Del Taco Restaurants Inc. (TACO) Updates FY16 Earnings Guidance
Del Taco Restaurants Inc. (NASDAQ:TACO) issued an update on its FY16 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.53-0.56 for the period, compared to the Thomson Reuters consensus estimate of $0.55. The company issued revenue guidance of $446-449 million, compared to the consensus revenue estimate of $446.83 million.
Shares of Del Taco Restaurants Inc. (NASDAQ:TACO) opened at 12.63 on Tuesday. Del Taco Restaurants Inc. has a 12 month low of $8.37 and a 12 month high of $14.56. The company’s 50 day moving average price is $11.58 and its 200 day moving average price is $10.16. The company has a market cap of $479.64 million, a price-to-earnings ratio of 31.19 and a beta of -0.01.
Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings data on Monday, October 17th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The company earned $104.42 million during the quarter, compared to analyst estimates of $101.61 million. Del Taco Restaurants had a return on equity of 2.87% and a net margin of 2.56%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, equities analysts expect that Del Taco Restaurants Inc. will post $0.55 EPS for the current fiscal year.
TACO has been the subject of several research analyst reports. Zacks Investment Research raised Del Taco Restaurants from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Saturday, July 23rd. Wedbush reaffirmed an outperform rating and set a $15.00 price target on shares of Del Taco Restaurants in a research note on Saturday. Citigroup Inc. lifted their price target on Del Taco Restaurants from $12.00 to $13.00 and gave the stock a buy rating in a research note on Tuesday, September 13th. 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 research note on Thursday, July 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $13.50.
In other news, SVP David Pear sold 6,000 shares of Del Taco Restaurants stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $10.55, for a total value of $63,300.00. Following the transaction, the senior vice president now owns 125,080 shares in the company, valued at $1,319,594. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 36.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Asset Management Inc. increased its position in Del Taco Restaurants by 33.2% in the second quarter. National Asset Management Inc. now owns 20,000 shares of the company’s stock valued at $182,000 after buying an additional 4,989 shares in the last quarter. A.R.T. Advisors LLC bought a new position in Del Taco Restaurants during the second quarter valued at approximately $110,000. State Street Corp increased its position in Del Taco Restaurants by 667.7% in the second quarter. State Street Corp now owns 249,822 shares of the company’s stock valued at $2,274,000 after buying an additional 217,279 shares in the last quarter. Keeley Asset Management Corp increased its position in Del Taco Restaurants by 22.3% in the second quarter. Keeley Asset Management Corp now owns 825,467 shares of the company’s stock valued at $7,512,000 after buying an additional 150,737 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in Del Taco Restaurants during the second quarter valued at approximately $196,000. Hedge funds and other institutional investors own 63.12% of the company’s stock.
Del Taco Restaurants Company Profile
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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