Portillo’s (NASDAQ:PTLO) Reaches New 1-Year Low – Here’s What Happened

Portillo’s Inc. (NASDAQ:PTLO) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.38 and last traded at $8.80, with a volume of 1824821 shares changing hands. The stock had previously closed at $8.66.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PTLO. Stifel Nicolaus downgraded shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a report on Wednesday, November 6th. UBS Group lifted their price target on shares of Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Stephens reissued an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a report on Wednesday, November 6th. Four research 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, the stock has an average rating of “Hold” and a consensus price target of $14.00.

Portillo’s Stock Performance

The firm has a market capitalization of $670.97 million, a PE ratio of 21.52, a P/E/G ratio of 10.96 and a beta of 1.68. The business has a 50-day simple moving average of $11.37 and a 200-day simple moving average of $11.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31.

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

Hedge Funds Weigh In On Portillo’s

A number of large investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its position in Portillo’s by 2.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 32,207 shares of the company’s stock worth $434,000 after purchasing an additional 781 shares during the period. NBC Securities Inc. grew its stake in shares of Portillo’s by 43.5% during the third quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares during the last quarter. Select Equity Group L.P. raised its holdings in shares of Portillo’s by 2.6% in the second quarter. Select Equity Group L.P. now owns 112,424 shares of the company’s stock worth $1,093,000 after buying an additional 2,897 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Portillo’s during the 2nd quarter worth approximately $29,000. Finally, Arizona State Retirement System boosted its holdings in Portillo’s by 24.9% during the 2nd quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock valued at $159,000 after acquiring an additional 3,261 shares during the period. 98.34% of the stock is owned by hedge funds and other 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.