Portillo’s (NASDAQ:PTLO) Given New $27.00 Price Target at Piper Sandler

Portillo’s (NASDAQ:PTLOGet Rating) had its price objective hoisted by Piper Sandler from $23.00 to $27.00 in a research report report published on Friday, The Fly reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley initiated coverage on shares of Portillo’s in a research note on Tuesday, June 28th. They issued an equal weight rating and a $19.00 price target for the company. Robert W. Baird cut their price objective on shares of Portillo’s from $31.00 to $26.00 in a research note on Friday, May 6th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Portillo’s currently has a consensus rating of Moderate Buy and a consensus price target of $43.67.

Portillo’s Stock Performance

Portillo’s stock opened at $26.58 on Friday. The firm’s 50 day simple moving average is $18.83 and its 200 day simple moving average is $21.71. The company has a current ratio of 0.94, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $952.89 million and a PE ratio of -69.95. Portillo’s has a 1-year low of $14.84 and a 1-year high of $57.73.

Portillo’s (NASDAQ:PTLOGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Portillo’s had a negative net margin of 1.21% and a negative return on equity of 2.04%. The business had revenue of $150.60 million for the quarter, compared to analyst estimates of $151.90 million. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts expect that Portillo’s will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Portillo’s

In related news, SVP Nicholas Anthony Scarpino sold 65,506 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $18.39, for a total transaction of $1,204,655.34. Following the completion of the sale, the senior vice president now directly owns 10,700 shares in the company, valued at approximately $196,773. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Portillo’s news, insider Jill Francine Waite sold 44,614 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $19.10, for a total value of $852,127.40. Following the completion of the transaction, the insider now directly owns 21,900 shares in the company, valued at approximately $418,290. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicholas Anthony Scarpino sold 65,506 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $18.39, for a total transaction of $1,204,655.34. Following the completion of the transaction, the senior vice president now owns 10,700 shares of the company’s stock, valued at $196,773. The disclosure for this sale can be found here. 5.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust raised its holdings in Portillo’s by 97.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 406,033 shares of the company’s stock worth $6,639,000 after purchasing an additional 200,580 shares in the last quarter. Emerald Advisers LLC increased its stake in shares of Portillo’s by 88.9% in the 2nd quarter. Emerald Advisers LLC now owns 460,833 shares of the company’s stock worth $7,535,000 after acquiring an additional 216,906 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Portillo’s in the 2nd quarter worth about $39,000. CWM LLC bought a new position in shares of Portillo’s in the 2nd quarter worth about $29,000. Finally, WoodTrust Financial Corp bought a new position in shares of Portillo’s in the 2nd quarter worth about $244,000. 82.55% of the stock is currently owned by institutional investors.

About Portillo’s

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Portillo's Inc, together with its subsidiaries, engages in the ownership and operation of fast casual and quick service 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 shakes.

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