Del Taco Restaurants, Inc. (TACO) Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) from a buy rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Del Taco is the second largest Mexican-American QSR chain by units in the United States, serving more than three million guests each week. At Del Taco, menu items are made to order with fresh ingredients, including Cheddar cheese grated from 40-pound blocks, handmade pico de gallo salsa, lard-free beans slow-cooked from scratch, and marinated chicken grilled in the restaurant. The menu includes classic Mexican dishes such as tacos, burritos, quesadillas and nachos as well as American favorites including hamburgers, crinkle-cut fries and shakes. The company was founded on June 30, 2015 and is headquartered in Lake Forest, CA. “
A number of other equities analysts have also recently commented on TACO. BidaskClub cut Del Taco Restaurants from a sell rating to a strong sell rating in a report on Saturday, August 5th. Piper Jaffray Companies reiterated a hold rating and set a $13.00 price target on shares of Del Taco Restaurants in a report on Wednesday, July 26th. Wedbush reiterated a buy rating and set a $17.00 price target on shares of Del Taco Restaurants in a report on Monday, May 15th. Maxim Group reiterated a buy rating and set a $19.00 price target on shares of Del Taco Restaurants in a report on Thursday, June 22nd. Finally, Jefferies Group LLC reiterated a buy rating and set a $16.00 price target on shares of Del Taco Restaurants in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $15.71.
Shares of Del Taco Restaurants (TACO) traded down 0.51% during mid-day trading on Thursday, reaching $13.68. The company had a trading volume of 120,664 shares. The company has a market capitalization of $529.22 million, a price-to-earnings ratio of 24.08 and a beta of -0.22. The firm’s 50-day moving average is $13.06 and its 200 day moving average is $13.06. Del Taco Restaurants has a 12 month low of $10.75 and a 12 month high of $15.32.
Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The business had revenue of $108.60 million during the quarter, compared to analysts’ expectations of $107.08 million. During the same quarter last year, the company posted $0.13 earnings per share. Del Taco Restaurants’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Del Taco Restaurants will post $0.55 earnings per share for the current year.
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Large investors have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in shares of Del Taco Restaurants by 5,995.7% during the second quarter. Bank of Montreal Can now owns 9,814 shares of the restaurant operator’s stock worth $135,000 after acquiring an additional 9,653 shares during the period. Voya Investment Management LLC bought a new stake in shares of Del Taco Restaurants during the second quarter worth approximately $165,000. American International Group Inc. boosted its holdings in shares of Del Taco Restaurants by 7.0% during the first quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock worth $189,000 after acquiring an additional 927 shares during the period. Martingale Asset Management L P bought a new stake in shares of Del Taco Restaurants during the second quarter worth approximately $200,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Del Taco Restaurants during the second quarter worth approximately $249,000. Institutional investors own 70.32% of the company’s stock.
Del Taco Restaurants Company Profile
Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.
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