Portillo’s (NASDAQ:PTLO) Shares Up 5.9% – Here’s What Happened

Shares of Portillo’s Inc. (NASDAQ:PTLO) rose 5.9% on Friday . The company traded as high as $9.77 and last traded at $9.74. Approximately 473,246 shares were traded during trading, a decline of 62% from the average daily volume of 1,261,511 shares. The stock had previously closed at $9.20.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stephens reiterated an “equal weight” rating and issued a $13.00 target price on shares of Portillo’s in a research report on Wednesday, November 6th. Stifel Nicolaus lowered shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a report on Wednesday, November 6th. Finally, UBS Group reduced their target price on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Portillo’s has an average rating of “Hold” and an average price target of $13.57.

Portillo’s Trading Up 7.9 %

The stock has a market cap of $737.02 million, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 10.96 and a beta of 1.72. 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’s fifty day simple moving average is $10.47 and its 200-day simple moving average is $11.15.

Portillo’s (NASDAQ:PTLO) last announced its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. Equities research analysts expect that Portillo’s Inc. will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

A number of institutional investors and hedge funds have recently modified their holdings of PTLO. Engaged Capital LLC lifted its position in shares of Portillo’s by 121.5% during the 3rd quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock valued at $82,368,000 after acquiring an additional 3,354,513 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Portillo’s by 10.9% during the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock valued at $24,086,000 after purchasing an additional 175,999 shares during the period. Franklin Resources Inc. boosted its position in shares of Portillo’s by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company’s stock worth $15,838,000 after purchasing an additional 32,810 shares in the last quarter. Emerald Advisers LLC grew its stake in shares of Portillo’s by 29.4% in the 3rd quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock valued at $17,137,000 after buying an additional 288,675 shares during the period. Finally, Geode Capital Management LLC increased its position in Portillo’s by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,270,142 shares of the company’s stock valued at $17,113,000 after buying an additional 49,181 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

About Portillo’s

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.