Portillo’s (NASDAQ:PTLO) Shares Up 5.9% – Here’s Why

Portillo’s Inc. (NASDAQ:PTLO) shares shot up 5.9% during trading on Friday . The stock traded as high as $9.77 and last traded at $9.74. 473,246 shares traded hands during trading, a decline of 62% from the average session volume of 1,261,511 shares. The stock had previously closed at $9.20.

Wall Street Analyst Weigh In

PTLO has been the topic of several recent research reports. UBS Group decreased their target price on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday. Stephens reaffirmed an “equal weight” rating and set a $13.00 target price on shares of Portillo’s in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lowered shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.57.

Portillo’s Trading Up 7.2 %

The company has a market capitalization of $731.83 million, a price-to-earnings ratio of 23.48, a P/E/G ratio of 10.96 and a beta of 1.72. 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 company’s 50 day simple moving average is $10.55 and its two-hundred day simple moving average is $11.14.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in Portillo’s in the fourth quarter valued at $47,000. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 175,999 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Portillo’s by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company’s stock valued at $15,838,000 after purchasing an additional 32,810 shares during the last quarter. Barclays PLC boosted its holdings in Portillo’s by 55.6% in the 3rd quarter. Barclays PLC now owns 117,430 shares of the company’s stock valued at $1,581,000 after purchasing an additional 41,944 shares during the last quarter. Finally, First Dallas Securities Inc. purchased a new stake in shares of Portillo’s in the 3rd quarter valued at approximately $300,000. Hedge funds and other 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.