BTIG Research Raises Del Taco Restaurants Inc. (TACO) Price Target to $16.00
Del Taco Restaurants Inc. (NASDAQ:TACO) had its price objective increased by analysts at BTIG Research from $14.00 to $16.00 in a report released on Tuesday. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 26.68% from the stock’s previous close.
Several other research firms have also recently issued reports on TACO. Citigroup Inc. raised their price target on Del Taco Restaurants from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Zacks Investment Research upgraded Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Saturday, July 23rd. Wedbush restated an “outperform” rating and set a $15.00 target price on shares of Del Taco Restaurants in a report on Saturday, September 3rd. Finally, 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Del Taco Restaurants has a consensus rating of “Buy” and an average price target of $14.17.
Del Taco Restaurants (NASDAQ:TACO) opened at 12.63 on Tuesday. The firm has a market cap of $479.64 million, a P/E ratio of 31.19 and a beta of -0.01. Del Taco Restaurants has a one year low of $8.37 and a one year high of $14.56. The stock has a 50 day moving average price of $11.58 and a 200-day moving average price of $10.16.
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Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings results on Monday, October 17th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $104.42 million for the quarter, compared to analysts’ expectations of $101.61 million. Del Taco Restaurants had a return on equity of 2.87% and a net margin of 2.56%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. Analysts predict that Del Taco Restaurants will post $0.55 EPS for the current fiscal year.
In other news, SVP David Pear sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $10.55, for a total transaction of $63,300.00. Following the sale, the senior vice president now owns 125,080 shares of the company’s stock, valued at $1,319,594. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 36.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. A.R.T. Advisors LLC acquired a new stake in Del Taco Restaurants during the second quarter worth approximately $110,000. American International Group Inc. acquired a new stake in Del Taco Restaurants during the second quarter worth approximately $121,000. Wedbush Securities Inc. raised 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. raised 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 approximately $196,000. 63.12% of the stock is currently owned by institutional investors.
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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