Del Taco Restaurants Inc. (TACO) Shares Up 4.4%
Del Taco Restaurants Inc. (NASDAQ:TACO) shares shot up 4.4% during mid-day trading on Wednesday . The company traded as high as $11.64 and last traded at $11.64, with a volume of 263,457 shares. The stock had previously closed at $11.15.
A number of research firms have recently issued reports on TACO. Zacks Investment Research downgraded shares of Del Taco Restaurants from a “hold” rating to a “sell” rating in a research report on Friday, July 1st. Jefferies Group restated a “buy” rating and issued a $14.00 price target (down from $16.00) on shares of Del Taco Restaurants in a research report on Thursday, July 21st. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of Del Taco Restaurants in a research report on Saturday, September 3rd. Finally, Citigroup Inc. raised their price target 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $14.21.
The firm has a 50 day moving average price of $10.89 and a 200-day moving average price of $9.98. The stock has a market cap of $441.66 million and a price-to-earnings ratio of 28.72.
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Del Taco Restaurants (NASDAQ:TACO) last announced its earnings results on Wednesday, July 20th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $100 million for the quarter, compared to analyst estimates of $100.06 million. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts expect that Del Taco Restaurants Inc. will post $0.55 earnings per share for the current year.
In related news, SVP David Pear sold 6,000 shares of the business’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 transaction, the senior vice president now owns 125,080 shares of the company’s stock, valued at $1,319,594. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 36.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. A.R.T. Advisors LLC bought a new position in shares of Del Taco Restaurants during the second quarter worth about $110,000. American International Group Inc. acquired a new stake in Del Taco Restaurants during the second quarter worth $121,000. Wedbush Securities Inc. increased its stake in Del Taco Restaurants by 10.9% in the second quarter. Wedbush Securities Inc. now owns 15,630 shares of the company’s stock worth $142,000 after buying an additional 1,530 shares in the last quarter. National Asset Management Inc. increased its stake in Del Taco Restaurants by 33.2% in the second quarter. National Asset Management Inc. now owns 20,000 shares of the company’s stock worth $182,000 after buying an additional 4,989 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in Del Taco Restaurants during the second quarter worth $196,000. 63.13% of the stock is currently owned by institutional investors and hedge funds.
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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