Portillo’s (NASDAQ:PTLO) Stock Price Up 6.3%

Portillo’s Inc. (NASDAQ:PTLO)’s share price rose 6.3% during trading on Tuesday . The company traded as high as $13.52 and last traded at $13.51. Approximately 832,104 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 1,075,800 shares. The stock had previously closed at $12.71.

Analysts Set New Price Targets

PTLO has been the subject of a number of recent research reports. Stephens reiterated an “overweight” rating and issued a $13.00 target price on shares of Portillo’s in a report on Tuesday, August 6th. Stifel Nicolaus dropped their target price on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, July 12th. Bank of America dropped their price objective on Portillo’s from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Piper Sandler dropped their price objective on Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, Morgan Stanley dropped their price objective on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Portillo’s has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Portillo’s Trading Up 2.0 %

The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $11.18 and a two-hundred day simple moving average of $11.36. The firm has a market capitalization of $988.01 million, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 15.63 and a beta of 1.77.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $181.86 million for the quarter, compared to the consensus estimate of $184.44 million. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. On average, equities research analysts anticipate that Portillo’s Inc. will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Portillo’s

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of Portillo’s in the 2nd quarter worth $29,000. Select Equity Group L.P. raised its position in shares of Portillo’s by 2.6% in the 2nd quarter. Select Equity Group L.P. now owns 112,424 shares of the company’s stock worth $1,093,000 after acquiring an additional 2,897 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Portillo’s by 21.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,902 shares of the company’s stock worth $203,000 after acquiring an additional 3,661 shares in the last quarter. Millennium Management LLC raised its position in shares of Portillo’s by 499.4% in the 2nd quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock worth $3,812,000 after acquiring an additional 326,743 shares in the last quarter. Finally, Engaged Capital LLC raised its position in shares of Portillo’s by 38.7% in the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock worth $26,832,000 after acquiring an additional 770,443 shares in the last quarter. 98.34% of the stock is owned by 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.