Dougherty & Co Comments on Del Taco Restaurants Inc.’s Q4 2016 Earnings (TACO)
Del Taco Restaurants Inc. (NASDAQ:TACO) – Stock analysts at Dougherty & Co upped their Q4 2016 earnings per share estimates for shares of Del Taco Restaurants in a report issued on Tuesday. Dougherty & Co analyst J. Hamblin now expects that the brokerage will earn $0.22 per share for the quarter, up from their previous forecast of $0.21.
Del Taco Restaurants (NASDAQ:TACO) last issued its earnings results on Wednesday, July 20th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Del Taco Restaurants had a net margin of 2.56% and a return on equity of 2.87%. The company had revenue of $100 million for the quarter, compared to the consensus estimate of $100.06 million. The company’s quarterly revenue was up 2.5% compared to the same quarter last year.
Several other equities research analysts also recently issued reports on TACO. Citigroup Inc. raised their price target on Del Taco Restaurants from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Zacks Investment Research raised Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Saturday, July 23rd. Wedbush reaffirmed an “outperform” rating and set a $15.00 price target on shares of Del Taco Restaurants in a report on Saturday, September 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $14.00 price target (down previously from $16.00) on shares of Del Taco Restaurants in a report on Thursday, July 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.21.
Shares of Del Taco Restaurants (NASDAQ:TACO) opened at 11.91 on Wednesday. The firm has a market cap of $452.29 million, a P/E ratio of 29.41 and a beta of -0.01. Del Taco Restaurants has a 52 week low of $8.37 and a 52 week high of $14.56. The stock has a 50 day moving average of $11.30 and a 200 day moving average of $10.07.
Hedge funds and other institutional investors have recently modified their holdings of the company. Frontier Capital Management Co. LLC boosted its position in shares of Del Taco Restaurants by 594.1% in the second quarter. Frontier Capital Management Co. LLC now owns 1,459,099 shares of the company’s stock worth $13,278,000 after buying an additional 1,248,898 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Del Taco Restaurants during the second quarter worth approximately $4,181,000. Wedbush Securities Inc. boosted its position in shares of Del Taco Restaurants by 10.9% in the second quarter. Wedbush Securities Inc. now owns 15,630 shares of the company’s stock worth $142,000 after buying an additional 1,530 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Del Taco Restaurants during the second quarter worth approximately $1,097,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Del Taco Restaurants by 76.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 534,312 shares of the company’s stock worth $4,862,000 after buying an additional 231,094 shares during the last quarter. Institutional investors own 63.13% of the company’s stock.
In other Del Taco Restaurants news, SVP David Pear sold 6,000 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $10.55, for a total transaction of $63,300.00. Following the transaction, the senior vice president now owns 125,080 shares in the company, valued at approximately $1,319,594. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 36.20% of the company’s stock.
About Del Taco Restaurants
Del Taco Restaurants, Inc, formerly Levy Acquisition Corporation, is an operator and franchisor of restaurants featuring fresh and fast made-to-order cuisine, including both Mexican inspired and American classic dishes. The Company operates Del Taco restaurants in approximately 20 states, including over one franchised restaurant in Guam.
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