Del Taco Restaurants, Inc. (TACO) Upgraded at Zacks Investment Research
Del Taco Restaurants, Inc. (NASDAQ:TACO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $16.00 price target on the restaurant operator’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 16.36% from the stock’s current price.
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. “
A number of other brokerages have also weighed in on TACO. BidaskClub lowered Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC restated a “buy” rating and issued a $16.00 target price on shares of Del Taco Restaurants in a research note on Monday, May 15th. Maxim Group restated a “buy” rating and issued a $19.00 target price on shares of Del Taco Restaurants in a research note on Thursday, June 22nd. Wedbush restated a “buy” rating and issued a $17.00 target price on shares of Del Taco Restaurants in a research note on Monday, May 15th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $13.00 target price on shares of Del Taco Restaurants in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Del Taco Restaurants currently has a consensus rating of “Buy” and an average target price of $15.71.
Shares of Del Taco Restaurants (TACO) opened at 13.75 on Friday. The company has a 50-day moving average of $13.06 and a 200 day moving average of $13.06. Del Taco Restaurants has a 12-month low of $10.75 and a 12-month high of $15.32. The firm has a market cap of $531.93 million, a P/E ratio of 24.21 and a beta of -0.22.
Del Taco Restaurants (NASDAQ:TACO) last announced its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.13. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The company had revenue of $108.60 million during the quarter, compared to analyst estimates of $107.08 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that Del Taco Restaurants will post $0.55 EPS for the current year.
A number of hedge funds have recently made changes to their positions in TACO. Bank of Montreal Can increased its position in Del Taco Restaurants by 5,995.7% in the second quarter. Bank of Montreal Can now owns 9,814 shares of the restaurant operator’s stock worth $135,000 after purchasing an additional 9,653 shares during the period. Voya Investment Management LLC acquired a new stake in Del Taco Restaurants in the second quarter worth about $165,000. American International Group Inc. increased its position in Del Taco Restaurants by 7.0% in the first quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock worth $189,000 after purchasing an additional 927 shares during the period. Martingale Asset Management L P acquired a new stake in Del Taco Restaurants in the second quarter worth about $200,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Del Taco Restaurants in the second quarter worth about $249,000. Hedge funds and other institutional investors 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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