Del Taco Restaurants (NASDAQ:TACO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
Other analysts have also recently issued research reports about the company. BidaskClub raised Del Taco Restaurants from a “strong sell” rating to a “sell” rating in a research report on Wednesday. ValuEngine cut Del Taco Restaurants from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Wedbush reaffirmed a “buy” rating and set a $17.00 price target on shares of Del Taco Restaurants in a research report on Thursday, March 15th. Finally, Maxim Group reaffirmed a “buy” rating and set a $19.00 price target (down previously from $20.00) on shares of Del Taco Restaurants in a research report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Del Taco Restaurants presently has an average rating of “Hold” and a consensus price target of $15.50.
TACO traded down $0.06 on Friday, reaching $11.51. 164,918 shares of the stock were exchanged, compared to its average volume of 294,319. Del Taco Restaurants has a fifty-two week low of $11.45 and a fifty-two week high of $11.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.31 and a current ratio of 0.39. The stock has a market cap of $449.90 million, a P/E ratio of 22.13, a P/E/G ratio of 1.23 and a beta of -0.03.
Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings results on Thursday, May 3rd. The restaurant operator reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). Del Taco Restaurants had a return on equity of 4.94% and a net margin of 10.21%. The firm had revenue of $112.55 million for the quarter, compared to analyst estimates of $112.77 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. analysts predict that Del Taco Restaurants will post 0.6 EPS for the current fiscal year.
In related news, Director Eileen A. Aptman acquired 9,000 shares of Del Taco Restaurants stock in a transaction on Friday, May 4th. The stock was acquired at an average price of $11.26 per share, for a total transaction of $101,340.00. Following the purchase, the director now owns 27,356 shares of the company’s stock, valued at approximately $308,028.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 14.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY purchased a new position in shares of Del Taco Restaurants during the 4th quarter valued at about $136,000. Teacher Retirement System of Texas purchased a new position in shares of Del Taco Restaurants during the 4th quarter valued at about $146,000. MetLife Investment Advisors LLC purchased a new position in shares of Del Taco Restaurants during the 4th quarter valued at about $196,000. PEAK6 Investments L.P. purchased a new position in shares of Del Taco Restaurants during the 4th quarter valued at about $275,000. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Del Taco Restaurants during the 4th quarter valued at about $298,000. Institutional investors and hedge funds own 77.31% 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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