Portillo’s (NASDAQ:PTLO) Trading 4.5% Higher – Here’s What Happened

Portillo’s Inc. (NASDAQ:PTLO)’s stock price rose 4.5% during trading on Tuesday . The stock traded as high as $12.83 and last traded at $12.81. Approximately 217,953 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,040,377 shares. The stock had previously closed at $12.26.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PTLO. Stifel Nicolaus reduced their price target on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Bank of America decreased their price objective on shares of Portillo’s from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Stephens cut Portillo’s from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a research report on Monday, October 7th. Finally, Morgan Stanley reduced their price target on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Portillo’s has an average rating of “Moderate Buy” and an average price target of $13.86.

Portillo’s Price Performance

The stock has a market cap of $908.54 million, a price-to-earnings ratio of 31.63, a P/E/G ratio of 15.49 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average is $12.36 and its two-hundred day moving average is $11.25.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The business had revenue of $181.86 million during the quarter, compared to analysts’ expectations of $184.44 million. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, research analysts predict that Portillo’s Inc. will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Portillo’s

Large investors have recently bought and sold shares of the stock. HighPoint Advisor Group LLC purchased a new stake in Portillo’s in the fourth quarter valued at approximately $449,000. WoodTrust Financial Corp increased its stake in Portillo’s by 31.4% in the first quarter. WoodTrust Financial Corp now owns 40,400 shares of the company’s stock valued at $573,000 after purchasing an additional 9,650 shares during the period. Wolff Wiese Magana LLC raised its holdings in shares of Portillo’s by 16.4% in the first quarter. Wolff Wiese Magana LLC now owns 34,333 shares of the company’s stock valued at $487,000 after buying an additional 4,840 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Portillo’s by 241.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock worth $54,000 after buying an additional 2,694 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Portillo’s by 22.3% during the first quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company’s stock worth $22,300,000 after buying an additional 286,618 shares during the period. Institutional investors and hedge funds 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.