Morgan Stanley Has Lowered Expectations for Portillo’s (NASDAQ:PTLO) Stock Price

Portillo’s (NASDAQ:PTLO) had its target price lowered by Morgan Stanley from $15.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 10.73% from the company’s current price.

PTLO has been the topic of a number of other reports. Stephens reiterated an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a research report on Wednesday, November 6th. 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 report on Tuesday, January 7th. Finally, Stifel Nicolaus cut Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.57.

Portillo’s Stock Up 0.1 %

Shares of NASDAQ PTLO opened at $11.74 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. The company has a market cap of $871.34 million, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 12.32 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 firm’s 50-day simple moving average is $10.29 and its 200 day simple moving average is $11.24.

Portillo’s (NASDAQ:PTLO) last announced its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $178.25 million for the quarter, compared to analyst estimates of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. On average, research analysts expect that Portillo’s will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. Engaged Capital LLC increased its stake in Portillo’s by 121.5% in the third quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock valued at $82,368,000 after purchasing an additional 3,354,513 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Portillo’s by 10.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock valued at $24,086,000 after buying an additional 175,999 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Portillo’s by 2.6% during the third quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company’s stock worth $15,838,000 after acquiring an additional 32,810 shares in the last quarter. Emerald Advisers LLC grew its stake in Portillo’s by 29.4% in the third quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock valued at $17,137,000 after acquiring an additional 288,675 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Portillo’s by 4.0% in the third quarter. Geode Capital Management LLC now owns 1,270,142 shares of the company’s stock worth $17,113,000 after acquiring an additional 49,181 shares in 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.