Portillo’s Inc. (NASDAQ:PTLO – Get Free Report) 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.
Read Our Latest Research Report on Portillo’s
Portillo’s Price Performance
Portillo’s (NASDAQ:PTLO – Get Free Report) 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.
Further Reading
- Five stocks we like better than Portillo’s
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
- What Are Growth Stocks and Investing in Them
- Abbott Laboratories Outlook is Healthy: Buy the Dip
- The Most Important Warren Buffett Stock for Investors: His Own
- ASML Fires Warning Shot For Tech Investors
Receive News & Ratings for Portillo's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portillo's and related companies with MarketBeat.com's FREE daily email newsletter.