Portillo’s (NASDAQ:PTLO) Trading Down 6% – Here’s What Happened

Shares of Portillo’s Inc. (NASDAQ:PTLO) dropped 6% during trading on Wednesday . The stock traded as low as $13.97 and last traded at $14.01. Approximately 296,841 shares changed hands during trading, a decline of 84% from the average daily volume of 1,890,654 shares. The stock had previously closed at $14.90.

Analyst Ratings Changes

Several research firms recently commented on PTLO. UBS Group reduced their price objective on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley cut 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. Stifel Nicolaus upgraded Portillo’s from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $16.00 in a research note on Monday, January 27th. Finally, Stephens lifted their price objective on shares of Portillo’s from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday. Three equities 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, Portillo’s currently has an average rating of “Moderate Buy” and a consensus target price of $14.14.

Portillo’s Stock Down 5.2 %

The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average is $12.05 and its two-hundred day moving average is $12.05. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 14.77 and a beta of 1.81.

Portillo’s (NASDAQ:PTLO) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $184.61 million during the quarter, compared to the consensus estimate of $185.16 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. Equities analysts anticipate that Portillo’s Inc. will post 0.35 EPS for the current year.

Institutional Trading of Portillo’s

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in Portillo’s during the third quarter worth $3,165,000. Rice Hall James & Associates LLC lifted its stake in Portillo’s by 51.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 207,945 shares of the company’s stock worth $2,801,000 after acquiring an additional 70,409 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Portillo’s by 11.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 899,461 shares of the company’s stock valued at $12,116,000 after acquiring an additional 94,817 shares during the period. Emerald Advisers LLC grew its position in Portillo’s by 29.4% in the 3rd quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock valued at $17,137,000 after acquiring an additional 288,675 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Portillo’s by 10.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock valued at $24,086,000 after acquiring an additional 175,999 shares in 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.