Portillo’s (NASDAQ:PTLO) Shares Gap Up – What’s Next?

Portillo’s Inc. (NASDAQ:PTLO)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $12.32, but opened at $12.79. Portillo’s shares last traded at $13.03, with a volume of 146,666 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTLO shares. Stifel Nicolaus lifted their price target on Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Stephens boosted their target price on shares of Portillo’s from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. UBS Group decreased their price target on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley dropped their price objective on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Portillo’s has an average rating of “Moderate Buy” and an average target price of $14.29.

Portillo’s Trading Up 6.7 %

The stock’s fifty day simple moving average is $13.23 and its 200 day simple moving average is $12.21. The firm has a market capitalization of $980.28 million, a PE ratio of 31.15, a PEG ratio of 14.77 and a beta of 1.80. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58.

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

Institutional Trading of Portillo’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in shares of Portillo’s by 23.9% in the third quarter. Victory Capital Management Inc. now owns 78,766 shares of the company’s stock worth $1,061,000 after buying an additional 15,175 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Portillo’s in the 3rd quarter worth $181,000. Charles Schwab Investment Management Inc. grew its stake in shares of Portillo’s by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,417 shares of the company’s stock worth $6,175,000 after buying an additional 26,588 shares in the last quarter. Soros Capital Management LLC increased its holdings in shares of Portillo’s by 51.9% in the 3rd quarter. Soros Capital Management LLC now owns 49,020 shares of the company’s stock worth $660,000 after buying an additional 16,758 shares during the last quarter. Finally, Engaged Capital LLC raised 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 buying an additional 3,354,513 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

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.