Portillo’s (NASDAQ:PTLO) Shares Down 3.7%

Portillo’s Inc. (NASDAQ:PTLO)’s share price fell 3.7% on Wednesday . The company traded as low as $12.45 and last traded at $12.45. 143,608 shares were traded during trading, a decline of 83% from the average session volume of 865,580 shares. The stock had previously closed at $12.93.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTLO. Morgan Stanley dropped their target price on shares of Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, April 12th. Stephens began coverage on shares of Portillo’s in a report on Friday, April 12th. They issued an “overweight” rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Portillo’s has an average rating of “Moderate Buy” and an average price target of $22.43.

Portillo’s Stock Down 2.7 %

The stock’s 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $14.59. The firm has a market cap of $917.96 million, a P/E ratio of 40.19, a P/E/G ratio of 1.53 and a beta of 1.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.40 and a quick ratio of 0.32.

Portillo’s (NASDAQ:PTLO) last announced its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The business had revenue of $187.86 million during the quarter, compared to the consensus estimate of $184.95 million. During the same quarter last year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, research analysts forecast that Portillo’s Inc. will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Portillo’s

A number of institutional investors and hedge funds have recently made changes to their positions in PTLO. Samlyn Capital LLC bought a new stake in shares of Portillo’s during the first quarter valued at approximately $47,879,000. Norges Bank bought a new stake in shares of Portillo’s during the fourth quarter valued at approximately $22,032,000. Balyasny Asset Management L.P. increased its position in shares of Portillo’s by 2,309.9% during the first quarter. Balyasny Asset Management L.P. now owns 1,346,532 shares of the company’s stock valued at $28,775,000 after acquiring an additional 1,290,658 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Portillo’s by 521.7% during the second quarter. Point72 Asset Management L.P. now owns 1,051,930 shares of the company’s stock valued at $23,700,000 after acquiring an additional 882,738 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Portillo’s by 41.1% during the third quarter. Vanguard Group Inc. now owns 2,583,288 shares of the company’s stock valued at $50,866,000 after acquiring an additional 752,280 shares in the last quarter. Institutional investors 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.