Portillo's (NASDAQ:PTLO) Rating Lowered to "Hold" at Stifel Nicolaus

Stifel Nicolaus lowered shares of Portillo's (NASDAQ:PTLO - Free Report) from a buy rating to a hold rating in a research note released on Wednesday, MarketBeat reports. The firm currently has $13.00 price objective on the stock.

Several other equities research analysts have also issued reports on the company. Bank of America dropped their price target on Portillo's from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Stephens downgraded Portillo's from an "overweight" rating to an "equal weight" rating and set a $13.00 target price on the stock. in a research report on Monday, October 7th. Finally, Morgan Stanley decreased their price objective 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.00.

Portillo's Price Performance

PTLO traded down $0.35 during trading on Wednesday, hitting $13.14. 1,436,310 shares of the stock traded hands, compared to its average volume of 1,037,222. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.38 and a quick ratio of 0.30. Portillo's has a twelve month low of $8.66 and a twelve month high of $16.92. The company has a market cap of $958.83 million, a price-to-earnings ratio of 34.58, a PEG ratio of 17.75 and a beta of 1.78. The business has a 50 day moving average price of $12.74 and a 200 day moving average price of $11.25.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $178.25 million for the quarter, compared to analyst estimates of $182.07 million. Portillo's had a net margin of 3.30% and a return on equity of 5.08%. Portillo's's revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. Equities research analysts forecast that Portillo's will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo's

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