Del Taco Restaurants Inc. (TACO) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Del Taco Restaurants Inc. (NASDAQ:TACO) announced its quarterly earnings results on Monday. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $104.42 million for the quarter, compared to analyst estimates of $101.61 million. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. Del Taco Restaurants updated its FY16 guidance to $0.53-0.56 EPS.
Shares of Del Taco Restaurants (NASDAQ:TACO) traded up 4.21% during mid-day trading on Monday, hitting $12.63. 1,163,108 shares of the stock traded hands. The firm’s 50 day moving average price is $11.54 and its 200-day moving average price is $10.15. The stock has a market cap of $479.64 million, a P/E ratio of 31.19 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.
Several research analysts have issued reports on TACO shares. Citigroup Inc. raised their price objective on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Zacks Investment Research raised shares of Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Saturday, July 23rd. Wedbush reissued an “outperform” rating and set a $15.00 price objective on shares of Del Taco Restaurants in a research report on Saturday, September 3rd. Finally, Jefferies Group reissued a “buy” rating and set a $14.00 price objective (down from $16.00) on shares of Del Taco Restaurants in a research report on Thursday, July 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $13.50.
In other news, SVP David Pear sold 6,000 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $10.55, for a total value of $63,300.00. Following the completion of the transaction, the senior vice president now directly owns 125,080 shares in the company, valued at $1,319,594. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Del Taco Restaurants by 66.5% in the second quarter. Dimensional Fund Advisors LP now owns 376,589 shares of the company’s stock valued at $3,427,000 after buying an additional 150,441 shares in the last quarter. Vanguard Group Inc. boosted its stake in Del Taco Restaurants by 7.1% in the second quarter. Vanguard Group Inc. now owns 1,077,278 shares of the company’s stock valued at $9,803,000 after buying an additional 71,226 shares in the last quarter. BlackRock Investment Management LLC bought a new stake in Del Taco Restaurants during the second quarter valued at about $875,000. BlackRock Fund Advisors boosted 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 valued at $5,461,000 after buying an additional 592,205 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted 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 valued at $4,862,000 after buying an additional 231,094 shares in the last quarter. 63.12% of the stock is currently 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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