Portillo’s (NASDAQ:PTLO) Hits New 52-Week Low – Here’s Why

Portillo’s Inc. (NASDAQ:PTLO) shares reached a new 52-week low on Tuesday . The stock 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

PTLO has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a research report on Wednesday, November 6th. UBS Group raised their price target on Portillo’s from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus lowered Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.00.

Portillo’s Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. The stock has a market cap of $670.97 million, a P/E ratio of 21.52, a P/E/G ratio of 10.96 and a beta of 1.68. The business’s 50-day moving average price is $11.37 and its 200-day moving average price is $11.22.

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

Institutional Investors Weigh In On Portillo’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Engaged Capital LLC boosted its position in shares of Portillo’s by 121.5% in the third quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock worth $82,368,000 after purchasing an additional 3,354,513 shares during the period. Hodges Capital Management Inc. bought a new position in Portillo’s in the 3rd quarter worth $12,337,000. Squarepoint Ops LLC increased its stake in Portillo’s by 307.9% in the 2nd quarter. Squarepoint Ops LLC now owns 522,580 shares of the company’s stock worth $5,079,000 after buying an additional 394,479 shares in the last quarter. Millennium Management LLC raised its holdings in Portillo’s by 499.4% during the second quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock valued at $3,812,000 after acquiring an additional 326,743 shares during the period. Finally, Emerald Advisers LLC lifted its position in shares of Portillo’s by 29.4% in the third quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock valued at $17,137,000 after acquiring an additional 288,675 shares in the last quarter. Institutional investors 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.