Portillo's (NASDAQ:PTLO) Downgraded to "Hold" Rating by Baird R W

Baird R W cut shares of Portillo's (NASDAQ:PTLO - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, April 7th,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Stephens upped their target price on Portillo's from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Robert W. Baird reiterated a "neutral" rating and issued a $12.00 price objective (down previously from $15.00) on shares of Portillo's in a research note on Monday, April 7th. Morgan Stanley dropped their target price on shares of Portillo's from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. Stifel Nicolaus lifted their price target on shares of Portillo's from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, UBS Group cut their price objective on shares of Portillo's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.86.

Portillo's Trading Down 2.0 %

NASDAQ PTLO traded down $0.24 during trading hours on Monday, reaching $11.76. The company's stock had a trading volume of 705,769 shares, compared to its average volume of 1,346,736. Portillo's has a 52 week low of $8.38 and a 52 week high of $15.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31. The stock has a market cap of $877.33 million, a P/E ratio of 28.00, a P/E/G ratio of 14.77 and a beta of 1.82. The firm has a fifty day simple moving average of $13.21 and a 200-day simple moving average of $12.11.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.15. The company had revenue of $184.61 million for the quarter, compared to analysts' expectations of $185.16 million. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. Portillo's's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Equities analysts forecast that Portillo's will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portillo's

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management grew its stake in shares of Portillo's by 100.0% in the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $38,000 after acquiring an additional 2,000 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Portillo's in the 4th quarter worth approximately $47,000. Comerica Bank increased its position in shares of Portillo's by 172.6% during the 4th quarter. Comerica Bank now owns 5,395 shares of the company's stock valued at $51,000 after purchasing an additional 3,416 shares during the last quarter. Fund 1 Investments LLC purchased a new position in Portillo's in the fourth quarter valued at about $53,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Portillo's during the 4th quarter valued at approximately $62,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.