Portillo’s (NASDAQ:PTLO) Stock Price Up 10.1% – Still a Buy?

Portillo’s Inc. (NASDAQ:PTLO)’s stock price rose 10.1% during mid-day trading on Friday . The stock traded as high as $5.04 and last traded at $5.01. Approximately 4,792,524 shares traded hands during mid-day trading, an increase of 118% from the average daily volume of 2,195,552 shares. The stock had previously closed at $4.55.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Portillo’s in a research note on Monday, December 22nd. Robert W. Baird decreased their price target on Portillo’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Morgan Stanley set a $9.00 price target on Portillo’s in a research report on Tuesday, October 21st. Stephens dropped their price objective on Portillo’s from $8.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $6.00 target price (down previously from $10.00) on shares of Portillo’s in a research note on Monday, October 13th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.50.

Portillo’s Price Performance

The stock has a fifty day moving average of $4.80 and a two-hundred day moving average of $6.90. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $377.65 million, a price-to-earnings ratio of 13.92, a PEG ratio of 5.55 and a beta of 1.74.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Portillo’s had a return on equity of 4.99% and a net margin of 3.35%.The business had revenue of $181.43 million during the quarter, compared to analyst estimates of $179.77 million. As a group, equities research analysts forecast that Portillo’s Inc. will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On Portillo’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTLO. Orbis Allan Gray Ltd raised its stake in shares of Portillo’s by 6.4% in the second quarter. Orbis Allan Gray Ltd now owns 6,358,093 shares of the company’s stock worth $74,199,000 after acquiring an additional 384,455 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Portillo’s by 16.8% in the second quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company’s stock valued at $67,428,000 after purchasing an additional 830,460 shares in the last quarter. Ameriprise Financial Inc. raised its position in Portillo’s by 4.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,563,600 shares of the company’s stock worth $41,587,000 after purchasing an additional 149,931 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Portillo’s by 11.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,131,834 shares of the company’s stock worth $13,750,000 after purchasing an additional 221,298 shares during the last quarter. Finally, Zuckerman Investment Group LLC lifted its holdings in Portillo’s by 1.6% during the 2nd quarter. Zuckerman Investment Group LLC now owns 1,873,724 shares of the company’s stock worth $21,866,000 after buying an additional 30,031 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Portillo’s

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.