Portillo’s (NASDAQ:PTLO) Trading Down 3.7%

Portillo’s Inc. (NASDAQ:PTLO) shares were down 3.7% during mid-day trading on Wednesday . The stock traded as low as $12.45 and last traded at $12.45. Approximately 143,608 shares traded hands during trading, a decline of 83% from the average daily volume of 865,580 shares. The stock had previously closed at $12.93.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PTLO shares. Morgan Stanley reduced their price target on shares of Portillo’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, April 12th. Stephens assumed coverage on Portillo’s in a research report on Friday, April 12th. They set an “overweight” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Portillo’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

Portillo’s Price Performance

The stock’s 50 day simple moving average is $13.62 and its 200 day simple moving average is $14.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.32 and a current ratio of 0.40. The firm has a market capitalization of $856.67 million, a P/E ratio of 37.87, a P/E/G ratio of 1.51 and a beta of 1.85.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.08. The company had revenue of $187.86 million for the quarter, compared to analysts’ expectations of $184.95 million. Portillo’s had a return on equity of 4.79% and a net margin of 2.71%. Portillo’s’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 earnings per share. As a group, analysts expect that Portillo’s Inc. will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

Several institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. increased its position in Portillo’s by 1.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 35,782 shares of the company’s stock valued at $585,000 after purchasing an additional 504 shares during the period. LPL Financial LLC lifted its stake in shares of Portillo’s by 0.8% during the 1st quarter. LPL Financial LLC now owns 65,765 shares of the company’s stock worth $1,405,000 after purchasing an additional 552 shares during the last quarter. Bank of America Corp DE boosted its position in Portillo’s by 0.9% during the first quarter. Bank of America Corp DE now owns 77,017 shares of the company’s stock valued at $1,646,000 after purchasing an additional 659 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Portillo’s by 28.6% in the 4th quarter. Assetmark Inc. now owns 3,222 shares of the company’s stock valued at $51,000 after buying an additional 717 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Portillo’s by 8.8% in the third quarter. Envestnet Asset Management Inc. now owns 10,197 shares of the company’s stock valued at $157,000 after acquiring an additional 828 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.