Zacks Investment Research downgraded shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) from a buy rating to a hold rating in a research report report published on Saturday.
According to Zacks, “Del Taco is the second largest Mexican-American QSR chain by units in the United States, serving more than three million guests each week. At Del Taco, menu items are made to order with fresh ingredients, including Cheddar cheese grated from 40-pound blocks, handmade pico de gallo salsa, lard-free beans slow-cooked from scratch, and marinated chicken grilled in the restaurant. The menu includes classic Mexican dishes such as tacos, burritos, quesadillas and nachos as well as American favorites including hamburgers, crinkle-cut fries and shakes. The company was founded on June 30, 2015 and is headquartered in Lake Forest, CA. “
Several other equities analysts also recently weighed in on TACO. Wedbush reaffirmed an outperform rating and set a $17.00 price target on shares of Del Taco Restaurants in a report on Tuesday, March 14th. Piper Jaffray Companies reduced their price objective on shares of Del Taco Restaurants from $14.00 to $13.00 and set an in-line rating on the stock in a research report on Tuesday, March 14th. Finally, Jefferies Group LLC reduced their price objective on shares of Del Taco Restaurants from $17.00 to $16.00 and set a buy rating on the stock in a research report on Tuesday, March 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $15.00.
Shares of Del Taco Restaurants (TACO) opened at 13.61 on Friday. The company has a market cap of $524.23 million, a price-to-earnings ratio of 24.84 and a beta of -0.18. The company’s 50-day moving average is $13.21 and its 200-day moving average is $13.49. Del Taco Restaurants has a 12-month low of $8.43 and a 12-month high of $15.32.
Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings results on Thursday, May 4th. The restaurant operator reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Del Taco Restaurants had a net margin of 4.80% and a return on equity of 5.81%. The business had revenue of $105.35 million for the quarter, compared to the consensus estimate of $105.22 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that Del Taco Restaurants will post $0.55 earnings per share for the current year.
In related news, Director Eileen A. Aptman acquired 26,010 shares of Del Taco Restaurants stock in a transaction dated Tuesday, May 9th. The shares were purchased at an average price of $12.97 per share, for a total transaction of $337,349.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Ellington Management Group LLC bought a new stake in Del Taco Restaurants during the fourth quarter valued at about $193,000. American International Group Inc. boosted its stake in Del Taco Restaurants by 7.0% in the first quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock valued at $189,000 after buying an additional 927 shares during the last quarter. Cadence Capital Management LLC bought a new stake in Del Taco Restaurants during the fourth quarter valued at about $243,000. Bayesian Capital Management LP bought a new stake in Del Taco Restaurants during the fourth quarter valued at about $251,000. Finally, Boothbay Fund Management LLC boosted its stake in Del Taco Restaurants by 80.0% in the fourth quarter. Boothbay Fund Management LLC now owns 18,000 shares of the restaurant operator’s stock valued at $254,000 after buying an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 71.33% of the company’s stock.
Del Taco Restaurants Company Profile
Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.
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