BTIG Research Increases Del Taco Restaurants Inc. (TACO) Price Target to $16.00
Del Taco Restaurants Inc. (NASDAQ:TACO) had its price target hoisted by BTIG Research from $14.00 to $16.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 26.68% from the company’s current price.
TACO has been the topic of several other research reports. Zacks Investment Research lowered shares of Del Taco Restaurants from a “hold” rating to a “sell” rating in a report on Friday, July 1st. Jefferies Group restated a “buy” rating and set a $14.00 target price (down previously from $16.00) on shares of Del Taco Restaurants in a report on Thursday, July 21st. Wedbush restated an “outperform” rating and set a $17.00 target price (up previously from $15.00) on shares of Del Taco Restaurants in a report on Saturday. Finally, Citigroup Inc. lifted their target price on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Del Taco Restaurants has a consensus rating of “Buy” and a consensus target price of $14.17.
Del Taco Restaurants (NASDAQ:TACO) opened at 12.63 on Tuesday. Del Taco Restaurants has a one year low of $8.37 and a one year high of $14.56. The firm’s 50 day moving average price is $11.58 and its 200 day moving average price is $10.16. The stock has a market cap of $479.64 million, a price-to-earnings ratio of 31.19 and a beta of -0.01.
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Del Taco Restaurants (NASDAQ:TACO) last posted its earnings results on Monday, October 17th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The business had revenue of $104.42 million for the quarter, compared to analyst estimates of $101.61 million. Del Taco Restaurants had a net margin of 2.56% and a return on equity of 2.87%. The business’s revenue was up 27.3% compared to the same quarter last year. Equities analysts forecast that Del Taco Restaurants will post $0.55 earnings per share for the current year.
In other Del Taco Restaurants 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 value of $63,300.00. Following the transaction, the senior vice president now owns 125,080 shares in the company, valued at approximately $1,319,594. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 36.20% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new position in shares of Del Taco Restaurants during the second quarter worth approximately $1,097,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Del Taco Restaurants during the second quarter worth approximately $321,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Del Taco Restaurants during the second quarter worth approximately $253,000. Numeric Investors LLC purchased a new position in shares of Del Taco Restaurants during the second quarter worth approximately $1,700,000. Finally, National Asset Management Inc. raised its position in shares of 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. Hedge funds and other institutional investors own 63.12% of the company’s stock.
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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