Portillo’s (NASDAQ:PTLO) Trading 10.1% Higher – Here’s Why

Portillo’s Inc. (NASDAQ:PTLO) traded up 10.1% during trading on Friday . The stock traded as high as $5.04 and last traded at $5.01. 4,792,524 shares changed hands during mid-day trading, an increase of 118% from the average session volume of 2,195,552 shares. The stock had previously closed at $4.55.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PTLO. Robert W. Baird cut their price target on Portillo’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Stephens cut their target price on shares of Portillo’s from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Bank of America reiterated a “neutral” rating and set a $7.00 price target (down previously from $14.00) on shares of Portillo’s in a research report on Monday, October 6th. Jefferies Financial Group reissued a “hold” rating and set a $6.00 price target (down from $10.00) on shares of Portillo’s in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portillo’s in a research note on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.50.

Portillo’s Trading Up 10.1%

The company has a market capitalization of $377.65 million, a P/E ratio of 13.92, a PEG ratio of 5.55 and a beta of 1.74. The business has a 50 day moving average price of $4.80 and a 200 day moving average price of $6.90. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.49.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Portillo’s had a return on equity of 4.99% and a net margin of 3.35%.The firm had revenue of $181.43 million for the quarter, compared to the consensus estimate of $179.77 million. Analysts anticipate that Portillo’s Inc. will post 0.35 EPS for the current year.

Institutional Trading of Portillo’s

Several hedge funds have recently added to or reduced their stakes in PTLO. Alliancebernstein L.P. grew its position in shares of Portillo’s by 16.8% in the 2nd quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company’s stock valued at $67,428,000 after purchasing an additional 830,460 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Portillo’s in the second quarter valued at approximately $6,537,000. Bridgeway Capital Management LLC acquired a new position in shares of Portillo’s in the third quarter valued at approximately $2,609,000. Pier Capital LLC increased its position in shares of Portillo’s by 153.1% during the second quarter. Pier Capital LLC now owns 662,330 shares of the company’s stock worth $7,729,000 after acquiring an additional 400,644 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Portillo’s during the second quarter worth $4,668,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Portillo’s

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.