FY2018 EPS Estimates for Del Taco Restaurants, Inc. Reduced by Wedbush (TACO)
Del Taco Restaurants, Inc. (NASDAQ:TACO) – Equities researchers at Wedbush cut their FY2018 earnings estimates for Del Taco Restaurants in a research note issued to investors on Wednesday. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $0.59 per share for the year, down from their prior estimate of $0.60. Wedbush has a “Buy” rating and a $17.00 price target on the stock.
Del Taco Restaurants (NASDAQ:TACO) last announced its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $108.60 million during the quarter, compared to analysts’ expectations of $107.08 million. Del Taco Restaurants had a net margin of 4.81% and a return on equity of 5.90%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS.
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Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Del Taco Restaurants from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 price objective on shares of Del Taco Restaurants in a research report on Wednesday, July 26th. Finally, BidaskClub downgraded Del Taco Restaurants from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $16.17.
Del Taco Restaurants (TACO) traded up 0.579% during midday trading on Friday, reaching $14.775. 159,546 shares of the company’s stock traded hands. The stock has a 50-day moving average of $13.30 and a 200 day moving average of $13.09. The company has a market cap of $571.59 million, a P/E ratio of 26.012 and a beta of -0.22. Del Taco Restaurants has a 52-week low of $10.95 and a 52-week high of $15.32.
A number of hedge funds and other institutional investors have recently modified their holdings of TACO. FMR LLC raised its stake in Del Taco Restaurants by 21.6% during the first quarter. FMR LLC now owns 4,218,083 shares of the restaurant operator’s stock worth $55,932,000 after acquiring an additional 749,348 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Del Taco Restaurants by 2,349.8% in the second quarter. UBS Asset Management Americas Inc. now owns 594,017 shares of the restaurant operator’s stock valued at $8,168,000 after buying an additional 569,769 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Del Taco Restaurants by 35.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,603,064 shares of the restaurant operator’s stock valued at $21,257,000 after buying an additional 422,749 shares during the period. RK Capital Management LLC acquired a new position in shares of Del Taco Restaurants in the first quarter valued at approximately $5,137,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Del Taco Restaurants in the first quarter valued at approximately $4,148,000. 70.32% of the stock is owned by hedge funds and other institutional investors.
Del Taco Restaurants Company Profile
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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