Del Taco Restaurants (NASDAQ:TACO) Shares Gap Down to $12.13

Del Taco Restaurants Inc (NASDAQ:TACO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $13.01, but opened at $12.13. Del Taco Restaurants shares last traded at $12.27, with a volume of 28,126 shares trading hands.

A number of research firms recently weighed in on TACO. Maxim Group reiterated a “buy” rating on shares of Del Taco Restaurants in a research report on Wednesday. BidaskClub lowered Del Taco Restaurants from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Zacks Investment Research upgraded Del Taco Restaurants from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, ValuEngine upgraded Del Taco Restaurants from a “hold” rating to a “buy” rating in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $14.17.

The company has a current ratio of 0.28, a quick ratio of 0.24 and a debt-to-equity ratio of 0.88. The company has a market cap of $456.38 million, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 1.58 and a beta of 0.25. The firm’s 50-day simple moving average is $12.37.

Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings results on Monday, July 29th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.13. Del Taco Restaurants had a return on equity of 4.75% and a net margin of 3.38%. The business had revenue of $121.50 million during the quarter, compared to analyst estimates of $120.37 million. During the same quarter last year, the company posted $0.14 EPS. Del Taco Restaurants’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts predict that Del Taco Restaurants Inc will post 0.5 earnings per share for the current fiscal year.

In related news, SVP David Pear sold 13,500 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $11.85, for a total value of $159,975.00. Following the completion of the transaction, the senior vice president now owns 118,210 shares in the company, valued at approximately $1,400,788.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in TACO. Quantamental Technologies LLC acquired a new stake in Del Taco Restaurants during the 1st quarter worth about $42,000. Legal & General Group Plc lifted its holdings in shares of Del Taco Restaurants by 24.1% during the 4th quarter. Legal & General Group Plc now owns 5,896 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 1,145 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Del Taco Restaurants during the 2nd quarter valued at about $61,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Del Taco Restaurants by 412.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,380 shares of the restaurant operator’s stock valued at $64,000 after buying an additional 5,136 shares during the last quarter. Finally, Alta Capital Management LLC acquired a new stake in shares of Del Taco Restaurants during the 1st quarter valued at about $109,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.

About Del Taco Restaurants (NASDAQ:TACO)

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of December 10, 2018, it operated approximately 560 restaurants across 14 states.

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