Morgan Stanley Trims Portillo’s (NASDAQ:PTLO) Target Price to $16.00

Portillo’s (NASDAQ:PTLO) had its price target cut by equities research analysts at Morgan Stanley from $17.00 to $16.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 23.84% from the stock’s previous close.

Separately, Stephens began coverage on Portillo’s in a research note on Friday. They issued an “overweight” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.43.

Portillo’s Stock Down 1.8 %

PTLO stock opened at $12.92 on Friday. The stock’s 50 day simple moving average is $13.67 and its 200 day simple moving average is $14.61. Portillo’s has a fifty-two week low of $12.57 and a fifty-two week high of $23.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.32 and a current ratio of 0.40. The company has a market cap of $942.84 million, a P/E ratio of 41.68, a price-to-earnings-growth ratio of 1.59 and a beta of 1.85.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The business had revenue of $187.86 million for the quarter, compared to the consensus estimate of $184.95 million. Portillo’s had a return on equity of 4.79% and a net margin of 2.71%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. On average, research analysts expect that Portillo’s will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Portillo’s

A number of institutional investors and hedge funds have recently modified their holdings of PTLO. Samlyn Capital LLC purchased a new stake in shares of Portillo’s during the first quarter valued at approximately $47,879,000. Norges Bank bought a new position in Portillo’s during the fourth quarter valued at $22,032,000. Balyasny Asset Management L.P. grew its holdings in Portillo’s by 2,309.9% during the first quarter. Balyasny Asset Management L.P. now owns 1,346,532 shares of the company’s stock valued at $28,775,000 after purchasing an additional 1,290,658 shares during the period. Point72 Asset Management L.P. grew its holdings in Portillo’s by 521.7% during the second quarter. Point72 Asset Management L.P. now owns 1,051,930 shares of the company’s stock valued at $23,700,000 after purchasing an additional 882,738 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Portillo’s by 41.1% during the third quarter. Vanguard Group Inc. now owns 2,583,288 shares of the company’s stock valued at $50,866,000 after purchasing an additional 752,280 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.