Brokerages predict that Del Taco Restaurants Inc (NASDAQ:TACO) will report $147.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Del Taco Restaurants’ earnings. The highest sales estimate is $148.60 million and the lowest is $146.40 million. Del Taco Restaurants posted sales of $150.24 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The firm is expected to issue its next earnings report on Monday, March 12th.
On average, analysts expect that Del Taco Restaurants will report full-year sales of $147.50 million for the current financial year, with estimates ranging from $471.40 million to $473.70 million. For the next year, analysts expect that the business will post sales of $506.04 million per share, with estimates ranging from $499.20 million to $511.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Del Taco Restaurants.
A number of equities research analysts recently weighed in on TACO shares. TheStreet raised shares of Del Taco Restaurants from a “c” rating to a “b-” rating in a research note on Wednesday, December 13th. Maxim Group reissued a “buy” rating and set a $20.00 price target on shares of Del Taco Restaurants in a research note on Friday, December 22nd. Jefferies Group reissued a “buy” rating and set a $15.00 price target on shares of Del Taco Restaurants in a research note on Friday, December 22nd. Wedbush reissued a “buy” rating and set a $17.00 price target on shares of Del Taco Restaurants in a research note on Tuesday, January 9th. Finally, BTIG Research lowered their target price on shares of Del Taco Restaurants from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Del Taco Restaurants currently has an average rating of “Hold” and an average target price of $16.67.
In other Del Taco Restaurants news, SVP David Pear sold 9,260 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $12.25, for a total value of $113,435.00. Following the completion of the sale, the senior vice president now owns 115,412 shares of the company’s stock, valued at $1,413,797. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its holdings in shares of Del Taco Restaurants by 0.8% in the second quarter. Macquarie Group Ltd. now owns 100,182 shares of the restaurant operator’s stock valued at $1,378,000 after buying an additional 761 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Del Taco Restaurants by 43.2% in the second quarter. The Manufacturers Life Insurance Company now owns 25,872 shares of the restaurant operator’s stock valued at $356,000 after buying an additional 7,802 shares during the period. SG Americas Securities LLC acquired a new position in shares of Del Taco Restaurants in the third quarter valued at approximately $131,000. Jane Street Group LLC acquired a new position in shares of Del Taco Restaurants in the third quarter valued at approximately $158,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Del Taco Restaurants by 49.6% in the second quarter. New York State Common Retirement Fund now owns 35,300 shares of the restaurant operator’s stock valued at $485,000 after buying an additional 11,699 shares during the period. Institutional investors own 81.81% of the company’s stock.
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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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