Portillo's (NASDAQ:PTLO) Trading Down 6% - Here's Why

Portillo's Inc. (NASDAQ:PTLO - Get Free Report)'s stock price fell 6% on Wednesday . The stock traded as low as $13.97 and last traded at $14.01. 296,841 shares traded hands during trading, a decline of 84% from the average session volume of 1,890,654 shares. The stock had previously closed at $14.90.

Wall Street Analyst Weigh In

Several research firms have weighed in on PTLO. UBS Group dropped their target price on shares of Portillo's from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus raised their target price on shares of Portillo's from $16.00 to $17.00 and gave the company a "buy" rating in a report on Friday. Stephens raised 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. Finally, Morgan Stanley dropped 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 report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $14.29.

Portillo's Price Performance

The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 14.77 and a beta of 1.82. The company's 50 day simple moving average is $12.36 and its 200-day simple moving average is $12.11. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58.

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Portillo's (NASDAQ:PTLO - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.15. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The business had revenue of $184.61 million for the quarter, compared to analysts' expectations of $185.16 million. During the same period last year, the company earned $0.13 earnings per share. The company's quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Portillo's Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portillo's

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Portillo's by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,742 shares of the company's stock worth $289,000 after acquiring an additional 1,185 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of Portillo's by 100.0% in the fourth quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $38,000 after acquiring an additional 2,000 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Portillo's by 5.0% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 43,032 shares of the company's stock valued at $405,000 after buying an additional 2,038 shares during the period. Lakewood Asset Management LLC raised its holdings in Portillo's by 2.2% in the fourth quarter. Lakewood Asset Management LLC now owns 104,638 shares of the company's stock valued at $984,000 after buying an additional 2,251 shares during the period. Finally, Stoneridge Investment Partners LLC raised its holdings in Portillo's by 23.5% in the fourth quarter. Stoneridge Investment Partners LLC now owns 12,605 shares of the company's stock valued at $118,000 after buying an additional 2,396 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

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.