Brokers Offer Predictions for Del Taco Restaurants Inc.’s Q4 2016 Earnings (TACO)
Del Taco Restaurants Inc. (NASDAQ:TACO) – Equities researchers at Dougherty & Co boosted their Q4 2016 EPS estimates for shares of Del Taco Restaurants in a note issued to investors on Tuesday. Dougherty & Co analyst J. Hamblin now forecasts that the firm will post earnings of $0.22 per share for the quarter, up from their previous estimate of $0.21.
TACO has been the topic of several other reports. Zacks Investment Research lowered shares of Del Taco Restaurants from a “hold” rating to a “sell” rating in a research note on Friday, July 1st. Jefferies Group reaffirmed a “buy” rating and issued a $14.00 price objective (down from $16.00) on shares of Del Taco Restaurants in a research note on Thursday, July 21st. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Del Taco Restaurants in a research note on Saturday, September 3rd. Finally, Citigroup Inc. raised their price objective on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Del Taco Restaurants currently has an average rating of “Buy” and a consensus price target of $14.21.
Del Taco Restaurants (NASDAQ:TACO) opened at 11.77 on Wednesday. Del Taco Restaurants has a 52 week low of $8.37 and a 52 week high of $14.56. The firm has a market cap of $446.98 million, a price-to-earnings ratio of 29.06 and a beta of -0.01. The company has a 50-day moving average of $11.33 and a 200-day moving average of $10.08.
Del Taco Restaurants (NASDAQ:TACO) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Del Taco Restaurants had a net margin of 2.56% and a return on equity of 2.87%. The business had revenue of $100 million for the quarter, compared to analyst estimates of $100.06 million. The business’s revenue for the quarter was up 2.5% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC increased its stake in Del Taco Restaurants by 594.1% in the second quarter. Frontier Capital Management Co. LLC now owns 1,459,099 shares of the company’s stock worth $13,278,000 after buying an additional 1,248,898 shares during the period. BlackRock Fund Advisors increased its stake in Del Taco Restaurants by 7,518.2% in the second quarter. BlackRock Fund Advisors now owns 600,082 shares of the company’s stock worth $5,461,000 after buying an additional 592,205 shares during the period. Emerald Acquisition Ltd. bought a new stake in Del Taco Restaurants during the second quarter worth about $4,181,000. BlackRock Institutional Trust Company N.A. increased its stake in Del Taco Restaurants by 76.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 534,312 shares of the company’s stock worth $4,862,000 after buying an additional 231,094 shares during the period. Finally, State Street Corp increased its stake in Del Taco Restaurants by 667.7% in the second quarter. State Street Corp now owns 249,822 shares of the company’s stock worth $2,274,000 after buying an additional 217,279 shares during the period. 63.13% of the stock is currently owned by institutional investors.
In related news, SVP David Pear sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $10.55, for a total transaction of $63,300.00. Following the transaction, the senior vice president now directly owns 125,080 shares of the company’s stock, valued at $1,319,594. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 36.20% of the company’s stock.
Del Taco Restaurants Company Profile
Del Taco Restaurants, Inc, formerly Levy Acquisition Corporation, is an operator and franchisor of restaurants featuring fresh and fast made-to-order cuisine, including both Mexican inspired and American classic dishes. The Company operates Del Taco restaurants in approximately 20 states, including over one franchised restaurant in Guam.
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