Del Taco Restaurants (NASDAQ:TACO)‘s stock had its “buy” rating reiterated by research analysts at Maxim Group in a note issued to investors on Monday, January 8th. They currently have a $20.00 target price on the restaurant operator’s stock. Maxim Group’s target price points to a potential upside of 58.86% from the stock’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.””
TACO has been the topic of several other reports. BidaskClub lowered shares of Del Taco Restaurants from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Wedbush reiterated a “buy” rating and set a $17.00 price objective on shares of Del Taco Restaurants in a report on Friday, October 20th. Zacks Investment Research lowered shares of Del Taco Restaurants from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Jefferies Group restated a “buy” rating and issued a $15.00 price target on shares of Del Taco Restaurants in a report on Friday, December 22nd. Finally, BTIG Research cut their price target on shares of Del Taco Restaurants from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.67.
Del Taco Restaurants (NASDAQ:TACO) opened at $12.59 on Monday. The firm has a market cap of $491.59, a PE ratio of 22.48, a PEG ratio of 1.34 and a beta of -0.23. Del Taco Restaurants has a 1-year low of $11.58 and a 1-year high of $15.99. The company has a current ratio of 0.29, a quick ratio of 0.24 and a debt-to-equity ratio of 0.42.
In related news, SVP David Pear sold 9,260 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $12.25, for a total value of $113,435.00. Following the transaction, the senior vice president now owns 115,412 shares in the company, valued at $1,413,797. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 14.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Del Taco Restaurants by 11.1% during the second quarter. FMR LLC now owns 4,685,160 shares of the restaurant operator’s stock valued at $64,421,000 after purchasing an additional 467,077 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Del Taco Restaurants by 17.8% during 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 purchasing an additional 345,199 shares during the period. Frontier Capital Management Co. LLC raised its stake in shares of Del Taco Restaurants by 2.2% during 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 purchasing an additional 40,230 shares during the period. Vanguard Group Inc. raised its stake in shares of Del Taco Restaurants by 11.2% during the second quarter. Vanguard Group Inc. now owns 1,371,247 shares of the restaurant operator’s stock valued at $18,854,000 after purchasing an additional 137,941 shares during the period. Finally, Peregrine Capital Management LLC raised its stake in shares of Del Taco Restaurants by 3.5% during 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 purchasing an additional 41,685 shares during the period. Institutional investors own 81.81% of the company’s stock.
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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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