Del Taco Restaurants Inc. (TACO) Issues Earnings Results, Beats Expectations By $0.01 EPS
Del Taco Restaurants Inc. (NASDAQ:TACO) released its quarterly earnings results on Monday. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The business earned $104.42 million during the quarter, compared to the consensus estimate of $101.61 million. Del Taco Restaurants had a return on equity of 2.87% and a net margin of 2.56%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. Del Taco Restaurants updated its FY16 guidance to $0.53-0.56 EPS.
Del Taco Restaurants (NASDAQ:TACO) opened at 13.74 on Wednesday. The company has a 50-day moving average of $11.66 and a 200 day moving average of $10.19. The firm has a market cap of $521.79 million, a P/E ratio of 33.93 and a beta of -0.01. Del Taco Restaurants has a 52 week low of $8.37 and a 52 week high of $14.25.
Several research analysts have recently issued reports on TACO shares. 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. 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 research note on Saturday, July 23rd. BTIG Research lifted their price target on Del Taco Restaurants from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $15.00 price target on shares of Del Taco Restaurants in a research note 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 research note on Thursday, July 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.17.
In other news, SVP David Pear sold 6,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $10.55, for a total value of $63,300.00. Following the completion of the sale, the senior vice president now directly owns 125,080 shares of the company’s stock, valued at $1,319,594. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of TACO. Frontier Capital Management Co. LLC raised its stake in 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 period. BlackRock Fund Advisors raised its stake in Del Taco Restaurants by 7,518.2% in the second quarter. BlackRock Fund Advisors now owns 600,082 shares of the company’s stock worth $5,461,000 after buying an additional 592,205 shares during the period. Emerald Acquisition Ltd. bought a new stake in Del Taco Restaurants during the second quarter worth about $4,181,000. BlackRock Institutional Trust Company N.A. raised its stake in 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 period. Finally, State Street Corp raised its stake in Del Taco Restaurants by 667.7% in the second quarter. State Street Corp now owns 249,822 shares of the company’s stock worth $2,274,000 after buying an additional 217,279 shares during the period. 63.12% of the stock is owned by institutional investors and hedge funds.
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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