Portillo's (NASDAQ:PTLO) Shares Gap Up - Here's What Happened

Portillo's Inc. (NASDAQ:PTLO - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $12.49, but opened at $12.95. Portillo's shares last traded at $13.35, with a volume of 1,048,749 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PTLO shares. UBS Group decreased their target price 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. Stifel Nicolaus upgraded Portillo's from a "hold" rating to a "buy" rating and raised their price objective for the company from $13.00 to $16.00 in a report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a research note on Wednesday, November 6th. Finally, Morgan Stanley reduced their target price on shares of Portillo's from $15.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $14.00.

Portillo's Stock Performance

The firm has a fifty day moving average price of $10.63 and a 200 day moving average price of $11.46. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.03 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 14.32 and a beta of 1.72.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. The company had revenue of $178.25 million for the quarter, compared to the consensus estimate of $182.07 million. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. Portillo's's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. As a group, equities research analysts expect that Portillo's Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PTLO. Point72 DIFC Ltd purchased a new stake in Portillo's in the second quarter valued at $29,000. NBC Securities Inc. raised its holdings in Portillo's by 43.5% in the 3rd 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 period. Ridgewood Investments LLC acquired a new position in Portillo's in the fourth quarter valued at about $47,000. nVerses Capital LLC purchased a new position in Portillo's during the third quarter worth about $69,000. Finally, Savant Capital LLC acquired a new stake in shares of Portillo's during the fourth quarter valued at about $96,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.