Del Taco Restaurants’ (TACO) Outperform Rating Reaffirmed at Wedbush
Del Taco Restaurants Inc. (NASDAQ:TACO)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Saturday. They presently have a $15.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 23.76% from the stock’s current price.
Other analysts have also recently issued reports about the company. Citigroup Inc. upped their price target on Del Taco Restaurants from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. Zacks Investment Research raised Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Saturday, July 23rd. Finally, Jefferies Group reissued a “buy” rating and set a $14.00 target price (down from $16.00) on shares of Del Taco Restaurants in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $13.50.
Del Taco Restaurants (NASDAQ:TACO) remained flat at $12.12 during trading on Friday. 829,310 shares of the company traded hands. The firm has a market cap of $460.27 million, a PE ratio of 29.93 and a beta of -0.01. Del Taco Restaurants has a 12 month low of $8.37 and a 12 month high of $14.56. The firm has a 50-day moving average of $11.54 and a 200 day moving average of $10.15.
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 analysts’ consensus estimates of $0.12 by $0.01. The company earned $100 million during the quarter, compared to analysts’ expectations of $100.06 million. Del Taco Restaurants had a return on equity of 2.87% and a net margin of 2.56%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts predict that Del Taco Restaurants will post $0.55 EPS for the current fiscal year.
In other Del Taco Restaurants news, SVP David Pear sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $10.55, for a total transaction of $63,300.00. Following the completion of the transaction, the senior vice president now owns 125,080 shares of the company’s stock, valued at approximately $1,319,594. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 36.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in Del Taco Restaurants during the second quarter worth $1,097,000. Schwab Charles Investment Management Inc. purchased a new position in Del Taco Restaurants during the second quarter worth $321,000. Metropolitan Life Insurance Co. NY purchased a new position in Del Taco Restaurants during the second quarter worth $253,000. Numeric Investors LLC purchased a new position in Del Taco Restaurants during the second quarter worth $1,700,000. Finally, National Asset Management Inc. increased its position in Del Taco Restaurants by 33.2% in the second quarter. National Asset Management Inc. now owns 20,000 shares of the company’s stock worth $182,000 after buying an additional 4,989 shares during the period. 63.13% of the stock is owned by hedge funds and other institutional investors.
About Del Taco Restaurants
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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