Sat Oct 05 03:17:44 UTC 2024: ## El Pollo Loco Stock Rating Downgraded, but Institutional Investors Remain Bullish
**Los Angeles, CA (October 4, 2024):** El Pollo Loco (NASDAQ: LOCO), the popular fast-casual chicken restaurant chain, has seen its stock rating downgraded by StockNews.com from “buy” to “hold.” This comes despite a positive earnings report released in August, where the company exceeded revenue and earnings per share expectations.
The downgrade was issued on Friday, October 4th, and follows an earlier “hold” rating issued by Truist Financial, who also raised their target price from $12.00 to $13.00.
Despite the analysts’ concerns, institutional investors remain optimistic about El Pollo Loco’s prospects. Major shareholder Sardar Biglari recently purchased 21,325 shares of the company’s stock, increasing his stake to 159,241 shares.
Several institutional investors have also recently bought and sold shares of LOCO. AdvisorShares Investments LLC, Fund 1 Investments LLC, Sierra Summit Advisors LLC, BNP Paribas Financial Markets, and GSA Capital Partners LLP have all made significant investments in the company.
El Pollo Loco has continued to expand its reach, with restaurants now located in California, Nevada, Arizona, Texas, Colorado, Utah, and Louisiana. They have also licensed their brand to restaurants in the Philippines.
Overall, El Pollo Loco is facing a mixed outlook, with some analysts expressing caution while others, including large institutional investors, remain optimistic. The company’s continued growth and recent positive earnings results suggest a promising future, but it remains to be seen how the recent stock rating downgrade will affect investor confidence.
First Piper 