Portillo’s (NASDAQ:PTLO) Shares Gap Down – Time to Sell?

Portillo’s Inc. (NASDAQ:PTLO) gapped down prior to trading 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.

Analyst Upgrades and Downgrades

PTLO has been the topic of a number of analyst reports. Robert W. Baird restated a “neutral” rating and set a $12.00 target price (down previously from $15.00) on shares of Portillo’s in a research note on Monday, April 7th. Stifel Nicolaus raised 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. Piper Sandler dropped their price objective 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. Morgan Stanley set a $12.00 target price on Portillo’s in a research note on Monday, April 14th. Finally, Stephens reissued an “equal weight” rating and issued a $13.00 price target on shares of Portillo’s in a report on Wednesday, May 7th. Five investment 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, the company has a consensus rating of “Hold” and an average target price of $13.71.

Portillo’s Stock Down 6.1%

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 firm has a market capitalization of $906.05 million, a PE ratio of 28.94, a PEG ratio of 14.77 and a beta of 1.83. The company has a fifty day moving average price of $11.66 and a 200-day moving average price of $11.85.

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

Hedge Funds Weigh In On Portillo’s

A number of large investors have recently made changes to their positions in the company. CWM LLC increased its stake in Portillo’s by 58.3% in the first quarter. CWM LLC now owns 3,194 shares of the company’s stock worth $38,000 after purchasing an additional 1,176 shares during the period. North Star Investment Management Corp. lifted its stake in Portillo’s by 137.6% in the first quarter. North Star Investment Management Corp. now owns 3,517 shares of the company’s stock worth $42,000 after acquiring an additional 2,037 shares during the period. Hollencrest Capital Management boosted its stake in shares of Portillo’s by 100.0% during the fourth 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 in the last quarter. Comerica Bank boosted its position in Portillo’s by 172.6% during the 4th quarter. Comerica Bank now owns 5,395 shares of the company’s stock valued at $51,000 after acquiring an additional 3,416 shares in the last quarter. Finally, Fund 1 Investments LLC purchased a new position in shares of Portillo’s in the 4th quarter valued at $53,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.