Portillo's (NASDAQ:PTLO) Sees Unusually-High Trading Volume - Here's Why

Portillo's Inc. (NASDAQ:PTLO - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 1,278,526 shares traded hands during trading, a decline of 18% from the previous session's volume of 1,559,100 shares.The stock last traded at $11.76 and had previously closed at $10.15.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTLO. UBS Group dropped their price target on shares of Portillo's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Stephens reiterated an "equal weight" rating and set a $13.00 price target on shares of Portillo's in a report on Wednesday, November 6th. Finally, Stifel Nicolaus downgraded Portillo's from a "buy" rating to a "hold" rating and set a $13.00 price objective on the stock. in a research note on Wednesday, November 6th. Four equities 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 presently has a consensus rating of "Hold" and an average price target of $13.57.

Portillo's Stock Up 14.6 %

The stock has a market cap of $863.20 million, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 10.96 and a beta of 1.72. The firm's fifty day moving average price is $10.40 and its two-hundred day moving average price is $11.16. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $182.07 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The company's quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Portillo's Inc. will post 0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo's

Several large investors have recently added to or reduced their stakes in PTLO. Wolff Wiese Magana LLC boosted its holdings in Portillo's by 2.5% during the third 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 last quarter. NBC Securities Inc. raised its stake in shares of Portillo's by 43.5% during the 3rd quarter. NBC Securities Inc. now owns 3,300 shares of the company's stock worth $44,000 after purchasing an additional 1,000 shares during the period. Lakewood Asset Management LLC boosted its holdings in shares of Portillo's by 2.2% in the 4th quarter. Lakewood Asset Management LLC now owns 104,638 shares of the company's stock worth $984,000 after buying an additional 2,251 shares during the last quarter. Select Equity Group L.P. grew its position in Portillo's by 2.6% during the second quarter. Select Equity Group L.P. now owns 112,424 shares of the company's stock valued at $1,093,000 after buying an additional 2,897 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Portillo's during the second quarter worth about $29,000. 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.