Portillo’s (NASDAQ:PTLO) Shares Down 7.5% – Here’s Why

Shares of Portillo’s Inc. (NASDAQ:PTLO) dropped 7.5% during trading on Monday . The stock traded as low as $10.69 and last traded at $10.66. Approximately 355,335 shares changed hands during trading, a decline of 74% from the average daily volume of 1,348,983 shares. The stock had previously closed at $11.53.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PTLO shares. Baird R W lowered Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Robert W. Baird reaffirmed a “neutral” rating and set a $12.00 price target (down from $15.00) on shares of Portillo’s in a research report on Monday, April 7th. Stephens boosted their price target on Portillo’s from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. UBS Group dropped their price objective on Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Stifel Nicolaus increased their target price on Portillo’s from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Portillo’s presently has a consensus rating of “Hold” and a consensus target price of $13.71.

Portillo’s Trading Down 8.3 %

The business’s 50 day moving average price is $12.90 and its two-hundred day moving average price is $12.06. The company has a market capitalization of $788.55 million, a price-to-earnings ratio of 25.17, a P/E/G ratio of 14.77 and a beta of 1.82. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.02 by $0.15. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The firm had revenue of $184.61 million during the quarter, compared to the consensus estimate of $185.16 million. During the same period last year, the company earned $0.13 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts predict that Portillo’s Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portillo’s

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Portillo’s by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,742 shares of the company’s stock worth $289,000 after purchasing an additional 1,185 shares during the period. Rhumbline Advisers grew its stake in Portillo’s by 2.2% during the first quarter. Rhumbline Advisers now owns 82,605 shares of the company’s stock worth $982,000 after purchasing an additional 1,744 shares during the period. Hollencrest Capital Management grew its position in shares of Portillo’s by 100.0% during the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $38,000 after buying an additional 2,000 shares during the period. North Star Investment Management Corp. increased 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 valued at $42,000 after purchasing an additional 2,037 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its holdings in shares of Portillo’s by 5.0% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 43,032 shares of the company’s stock valued at $405,000 after acquiring an additional 2,038 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.