Del Taco Restaurants Inc. (TACO) Stock Rating Reaffirmed by Wedbush
Del Taco Restaurants Inc. (NASDAQ:TACO)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report released on Saturday. They presently have a $17.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 34.60% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Saturday, July 23rd. Jefferies Group reaffirmed a “buy” rating and set a $14.00 target price (down from $16.00) on shares of Del Taco Restaurants in a research report on Thursday, July 21st. Finally, Citigroup Inc. lifted their target price on Del Taco Restaurants from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $13.50.
Shares of Del Taco Restaurants (NASDAQ:TACO) opened at 12.63 on Friday. The firm has a market capitalization of $479.64 million, a PE ratio of 31.19 and a beta of -0.01. The company has a 50 day moving average price of $11.58 and a 200-day moving average price of $10.16. Del Taco Restaurants has a 12 month low of $8.37 and a 12 month high of $14.56.
Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings data on Monday, October 17th. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $104.42 million for the quarter, compared to analysts’ expectations of $101.61 million. Del Taco Restaurants had a return on equity of 2.87% and a net margin of 2.56%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Equities research analysts expect that Del Taco Restaurants will post $0.55 EPS for the current fiscal year.
In other news, SVP David Pear sold 6,000 shares of Del Taco Restaurants stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $10.55, for a total transaction of $63,300.00. Following the sale, the senior vice president now directly owns 125,080 shares of the company’s stock, valued at $1,319,594. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 36.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TACO. Wedbush Securities Inc. raised its stake in shares of Del Taco Restaurants by 10.9% in the second quarter. Wedbush Securities Inc. now owns 15,630 shares of the company’s stock valued at $142,000 after buying an additional 1,530 shares in the last quarter. Wall Street Associates raised its stake in shares of Del Taco Restaurants by 1.8% in the second quarter. Wall Street Associates now owns 224,129 shares of the company’s stock valued at $2,040,000 after buying an additional 4,000 shares in the last quarter. National Asset Management Inc. raised its stake in shares of Del Taco Restaurants by 33.2% in the second quarter. National Asset Management Inc. now owns 20,000 shares of the company’s stock valued at $182,000 after buying an additional 4,989 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Del Taco Restaurants during the second quarter valued at $110,000. Finally, American International Group Inc. purchased a new stake in shares of Del Taco Restaurants during the second quarter valued at $121,000. 63.12% 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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