Del Taco Restaurants Inc. (TACO) Receives $13.50 Consensus Target Price from Analysts
Shares of Del Taco Restaurants Inc. (NASDAQ:TACO) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.50.
Several research analysts recently issued reports on TACO shares. Zacks Investment Research upgraded Del Taco Restaurants from a “sell” rating to a “hold” rating in a research report on Saturday, June 25th. Jefferies Group restated 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. Wedbush restated 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, Citigroup Inc. lifted their price objective 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.
In related 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 transaction of $63,300.00. Following the completion of the sale, the senior vice president now directly owns 125,080 shares of the company’s stock, valued at approximately $1,319,594. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 36.20% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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. BlackRock Fund Advisors boosted its stake in shares of 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. BlackRock Investment Management LLC acquired a new stake in shares of Del Taco Restaurants during the second quarter worth $875,000. Vanguard Group Inc. boosted its stake in shares of Del Taco Restaurants by 7.1% in the second quarter. Vanguard Group Inc. now owns 1,077,278 shares of the company’s stock worth $9,803,000 after buying an additional 71,226 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Del Taco Restaurants by 66.5% in the second quarter. Dimensional Fund Advisors LP now owns 376,589 shares of the company’s stock worth $3,427,000 after buying an additional 150,441 shares during the period. 63.13% of the stock is owned by hedge funds and other institutional investors.
Del Taco Restaurants (NASDAQ:TACO) opened at 12.12 on Friday. The stock’s 50 day moving average price is $11.54 and its 200 day moving average price is $10.15. Del Taco Restaurants has a 52-week low of $8.37 and a 52-week high of $14.56. The stock has a market capitalization of $460.27 million, a price-to-earnings ratio of 29.93 and a beta of -0.01.
Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Del Taco Restaurants had a return on equity of 2.87% and a net margin of 2.56%. The firm earned $100 million during the quarter, compared to the consensus estimate of $100.06 million. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that Del Taco Restaurants will post $0.55 EPS for the current year.
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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