Zacks Investment Research Lowers Del Taco Restaurants, Inc. (TACO) to Hold
Del Taco Restaurants, Inc. (NASDAQ:TACO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
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 report on Saturday, August 5th. Maxim Group reaffirmed 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 reaffirmed a “buy” rating and issued a $17.00 target price on shares of Del Taco Restaurants in a research note on Wednesday. Finally, Piper Jaffray Companies reaffirmed 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $16.17.
Shares of Del Taco Restaurants (NASDAQ TACO) traded up 1.77% during midday trading on Thursday, reaching $14.95. 593,379 shares of the company traded hands. The stock has a 50 day moving average price of $13.36 and a 200 day moving average price of $13.11. Del Taco Restaurants has a 1-year low of $10.95 and a 1-year high of $15.32. The firm has a market capitalization of $578.36 million, a PE ratio of 26.32 and a beta of -0.22.
Del Taco Restaurants (NASDAQ:TACO) last announced its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $108.60 million for the quarter, compared to analyst estimates of $107.08 million. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. Analysts expect that Del Taco Restaurants will post $0.55 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Bank of Montreal Can increased its position 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 purchasing an additional 9,653 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Del Taco Restaurants during the 2nd quarter worth about $165,000. American International Group Inc. increased its position in shares of Del Taco Restaurants by 7.0% during the 1st 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 last quarter. Martingale Asset Management L P acquired a new stake in shares of Del Taco Restaurants during the 2nd quarter worth about $200,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Del Taco Restaurants during the 2nd quarter worth about $249,000. 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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