Del Taco Restaurants, Inc. (NASDAQ:TACO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Del Taco is the second largest Mexican-American QSR chain by units in the United States, serving more than three million guests each week. At Del Taco, menu items are made to order with fresh ingredients, including Cheddar cheese grated from 40-pound blocks, handmade pico de gallo salsa, lard-free beans slow-cooked from scratch, and marinated chicken grilled in the restaurant. The menu includes classic Mexican dishes such as tacos, burritos, quesadillas and nachos as well as American favorites including hamburgers, crinkle-cut fries and shakes. The company was founded on June 30, 2015 and is headquartered in Lake Forest, CA. “

Several other research firms have also weighed in on TACO. BidaskClub lowered shares of Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Del Taco Restaurants in a report on Monday, May 15th. Maxim Group reaffirmed a “buy” rating and issued a $19.00 target price on shares of Del Taco Restaurants in a report on Thursday, June 22nd. Wedbush reaffirmed a “buy” rating and issued a $17.00 target price on shares of Del Taco Restaurants in a report on Monday, May 15th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $13.00 target price on shares of Del Taco Restaurants in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Del Taco Restaurants currently has an average rating of “Hold” and an average price target of $15.57.

Del Taco Restaurants (NASDAQ:TACO) opened at 13.83 on Thursday. The firm has a market capitalization of $535.03 million, a price-to-earnings ratio of 24.35 and a beta of -0.22. Del Taco Restaurants has a 12-month low of $10.75 and a 12-month high of $15.32. The stock has a 50 day moving average of $13.03 and a 200 day moving average of $13.06.

Del Taco Restaurants (NASDAQ:TACO) last posted its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Del Taco Restaurants had a net margin of 4.81% and a return on equity of 5.90%. The business had revenue of $108.60 million for the quarter, compared to analyst estimates of $107.08 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Del Taco Restaurants will post $0.55 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in Del Taco Restaurants by 11.1% during the 2nd quarter. FMR LLC now owns 4,685,160 shares of the restaurant operator’s stock worth $64,421,000 after buying an additional 467,077 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Del Taco Restaurants by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,943,765 shares of the restaurant operator’s stock worth $26,727,000 after buying an additional 340,701 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Del Taco Restaurants by 3.1% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,851,486 shares of the restaurant operator’s stock worth $24,551,000 after buying an additional 55,672 shares in the last quarter. Vanguard Group Inc. lifted its position in Del Taco Restaurants by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,371,247 shares of the restaurant operator’s stock worth $18,854,000 after buying an additional 137,941 shares in the last quarter. Finally, ACK Asset Management LLC lifted its position in Del Taco Restaurants by 7.0% during the 1st quarter. ACK Asset Management LLC now owns 1,119,900 shares of the restaurant operator’s stock worth $12,285,000 after buying an additional 73,421 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

About Del Taco Restaurants

Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.

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Analyst Recommendations for Del Taco Restaurants (NASDAQ:TACO)

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