Portillo's (NASDAQ:PTLO) Stock Price Down 5.6% - What's Next?

Portillo's Inc. (NASDAQ:PTLO - Get Free Report)'s stock price fell 5.6% on Thursday . The stock traded as low as $11.44 and last traded at $11.39. 812,380 shares traded hands during trading, a decline of 44% from the average session volume of 1,446,932 shares. The stock had previously closed at $12.06.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Baird R W cut shares of Portillo's from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. William Blair reiterated an "outperform" rating on shares of Portillo's in a research report on Friday, May 30th. Stephens restated an "equal weight" rating and issued a $13.00 price target on shares of Portillo's in a research report on Wednesday, May 7th. UBS Group decreased their price objective on Portillo's from $15.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Piper Sandler dropped their price objective on Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.71.

Portillo's Stock Up 3.1%

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's fifty day moving average price is $11.49 and its 200-day moving average price is $11.82. The company has a market cap of $867.11 million, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 14.77 and a beta of 1.87.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company 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 5.62% and a net margin of 3.65%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. Sell-side analysts predict that Portillo's Inc. will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In other Portillo's news, Director Berkshire Partners Llc sold 10,000,000 shares of Portillo's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $12.23, for a total value of $122,300,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Portillo's

Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in Portillo's by 2.2% in the 1st quarter. Rhumbline Advisers now owns 82,605 shares of the company's stock valued at $982,000 after acquiring an additional 1,744 shares in the last quarter. Woodline Partners LP raised its stake in shares of Portillo's by 98.2% in the 1st quarter. Woodline Partners LP now owns 752,473 shares of the company's stock valued at $8,947,000 after purchasing an additional 372,801 shares during the period. Fred Alger Management LLC bought a new stake in shares of Portillo's in the first quarter valued at about $17,489,000. Select Equity Group L.P. boosted its position in shares of Portillo's by 675.1% during the first quarter. Select Equity Group L.P. now owns 1,070,774 shares of the company's stock worth $12,732,000 after buying an additional 932,624 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Portillo's by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,550 shares of the company's stock worth $387,000 after buying an additional 1,808 shares during the period. Institutional investors own 98.34% of the company's stock.

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.