Del Taco Restaurants, Inc. (TACO) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research downgraded shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
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. “
Several other research analysts have also recently issued reports on TACO. Maxim Group reissued a buy rating and issued a $19.00 price target on shares of Del Taco Restaurants in a research note on Thursday, June 22nd. BidaskClub cut Del Taco Restaurants from a buy rating to a hold rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reissued a hold rating and issued a $13.00 price target on shares of Del Taco Restaurants in a research note on Wednesday, July 26th. Finally, Wedbush reissued a buy rating and issued a $17.00 price target on shares of Del Taco Restaurants in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Del Taco Restaurants presently has an average rating of Buy and a consensus price target of $16.17.
Shares of Del Taco Restaurants (NASDAQ:TACO) opened at 14.95 on Thursday. The stock has a market capitalization of $578.36 million, a price-to-earnings ratio of 26.32 and a beta of -0.22. Del Taco Restaurants has a 12 month low of $10.95 and a 12 month high of $15.32. The firm’s 50 day moving average is $13.36 and its 200 day moving average is $13.11.
Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The company had revenue of $108.60 million during the quarter, compared to analysts’ expectations of $107.08 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Del Taco Restaurants will post $0.55 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in 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 valued at $135,000 after buying an additional 9,653 shares in the last quarter. Voya Investment Management LLC bought a new position in Del Taco Restaurants during the second quarter valued at about $165,000. American International Group Inc. boosted its stake in 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 valued at $189,000 after buying an additional 927 shares in the last quarter. Martingale Asset Management L P bought a new position in Del Taco Restaurants during the second quarter valued at about $200,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Del Taco Restaurants during the second quarter valued at about $249,000. 69.94% of the stock is owned by institutional investors and hedge funds.
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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