Portillo’s (NASDAQ:PTLO) Sees Unusually-High Trading Volume – What’s Next?

Portillo’s Inc. (NASDAQ:PTLO) shares saw an uptick in trading volume on Tuesday . 1,278,526 shares traded hands during mid-day trading, a decline of 18% from the previous session’s volume of 1,559,100 shares.The stock last traded at $11.76 and had previously closed at $10.15.

Analysts Set New Price Targets

A number of brokerages have weighed in on PTLO. Stifel Nicolaus cut Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a research report on Wednesday, November 6th. Stephens reissued an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a research report on Wednesday, November 6th. Finally, UBS Group cut their price objective on Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.57.

Portillo’s Stock Down 2.4 %

The firm has a 50-day moving average of $10.34 and a two-hundred day moving average of $11.18. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The firm has a market cap of $870.60 million, a price-to-earnings ratio of 27.93, a PEG ratio of 10.75 and a beta of 1.72.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm had revenue of $178.25 million during the quarter, compared to analysts’ expectations of $182.07 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. As a group, sell-side analysts predict that Portillo’s Inc. will post 0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

Several large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Portillo’s in the 2nd quarter valued at approximately $29,000. NBC Securities Inc. grew its stake in shares of Portillo’s by 43.5% in the 3rd quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock valued at $44,000 after purchasing an additional 1,000 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Portillo’s in the 4th quarter valued at approximately $47,000. nVerses Capital LLC bought a new stake in shares of Portillo’s in the 3rd quarter valued at approximately $69,000. Finally, Arizona State Retirement System grew its stake in shares of Portillo’s by 24.9% in the 2nd quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock valued at $159,000 after purchasing an additional 3,261 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.