional 13,325 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Portillo’s Company Profile

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.