Portillo’s (NASDAQ:PTLO) Cut to Hold at Stifel Nicolaus

Portillo’s (NASDAQ:PTLO) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, FinViz reports. They presently have a $13.00 target price on the stock. Stifel Nicolaus’ target price points to a potential downside of 3.63% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley dropped their target price on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Stephens downgraded shares of Portillo’s from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research report on Monday, October 7th. Finally, Bank of America dropped their price target on shares of Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.86.

Portillo’s Trading Down 1.2 %

Shares of NASDAQ PTLO opened at $13.49 on Wednesday. The business has a fifty day simple moving average of $12.72 and a 200-day simple moving average of $11.24. The company has a market cap of $984.37 million, a price-to-earnings ratio of 35.50, a P/E/G ratio of 18.05 and a beta of 1.78. Portillo’s has a 12 month low of $8.66 and a 12 month high of $16.92. The company has a quick ratio of 0.30, a current ratio of 0.38 and a debt-to-equity ratio of 0.60.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $181.86 million for the quarter, compared to analysts’ expectations of $184.44 million. Portillo’s had a return on equity of 5.08% and a net margin of 3.30%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Sell-side analysts predict that Portillo’s will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its position in Portillo’s by 23.9% during the third quarter. Victory Capital Management Inc. now owns 78,766 shares of the company’s stock worth $1,061,000 after buying an additional 15,175 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Portillo’s by 38.6% during the 3rd quarter. GSA Capital Partners LLP now owns 95,060 shares of the company’s stock worth $1,280,000 after acquiring an additional 26,465 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Portillo’s by 23.7% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 40,994 shares of the company’s stock valued at $552,000 after acquiring an additional 7,852 shares during the last quarter. TFB Advisors LLC raised its stake in shares of Portillo’s by 14.7% in the 3rd quarter. TFB Advisors LLC now owns 27,585 shares of the company’s stock valued at $372,000 after acquiring an additional 3,542 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Portillo’s by 0.6% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 715,345 shares of the company’s stock worth $9,636,000 after purchasing an additional 4,425 shares during the last quarter. Institutional investors 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.