Morgan Stanley upgraded shares of Portillo's (NASDAQ:PTLO – Get Rating) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.
Separately, Deutsche Bank Aktiengesellschaft assumed coverage on Portillo's in a research note on Thursday, September 29th. They set a hold rating and a $22.00 price target for the company.
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Portillo's Stock Performance
NASDAQ:PTLO opened at $21.23 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.71. Portillo's has a 12-month low of $14.84 and a 12-month high of $29.55. The stock has a 50-day moving average price of $18.86 and a 200 day moving average price of $20.77. The stock has a market capitalization of $900.22 million, a P/E ratio of -60.66 and a beta of 1.76.
Portillo's (NASDAQ:PTLO – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Portillo's had a negative return on equity of 2.69% and a negative net
margin of 2.04%. The firm had revenue of $151.12 million during the quarter, compared to analysts' expectations of $149.07 million. Equities research analysts forecast that Portillo's will post 0.21 EPS for the current fiscal year.
Insider Activity at Portillo's
In related news, SVP Nicholas Anthony Scarpino sold 21,500 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $25.38, for a total transaction of $545,670.00. Following the completion of the transaction, the senior vice president now directly owns 9,655 shares of the company's stock, valued at $245,043.90. The sale was disclosed in a filing with the SEC, which is available through this link. 5.33% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Portillo's
Several institutional investors have recently modified their holdings of PTLO. Vanguard Group Inc. lifted its stake in shares of Portillo's by 41.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,583,288 shares of the company's stock valued at $50,866,000 after purchasing an additional 752,280 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Portillo's in the 2nd quarter valued at approximately $10,081,000. Emerald Advisers LLC lifted its stake in shares of Portillo's by 60.8% in the 3rd quarter. Emerald Advisers LLC now owns 741,124 shares of the company's stock valued at $14,593,000 after purchasing an additional 280,291 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Portillo's by 21.6% in the 3rd quarter. BlackRock Inc. now owns 1,516,245 shares of the company's stock valued at $29,854,000 after purchasing an additional 269,526 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of Portillo's by 55.4% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 631,152 shares of the company's stock valued at $12,427,000 after purchasing an additional 225,119 shares during the last quarter. 72.88% of the stock is owned by institutional investors.
About Portillo's
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Portillo's Inc owns and operates fast casual and quick service restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and milkshakes. As of June 26, 2022, it owned and operated 71 Portillo's restaurants across nine states.
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