Positive Report for Portillo’s (PTLO) from Stifel Nicolaus

TipRanks

Mar. 19, 2023, 07:45 PM

In a report released yesterday, Chris O`Cull from Stifel Nicolaus upgraded Portillo’s (PTLO – Research Report) to a Buy, with a price target of $24.00. The company’s shares closed last Friday at $20.23.

O`Cull covers the Services sector, focusing on stocks such as Portillo’s, Shake Shack, and Planet Fitness. According to TipRanks, O`Cull has an average return of 11.8% and a 61.51% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Portillo’s with a $28.00 average price target, which is a 38.41% upside from current levels. In a report released on March 9, Jefferies also reiterated a Buy rating on the stock with a $30.00 price target.

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Based on Portillo’s’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $150.88 million and a net profit of $3.95 million. In comparison, last year the company earned a revenue of $138.91 million and had a GAAP net loss of $14.41 million

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTLO in relation to earlier this year.

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Portillos Inc serves the Chicago street food industry through high-energy and multichannel restaurants. It owns and operates fast-casual restaurants in the United States, along with two food production commissaries in Illinois. Its menu includes hot dogs, beef and sausage sandwiches, sandwiches and ribs, salads, burgers, chicken, Barnelli’s pasta, sides and soup, and desserts and shakes.

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