Portillo’s (NASDAQ:PTLO) Announces Quarterly Earnings Results

Portillo’s (NASDAQ:PTLO) released its quarterly earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03, FiscalAI reports. The firm had revenue of $185.75 million during the quarter, compared to the consensus estimate of $185.50 million. Portillo’s had a return on equity of 4.99% and a net margin of 3.35%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 EPS.

Portillo’s Stock Performance

Shares of NASDAQ PTLO opened at $5.79 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $436.45 million, a P/E ratio of 16.08, a P/E/G ratio of 7.44 and a beta of 1.75. Portillo’s has a 12 month low of $4.41 and a 12 month high of $15.30. The stock has a 50 day moving average of $5.30 and a 200-day moving average of $5.73.

Analyst Ratings Changes

PTLO has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Portillo’s in a research report on Monday, December 22nd. Piper Sandler lifted their price target on shares of Portillo’s from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Morgan Stanley set a $7.00 price objective on shares of Portillo’s in a research note on Tuesday, January 20th. Stephens decreased their price objective on Portillo’s from $8.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $6.00 target price (down previously from $8.00) on shares of Portillo’s in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.72.

Hedge Funds Weigh In On Portillo’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. Virtu Financial LLC acquired a new position in shares of Portillo’s in the fourth quarter valued at $192,000. Invesco Ltd. boosted its holdings in shares of Portillo’s by 53.2% during the 4th quarter. Invesco Ltd. now owns 224,209 shares of the company’s stock worth $1,018,000 after buying an additional 77,852 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Portillo’s in the 4th quarter valued at about $74,000. Empowered Funds LLC grew its stake in Portillo’s by 11.2% in the 4th quarter. Empowered Funds LLC now owns 227,494 shares of the company’s stock valued at $1,033,000 after buying an additional 22,964 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Portillo’s in the 4th quarter valued at about $666,000. 98.34% of the stock is owned by institutional investors.

Portillo’s Company Profile

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.