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

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Stephens assumed coverage on Portillo’s in a research report on Friday, April 12th. They issued an “overweight” rating and a $20.00 price objective for the company. Morgan Stanley lowered their price objective on Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.43.

Portillo’s Price Performance

The firm has a market capitalization of $917.96 million, a P/E ratio of 40.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.85. The business has a 50-day moving average of $13.66 and a 200 day moving average of $14.59. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 0.62.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. Portillo’s had a return on equity of 4.79% and a net margin of 2.71%. The business had revenue of $187.86 million during the quarter, compared to analyst estimates of $184.95 million. During the same period in the previous year, the company posted $0.08 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, sell-side analysts predict that Portillo’s Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Portillo’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. Samlyn Capital LLC bought a new stake in Portillo’s in the 1st quarter valued at about $47,879,000. Norges Bank bought a new stake in Portillo’s during the 4th quarter worth approximately $22,032,000. Balyasny Asset Management L.P. increased its holdings in Portillo’s by 2,309.9% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,346,532 shares of the company’s stock worth $28,775,000 after purchasing an additional 1,290,658 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Portillo’s by 521.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,051,930 shares of the company’s stock worth $23,700,000 after purchasing an additional 882,738 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Portillo’s by 41.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,583,288 shares of the company’s stock worth $50,866,000 after purchasing an additional 752,280 shares in the last quarter. 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.