Portillo’s (NASDAQ:PTLO) Shares Down 7.5% – Here’s Why

Shares of Portillo’s Inc. (NASDAQ:PTLO) dropped 7.5% during mid-day trading on Monday . The stock traded as low as $10.69 and last traded at $10.66. Approximately 355,335 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,348,983 shares. The stock had previously closed at $11.53.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PTLO shares. Stifel Nicolaus increased their price target on Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Morgan Stanley set a $12.00 target price on Portillo’s in a research note on Monday, April 14th. Baird R W lowered shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Robert W. Baird restated a “neutral” rating and set a $12.00 price objective (down previously from $15.00) on shares of Portillo’s in a report on Monday, April 7th. Finally, UBS Group dropped 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 note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.71.

Portillo’s Stock Down 0.3 %

The firm has a market capitalization of $808.70 million, a P/E ratio of 25.81, a PEG ratio of 14.77 and a beta of 1.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. The stock has a 50 day moving average of $12.73 and a 200-day moving average of $12.04.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.15. The company had revenue of $184.61 million for the quarter, compared to analyst estimates of $185.16 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Research analysts predict that Portillo’s Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

Large investors have recently made changes to their positions in the stock. Hollencrest Capital Management raised its stake in shares of Portillo’s by 100.0% during the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $38,000 after purchasing an additional 2,000 shares during the period. North Star Investment Management Corp. grew its holdings in Portillo’s by 137.6% during the 1st quarter. North Star Investment Management Corp. now owns 3,517 shares of the company’s stock valued at $42,000 after buying an additional 2,037 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Portillo’s during the fourth quarter valued at about $47,000. Comerica Bank lifted its holdings in shares of Portillo’s by 172.6% in the fourth quarter. Comerica Bank now owns 5,395 shares of the company’s stock worth $51,000 after buying an additional 3,416 shares in the last quarter. Finally, Fund 1 Investments LLC purchased a new position in Portillo’s during the fourth quarter valued at approximately $53,000. 98.34% of the stock is owned by institutional investors.

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.