Investors Purchase Large Volume of Put Options on Del Taco Restaurants (TACO)

Del Taco Restaurants Inc (NASDAQ:TACO) saw some unusual options trading on Wednesday. Traders bought 1,991 put options on the company. This represents an increase of approximately 1,443% compared to the typical volume of 129 put options.

Shares of TACO opened at $10.18 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.39 and a quick ratio of 0.34. The stock has a market capitalization of $452.32 million, a price-to-earnings ratio of 19.44, a P/E/G ratio of 1.24 and a beta of -0.08. Del Taco Restaurants has a 52 week low of $9.45 and a 52 week high of $15.41.

Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings results on Tuesday, October 16th. The restaurant operator reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $117.83 million during the quarter, compared to analysts’ expectations of $119.84 million. Del Taco Restaurants had a return on equity of 4.84% and a net margin of 9.79%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 earnings per share. As a group, research analysts anticipate that Del Taco Restaurants will post 0.6 earnings per share for the current fiscal year.

A number of research firms recently commented on TACO. Dougherty & Co upped their price objective on Del Taco Restaurants from $16.50 to $18.50 and gave the company a “buy” rating in a research report on Friday, July 6th. Zacks Investment Research upgraded Del Taco Restaurants from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th. ValuEngine upgraded Del Taco Restaurants from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. TheStreet upgraded Del Taco Restaurants from a “c+” rating to a “b-” rating in a research report on Wednesday, July 18th. Finally, BidaskClub cut Del Taco Restaurants from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Del Taco Restaurants has an average rating of “Hold” and an average price target of $15.13.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Del Taco Restaurants by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,213,866 shares of the restaurant operator’s stock worth $45,572,000 after buying an additional 185,107 shares in the last quarter. BlackRock Inc. grew its position in shares of Del Taco Restaurants by 21.5% during the first quarter. BlackRock Inc. now owns 3,076,121 shares of the restaurant operator’s stock worth $31,868,000 after purchasing an additional 544,121 shares in the last quarter. Royce & Associates LP grew its position in shares of Del Taco Restaurants by 23.7% during the second quarter. Royce & Associates LP now owns 1,452,863 shares of the restaurant operator’s stock worth $20,602,000 after purchasing an additional 278,300 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Del Taco Restaurants by 1.4% during the second quarter. Voya Investment Management LLC now owns 1,129,453 shares of the restaurant operator’s stock worth $16,016,000 after purchasing an additional 15,124 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Del Taco Restaurants by 74.9% during the second quarter. Millennium Management LLC now owns 906,943 shares of the restaurant operator’s stock worth $12,860,000 after purchasing an additional 388,445 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

About Del Taco Restaurants

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 January 2, 2018, it operated 312 company-operated and 252 franchise-operated Del Taco restaurants located in 14 states, including 1 franchise-operated unit in Guam.

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