Portillo’s (NASDAQ:PTLO) Stock Price Up 4.5% – What’s Next?

Portillo’s Inc. (NASDAQ:PTLO) rose 4.5% during mid-day trading on Tuesday . The stock traded as high as $12.83 and last traded at $12.81. Approximately 217,953 shares traded hands 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 research analysts have recently issued reports on PTLO shares. 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, July 16th. Stifel Nicolaus cut their price target on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, July 12th. Bank of America decreased their price objective on 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 lowered Portillo’s from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.86.

Portillo’s Stock Performance

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 firm has a market capitalization of $931.16 million, a price-to-earnings ratio of 32.13, a PEG ratio of 15.49 and a beta of 1.78. The stock has a fifty day moving average price of $12.25 and a 200-day moving average price of $11.25.

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

Institutional Trading of Portillo’s

Several hedge funds have recently modified their holdings of the company. NBC Securities Inc. grew its position in Portillo’s by 43.5% during the 3rd quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Portillo’s in the second quarter valued at $29,000. Select Equity Group L.P. increased its stake in shares of Portillo’s by 2.6% in the second quarter. Select Equity Group L.P. now owns 112,424 shares of the company’s stock valued at $1,093,000 after buying an additional 2,897 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Portillo’s by 21.2% in the second quarter. The Manufacturers Life Insurance Company now owns 20,902 shares of the company’s stock valued at $203,000 after buying an additional 3,661 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Portillo’s by 499.4% during the 2nd quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock worth $3,812,000 after acquiring an additional 326,743 shares during the last quarter. 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.