Morgan Stanley Cuts Portillo’s (NASDAQ:PTLO) Price Target to $13.00

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

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

Portillo’s Price Performance

Shares of PTLO stock opened at $11.94 on Tuesday. The stock has a 50-day moving average price of $10.28 and a 200 day moving average price of $11.26. The firm has a market cap of $886.21 million, a price-to-earnings ratio of 28.43, a PEG ratio of 12.49 and a beta of 1.72. Portillo’s has a 12 month low of $8.38 and a 12 month high of $16.17. 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 issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $178.25 million during the quarter, compared to analyst estimates of $182.07 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. Portillo’s’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. Research analysts expect that Portillo’s will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its position in shares of Portillo’s by 2.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 32,207 shares of the company’s stock valued at $434,000 after purchasing an additional 781 shares during the last quarter. NBC Securities Inc. grew its position in Portillo’s by 43.5% during the 3rd quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares during the last quarter. Lakewood Asset Management LLC lifted its holdings in shares of Portillo’s by 2.2% during the fourth quarter. Lakewood Asset Management LLC now owns 104,638 shares of the company’s stock worth $984,000 after purchasing an additional 2,251 shares during the period. Select Equity Group L.P. grew its position in Portillo’s by 2.6% during the 2nd quarter. Select Equity Group L.P. now owns 112,424 shares of the company’s stock worth $1,093,000 after purchasing an additional 2,897 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Portillo’s during the second quarter worth $29,000. 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.