Portillo’s (NASDAQ:PTLO) Price Target Cut to $13.00 by Analysts at Morgan Stanley

Portillo’s (NASDAQ:PTLO) had its target price reduced by Morgan Stanley from $15.00 to $13.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Stephens reissued an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a research note on Wednesday, November 6th. Stifel Nicolaus downgraded Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a report on Wednesday, November 6th. Finally, UBS Group decreased their price objective on Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.57.

Portillo’s Trading Up 1.4 %

Shares of NASDAQ PTLO opened at $11.90 on Tuesday. Portillo’s has a twelve month low of $8.38 and a twelve month high of $16.17. The firm has a market cap of $883.22 million, a PE ratio of 28.33, a price-to-earnings-growth ratio of 12.32 and a beta of 1.72. The business has a fifty day simple moving average of $10.29 and a two-hundred day simple moving average of $11.24. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The firm had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. During the same period in the previous year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Portillo’s will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

Several hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in Portillo’s in the 2nd quarter worth approximately $29,000. NBC Securities Inc. raised its holdings in shares of Portillo’s by 43.5% in the third quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Portillo’s during the fourth quarter worth $47,000. nVerses Capital LLC acquired a new stake in shares of Portillo’s during the third quarter worth $69,000. Finally, Perfromance Wealth Partners LLC purchased a new stake in shares of Portillo’s during the fourth quarter valued at $145,000. 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.