Portillo’s (NASDAQ:PTLO) Shares Up 5.9% – Time to Buy?

Portillo’s Inc. (NASDAQ:PTLO) shares traded up 5.9% on Friday . The stock traded as high as $9.77 and last traded at $9.74. 473,246 shares changed hands during trading, a decline of 62% from the average session volume of 1,261,511 shares. The stock had previously closed at $9.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PTLO shares. Stephens reissued an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a research report on Wednesday, November 6th. UBS Group lowered 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. Finally, Stifel Nicolaus cut shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price for the company. in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Portillo’s currently has an average rating of “Hold” and an average price target of $13.57.

Portillo’s Stock Performance

The company has a market cap of $731.83 million, a PE ratio of 23.48, a P/E/G ratio of 10.96 and a beta of 1.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. The stock’s 50-day simple moving average is $10.55 and its 200 day simple moving average is $11.14.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. As a group, equities analysts anticipate that Portillo’s Inc. will post 0.3 EPS for the current year.

Hedge Funds Weigh In On Portillo’s

A number of large investors have recently made changes to their positions in PTLO. Point72 DIFC Ltd acquired a new stake in shares of Portillo’s during the 2nd quarter worth about $29,000. NBC Securities Inc. boosted its stake in shares of Portillo’s by 43.5% during the 3rd quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Portillo’s during the 4th quarter worth about $47,000. AdvisorShares Investments LLC acquired a new stake in shares of Portillo’s during the 2nd quarter worth about $52,000. Finally, nVerses Capital LLC purchased a new stake in Portillo’s in the third quarter valued at approximately $69,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.