Del Taco Restaurants Inc. (TACO) Sees Large Volume Increase on Strong Earnings
Del Taco Restaurants Inc. (NASDAQ:TACO) shares saw unusually-strong trading volume on Tuesday following a stronger than expected earnings report. Approximately 3,467,769 shares traded hands during mid-day trading, an increase of 544% from the previous session’s volume of 538,089 shares.The stock last traded at $13.74 and had previously closed at $12.63.
The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The firm earned $104.42 million during the quarter, compared to analyst estimates of $101.61 million. Del Taco Restaurants had a return on equity of 2.87% and a net margin of 2.56%. Del Taco Restaurants’s revenue was up 27.3% on a year-over-year basis.
A number of analysts recently commented on TACO shares. Citigroup Inc. lifted their price objective on Del Taco Restaurants from $12.00 to $13.00 and gave the stock a “buy” rating in a research 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 objective for the company in a research report on Saturday, July 23rd. BTIG Research lifted their price objective on Del Taco Restaurants from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $15.00 price objective on shares of Del Taco Restaurants in a research report on Saturday, September 3rd. Finally, Jefferies Group reiterated a “buy” rating and issued a $14.00 price objective (down from $16.00) on shares of Del Taco Restaurants in a research report on Thursday, July 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $14.17.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/del-taco-restaurants-inc-taco-sees-large-volume-increase-on-strong-earnings.html
In other Del Taco Restaurants 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 transaction, the senior vice president now owns 125,080 shares in the company, valued at $1,319,594. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 36.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new position in Del Taco Restaurants during the second quarter valued at $441,000. Frontier Capital Management Co. LLC boosted its position in Del Taco Restaurants by 594.1% in the second quarter. Frontier Capital Management Co. LLC now owns 1,459,099 shares of the company’s stock valued at $13,278,000 after buying an additional 1,248,898 shares during the period. Emerald Acquisition Ltd. acquired a new position in Del Taco Restaurants during the second quarter valued at $4,181,000. Wedbush Securities Inc. boosted its position in Del Taco Restaurants by 10.9% in the second quarter. Wedbush Securities Inc. now owns 15,630 shares of the company’s stock valued at $142,000 after buying an additional 1,530 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in Del Taco Restaurants during the second quarter valued at $1,097,000. Hedge funds and other institutional investors own 63.12% of the company’s stock.
The firm has a market cap of $523.31 million, a price-to-earnings ratio of 34.02 and a beta of -0.01. The firm’s 50-day moving average is $11.58 and its 200-day moving average is $10.16.
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.
Receive News & Ratings for Del Taco Restaurants Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Del Taco Restaurants Inc. and related companies with MarketBeat.com's FREE daily email newsletter.