Portillo’s (NASDAQ:PTLO) Stock Price Down 5.6% – What’s Next?

Portillo’s Inc. (NASDAQ:PTLO) shares traded down 5.6% during trading on Thursday . The stock traded as low as $11.44 and last traded at $11.39. 812,380 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 1,446,932 shares. The stock had previously closed at $12.06.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Baird R W downgraded Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Stifel Nicolaus raised their target price on Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. UBS Group cut their price target on Portillo’s from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Piper Sandler cut their price target on Portillo’s from $17.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $12.00 price target (down previously from $15.00) on shares of Portillo’s in a research note on Monday, April 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.71.

Portillo’s Price Performance

The business has a 50 day moving average price of $11.49 and a two-hundred day moving average price of $11.82. The stock has a market cap of $867.11 million, a PE ratio of 27.60, a P/E/G ratio of 14.77 and a beta of 1.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38.

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

Insider Transactions at Portillo’s

In related news, Director Berkshire Partners Llc sold 10,000,000 shares of Portillo’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $12.23, for a total value of $122,300,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On Portillo’s

A number of hedge funds have recently modified their holdings of PTLO. Alliancebernstein L.P. raised its holdings in Portillo’s by 10,963.2% during the 1st quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company’s stock valued at $58,825,000 after acquiring an additional 4,902,741 shares during the period. Fred Alger Management LLC bought a new stake in Portillo’s during the 1st quarter valued at $17,489,000. Ameriprise Financial Inc. raised its holdings in Portillo’s by 53.6% during the 1st 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 period. Select Equity Group L.P. raised its holdings in Portillo’s by 675.1% during the 1st 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 during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Portillo’s by 139.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,102,103 shares of the company’s stock valued at $10,360,000 after acquiring an additional 641,273 shares during the period. 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.