Portillo’s (NASDAQ:PTLO) Shares Gap Up – What’s Next?

Portillo’s Inc. (NASDAQ:PTLO) shares gapped up prior to trading on Monday . The stock had previously closed at $12.49, but opened at $12.95. Portillo’s shares last traded at $13.35, with a volume of 1,048,749 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PTLO. Morgan Stanley dropped their price objective on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Stephens restated an “equal weight” rating and issued a $13.00 price target on shares of Portillo’s in a report on Wednesday, November 6th. Stifel Nicolaus upgraded Portillo’s from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $16.00 in a report on Monday. Finally, UBS Group cut their target price on Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Portillo’s Trading Up 6.7 %

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 50-day moving average of $10.31 and a two-hundred day moving average of $11.32. The firm has a market capitalization of $989.38 million, a P/E ratio of 31.76, a P/E/G ratio of 12.23 and a beta of 1.72.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, analysts anticipate that Portillo’s Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Portillo’s

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in shares of Portillo’s during the second quarter valued at about $29,000. NBC Securities Inc. boosted its stake in Portillo’s by 43.5% during 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 last quarter. Ridgewood Investments LLC bought a new stake in Portillo’s during the 4th quarter worth approximately $47,000. nVerses Capital LLC purchased a new stake in shares of Portillo’s in the third quarter worth approximately $69,000. Finally, Sonora Investment Management Group LLC bought a new position in shares of Portillo’s in the fourth quarter valued at approximately $98,000. 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.