Del Taco Restaurants (NASDAQ:TACO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Maxim Group in a report issued on Monday, January 8th. They currently have a $20.00 price target on the restaurant operator’s stock. Maxim Group’s price target points to a potential upside of 46.41% from the company’s previous close.
The analysts wrote, “We maintain our Buy rating and $20 price target on Del Taco (TACO) following management’s presentation at the ICR Conference in Orlando earlier today. Management indicated it was comfortable with 4Q17 (December) guidance, which implies about a +3% comp for the quarter. Management anticipates mid-single-digit comp growth and unit growth for 2018, as well as a “significant” benefit from a lower corporate tax rate. We maintain our EPS estimates of $0.19 for 4Q17, $0.55 for 2017, and $0.75 for 2018, though raise our 2019 EPS estimate to $0.82 (from $0.81) to reflect our outlook for accelerated share buybacks post-tax reform.””
Other equities analysts also recently issued reports about the company. Wedbush reiterated a “buy” rating and set a $17.00 price objective on shares of Del Taco Restaurants in a research report on Wednesday, September 13th. Zacks Investment Research cut Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. BTIG Research reaffirmed a “buy” rating and issued a $19.00 price target on shares of Del Taco Restaurants in a report on Monday, September 25th. Jefferies Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Del Taco Restaurants in a report on Thursday, October 12th. Finally, TheStreet cut shares of Del Taco Restaurants from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $16.67.
Shares of Del Taco Restaurants (TACO) traded up $0.01 on Monday, hitting $13.66. The company had a trading volume of 224,800 shares, compared to its average volume of 430,192. The company has a quick ratio of 0.24, a current ratio of 0.29 and a debt-to-equity ratio of 0.42. Del Taco Restaurants has a twelve month low of $11.58 and a twelve month high of $15.99. The stock has a market cap of $527.94, a price-to-earnings ratio of 24.39, a P/E/G ratio of 1.44 and a beta of -0.29.
Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings data on Thursday, October 19th. The restaurant operator reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Del Taco Restaurants had a return on equity of 5.89% and a net margin of 4.78%. The company had revenue of $110.99 million for the quarter, compared to analyst estimates of $110.46 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. equities research analysts forecast that Del Taco Restaurants will post 0.54 EPS for the current year.
In other Del Taco Restaurants news, Director Lawrence F. Levy purchased 200,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was purchased at an average price of $12.54 per share, with a total value of $2,508,000.00. Following the completion of the transaction, the director now directly owns 18,356 shares of the company’s stock, valued at approximately $230,184.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David Pear sold 9,260 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $12.25, for a total transaction of $113,435.00. Following the sale, the senior vice president now directly owns 115,412 shares in the company, valued at $1,413,797. The disclosure for this sale can be found here. 14.60% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Del Taco Restaurants by 11.1% in the second quarter. FMR LLC now owns 4,685,160 shares of the restaurant operator’s stock valued at $64,421,000 after buying an additional 467,077 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Del Taco Restaurants by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,288,964 shares of the restaurant operator’s stock valued at $35,113,000 after buying an additional 345,199 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in Del Taco Restaurants by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 1,892,950 shares of the restaurant operator’s stock valued at $29,038,000 after buying an additional 40,230 shares during the period. Vanguard Group Inc. lifted its holdings in Del Taco Restaurants by 11.2% in the second quarter. Vanguard Group Inc. now owns 1,371,247 shares of the restaurant operator’s stock valued at $18,854,000 after buying an additional 137,941 shares during the period. Finally, Peregrine Capital Management LLC lifted its holdings in Del Taco Restaurants by 3.5% in the third quarter. Peregrine Capital Management LLC now owns 1,225,447 shares of the restaurant operator’s stock valued at $18,798,000 after buying an additional 41,685 shares during the period. 81.39% of the stock is currently owned by institutional investors and hedge funds.
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About Del Taco Restaurants
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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