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

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

Wall Street Analyst Weigh In

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

Portillo’s Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 0.38. The company has a 50-day moving average of $12.36 and a 200-day moving average of $11.25. The stock has a market capitalization 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.

Portillo’s (NASDAQ:PTLO) last posted 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 company had revenue of $181.86 million for the quarter, compared to analysts’ expectations of $184.44 million. Portillo’s had a return on equity of 5.08% and a net margin of 3.30%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. As a group, equities research analysts expect that Portillo’s Inc. will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its position in shares of Portillo’s by 10.4% in the first quarter. California State Teachers Retirement System now owns 54,329 shares of the company’s stock worth $770,000 after buying an additional 5,120 shares during the period. Engaged Capital LLC increased its position in Portillo’s by 38.7% in the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock valued at $26,832,000 after acquiring an additional 770,443 shares during the period. Swiss National Bank lifted its holdings in Portillo’s by 17.4% in the first quarter. Swiss National Bank now owns 108,400 shares of the company’s stock worth $1,537,000 after purchasing an additional 16,100 shares during the period. Entropy Technologies LP bought a new position in shares of Portillo’s in the first quarter valued at approximately $188,000. Finally, Victory Capital Management Inc. boosted its stake in Portillo’s by 218.1% during the second quarter. Victory Capital Management Inc. now owns 63,591 shares of the company’s stock valued at $618,000 after buying an additional 43,602 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Portillo’s Company Profile

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.