Portillo's (NASDAQ:PTLO) Shares Down 3.9% Following Analyst Downgrade

Portillo's Inc. (NASDAQ:PTLO - Get Free Report)'s share price dropped 3.9% 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 were traded 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 analysts have also issued research reports about the company. Baird R W lowered Portillo's from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Morgan Stanley set a $12.00 target price on Portillo's in a report on Monday, April 14th. William Blair reaffirmed an "outperform" rating on shares of Portillo's in a report on Friday, May 30th. Robert W. Baird reaffirmed a "neutral" rating and set a $12.00 target price (down from $15.00) on shares of Portillo's in a report on Monday, April 7th. Finally, Stephens reaffirmed an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Portillo's has an average rating of "Moderate Buy" and a consensus price target of $14.13.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. CWM LLC increased its position in Portillo's by 58.3% in the 1st quarter. CWM LLC now owns 3,194 shares of the company's stock worth $38,000 after purchasing an additional 1,176 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Portillo's by 137.6% during the 1st quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock valued at $42,000 after acquiring an additional 2,037 shares during the last quarter. Comerica Bank increased its holdings in shares of Portillo's by 172.6% during the 4th quarter. Comerica Bank now owns 5,395 shares of the company's stock valued at $51,000 after acquiring an additional 3,416 shares during the last quarter. Fund 1 Investments LLC acquired a new position in shares of Portillo's during the 4th quarter valued at about $53,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Portillo's during the 4th quarter valued at about $62,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Portillo's Stock Performance

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 firm has a market cap of $858.19 million, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 8.88 and a beta of 1.83. The stock has a fifty day moving average price of $11.76 and a 200 day moving average price of $12.07.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $176.44 million during 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 for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 EPS. As a group, analysts predict that Portillo's Inc. will post 0.35 earnings per share for the current year.

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.