Portillo’s (NASDAQ:PTLO) Shares Gap Up – Here’s Why

Portillo’s Inc. (NASDAQ:PTLO) shares gapped up before the market opened 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 changing hands.

Analysts Set New Price Targets

PTLO has been the topic of several analyst reports. Stifel Nicolaus upped 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. Morgan Stanley decreased their price target on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. UBS Group decreased their price target on Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Stephens upped their price target on Portillo’s from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Portillo’s has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Portillo’s Stock Performance

The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average is $13.35 and its two-hundred day moving average is $12.22. The company has a market capitalization of $915.38 million, a P/E ratio of 29.21, a PEG ratio of 14.77 and a beta of 1.80.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.15. The company had revenue of $184.61 million for 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%. Portillo’s’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 business earned $0.13 earnings per share. Equities analysts anticipate that Portillo’s Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management grew its position in Portillo’s by 100.0% during the fourth quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $38,000 after acquiring an additional 2,000 shares during the last quarter. Ridgewood Investments LLC bought a new position in Portillo’s during the fourth quarter valued at approximately $47,000. Comerica Bank grew its position in Portillo’s by 172.6% during the fourth quarter. Comerica Bank now owns 5,395 shares of the company’s stock valued at $51,000 after acquiring an additional 3,416 shares during the last quarter. Fund 1 Investments LLC bought a new position in Portillo’s during the fourth quarter valued at approximately $53,000. Finally, BNP Paribas Financial Markets bought a new position in Portillo’s during the fourth quarter valued at approximately $62,000. 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.