Del Taco Restaurants, Inc. (TACO) Upgraded to “Buy” by 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 Saturday. The brokerage currently has a $16.00 price objective on the restaurant operator’s stock. Zacks Investment Research‘s price target points to a potential upside of 7.02% from the company’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 research analysts also recently commented on TACO. Maxim Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Del Taco Restaurants in a report on Thursday, June 22nd. Wedbush reiterated a “buy” rating and issued a $17.00 price objective on shares of Del Taco Restaurants in a report on Wednesday. BidaskClub downgraded Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a report on Sunday, July 30th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $13.00 price objective on shares of Del Taco Restaurants in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $16.17.
Del Taco Restaurants (NASDAQ:TACO) opened at 14.95 on Friday. The stock has a market cap of $578.36 million, a price-to-earnings ratio of 26.32 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. The stock’s 50 day moving average price is $13.36 and its 200 day moving average price is $13.11.
Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The firm had revenue of $108.60 million for the quarter, compared to the consensus estimate of $107.08 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Del Taco Restaurants will post $0.55 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of TACO. Bank of Montreal Can raised its stake in shares of Del Taco Restaurants by 5,995.7% during the 2nd quarter. Bank of Montreal Can now owns 9,814 shares of the restaurant operator’s stock worth $135,000 after buying an additional 9,653 shares in the last quarter. Voya Investment Management LLC purchased a new position in Del Taco Restaurants in the 2nd quarter valued at approximately $165,000. American International Group Inc. increased its stake in Del Taco Restaurants by 7.0% in the 1st quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock valued at $189,000 after purchasing an additional 927 shares in the last quarter. Martingale Asset Management L P purchased a new position in Del Taco Restaurants in the 2nd quarter valued at approximately $200,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Del Taco Restaurants in the 2nd quarter valued at approximately $249,000. 70.32% of the stock is owned by institutional investors and hedge funds.
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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