Portillo’s (NASDAQ:PTLO) Shares Gap Down – What’s Next?

Portillo’s Inc. (NASDAQ:PTLO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $12.94, but opened at $11.96. Portillo’s shares last traded at $12.04, with a volume of 604,363 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PTLO shares. Baird R W lowered shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Morgan Stanley set a $12.00 price target on Portillo’s in a research report on Monday, April 14th. Stephens reissued an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a report on Wednesday, May 7th. UBS Group dropped their target price on Portillo’s from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus boosted their price target on Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Portillo’s currently has a consensus rating of “Hold” and a consensus price target of $13.71.

Portillo’s Stock Down 6.1%

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 has a 50-day simple moving average of $11.66 and a 200-day simple moving average of $11.85. The company has a market cap of $906.05 million, a PE ratio of 28.94, a P/E/G ratio of 14.77 and a beta of 1.83.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $176.44 million for the quarter, compared to analysts’ expectations of $180.76 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. Equities research analysts anticipate that Portillo’s Inc. will post 0.35 EPS for the current year.

Institutional Trading of Portillo’s

Several institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in shares of Portillo’s by 10,963.2% during the 1st quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company’s stock worth $58,825,000 after purchasing an additional 4,902,741 shares during the last quarter. Fred Alger Management LLC purchased a new stake in Portillo’s during the 1st quarter worth approximately $17,489,000. Ameriprise Financial Inc. raised its holdings in shares of Portillo’s by 53.6% during the first quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company’s stock valued at $40,590,000 after acquiring an additional 1,191,443 shares during the last quarter. Select Equity Group L.P. lifted its position in shares of Portillo’s by 675.1% in the first quarter. Select Equity Group L.P. now owns 1,070,774 shares of the company’s stock valued at $12,732,000 after acquiring an additional 932,624 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of Portillo’s by 80.5% in the fourth quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company’s stock valued at $15,537,000 after acquiring an additional 737,049 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.