Del Taco Restaurants Inc. (TACO) Releases FY16 Earnings Guidance
Del Taco Restaurants Inc. (NASDAQ:TACO) updated its FY16 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.53-0.56 for the period, compared to the Thomson Reuters consensus estimate of $0.55. The company issued revenue guidance of $446-449 million, compared to the consensus revenue estimate of $446.83 million.
Several research firms recently commented on TACO. Wedbush restated an outperform rating and set a $15.00 price target on shares of Del Taco Restaurants in a research report on Saturday. Citigroup Inc. raised their price target on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the company a buy rating in a research report on Tuesday, September 13th. Zacks Investment Research upgraded shares of Del Taco Restaurants from a hold rating to a buy rating and set a $12.00 price target on the stock in a research report on Saturday, July 23rd. Finally, Jefferies Group restated a buy rating and set a $14.00 price target (down previously from $16.00) on shares of Del Taco Restaurants in a research report on Thursday, July 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $13.50.
Shares of Del Taco Restaurants Inc. (NASDAQ:TACO) traded up 4.21% during mid-day trading on Monday, hitting $12.63. 1,166,529 shares of the stock traded hands. Del Taco Restaurants Inc. has a 12-month low of $8.37 and a 12-month high of $14.56. The firm has a market cap of $479.64 million, a price-to-earnings ratio of 31.19 and a beta of -0.01. The firm’s 50 day moving average price is $11.54 and its 200 day moving average price is $10.15.
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Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings results on Monday, October 17th. The company reported $0.13 EPS for the quarter, beating the 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 earned $104.42 million during the quarter, compared to the consensus estimate of $101.61 million. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, equities research analysts predict that Del Taco Restaurants Inc. will post $0.55 EPS for the current fiscal year.
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 value of $63,300.00. Following the completion of the sale, the senior vice president now owns 125,080 shares in the company, valued at approximately $1,319,594. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 36.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in TACO. 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 valued at $182,000 after buying an additional 4,989 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of Del Taco Restaurants during the second quarter worth approximately $110,000. State Street Corp increased its position in shares of Del Taco Restaurants by 667.7% in the second quarter. State Street Corp now owns 249,822 shares of the company’s stock worth $2,274,000 after buying an additional 217,279 shares during the last quarter. Keeley Asset Management Corp increased its position in shares of Del Taco Restaurants by 22.3% in the second quarter. Keeley Asset Management Corp now owns 825,467 shares of the company’s stock worth $7,512,000 after buying an additional 150,737 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Del Taco Restaurants during the second quarter worth approximately $196,000. Hedge funds and other institutional investors own 63.12% of the company’s stock.
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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