Portillo's (NASDAQ:PTLO) Stock Price Down 3.9% After Analyst Downgrade

Portillo's Inc. (NASDAQ:PTLO - Get Free Report) shares were down 3.9% during trading on Wednesday after Guggenheim lowered their price target on the stock from $18.00 to $17.00. Guggenheim currently has a buy rating on the stock. Portillo's traded as low as $11.41 and last traded at $11.48. Approximately 1,495,780 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 1,498,867 shares. The stock had previously closed at $11.95.

Other equities analysts have also recently issued reports about the company. Baird R W cut Portillo's from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Stephens restated an "equal weight" rating and issued a $13.00 target price on shares of Portillo's in a report on Wednesday, May 7th. Piper Sandler decreased their target price on Portillo's from $17.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. UBS Group decreased their target price on Portillo's from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Morgan Stanley set a $12.00 target price on Portillo's in a report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $14.13.

Insider Buying and Selling at Portillo's

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $12.23, for a total value of $122,300,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 6.14% of the company's stock.

Institutional Investors Weigh In On Portillo's

A number of large investors have recently bought and sold shares of the business. Hollencrest Capital Management boosted its position in Portillo's by 100.0% in the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $38,000 after buying an additional 2,000 shares during the last quarter. CWM LLC boosted its position in Portillo's by 58.3% in the 1st quarter. CWM LLC now owns 3,194 shares of the company's stock valued at $38,000 after buying an additional 1,176 shares during the last quarter. North Star Investment Management Corp. boosted its position in Portillo's by 137.6% in the 1st quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock valued at $42,000 after buying an additional 2,037 shares during the last quarter. Comerica Bank lifted its stake in shares of Portillo's by 172.6% in the 4th quarter. Comerica Bank now owns 5,395 shares of the company's stock valued at $51,000 after purchasing an additional 3,416 shares during the period. Finally, Fund 1 Investments LLC acquired a new position in shares of Portillo's in the 4th quarter valued at $53,000. 98.34% of the stock is currently owned by institutional investors.

Portillo's Stock Performance

The stock has a 50 day moving average price of $11.70 and a two-hundred day moving average price of $12.04. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49. The company has a market cap of $858.19 million, a price-to-earnings ratio of 26.70, a P/E/G ratio of 9.15 and a beta of 1.83.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $176.44 million for the quarter, compared to the consensus estimate of $180.76 million. Portillo's had a return on equity of 5.87% and a net margin of 3.92%. The firm's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. Analysts predict that Portillo's Inc. will post 0.35 EPS for the current year.

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.

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