BidaskClub Lowers Del Taco Restaurants (TACO) to Sell
Del Taco Restaurants (NASDAQ:TACO) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
Several other brokerages have also recently commented on TACO. Zacks Investment Research upgraded shares of Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Saturday, September 16th. TheStreet cut Del Taco Restaurants from a “b-” rating to a “c+” rating in a research note on Friday, October 20th. Maxim Group reissued a “buy” rating and issued a $19.00 price target on shares of Del Taco Restaurants in a research note on Friday, October 20th. BTIG Research reissued a “buy” rating and issued a $19.00 price target on shares of Del Taco Restaurants in a research note on Monday, September 25th. Finally, Jefferies Group reissued a “buy” rating and issued a $16.00 price target on shares of Del Taco Restaurants in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Del Taco Restaurants presently has a consensus rating of “Hold” and an average price target of $16.67.
Shares of Del Taco Restaurants (TACO) traded down $0.02 during trading on Thursday, reaching $12.09. 199,312 shares of the company’s stock traded hands, compared to its average volume of 383,953. The company has a current ratio of 0.29, a quick ratio of 0.24 and a debt-to-equity ratio of 0.42. Del Taco Restaurants has a 12-month low of $11.58 and a 12-month high of $15.99. The company has a market capitalization of $465.67, a PE ratio of 21.89, a PEG ratio of 1.34 and a beta of -0.29.
In related news, Director Lawrence F. Levy purchased 200,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were purchased at an average price of $12.54 per share, with a total value of $2,508,000.00. Following the purchase, the director now owns 18,356 shares of the company’s stock, valued at approximately $230,184.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.60% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. increased its stake in Del Taco Restaurants by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 100,182 shares of the restaurant operator’s stock worth $1,378,000 after purchasing an additional 761 shares in the last quarter. Geode Capital Management LLC increased its stake in Del Taco Restaurants by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 276,260 shares of the restaurant operator’s stock worth $3,663,000 after purchasing an additional 6,730 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Del Taco Restaurants by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,872 shares of the restaurant operator’s stock worth $356,000 after purchasing an additional 7,802 shares in the last quarter. Bank of America Corp DE grew its stake in Del Taco Restaurants by 45.5% during the 1st quarter. Bank of America Corp DE now owns 26,256 shares of the restaurant operator’s stock valued at $348,000 after acquiring an additional 8,207 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Del Taco Restaurants during the 3rd quarter valued at about $131,000. 81.39% of the stock is currently owned by hedge funds and other institutional investors.
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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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