Del Taco Restaurants Inc. (TACO) Shares Up 2.9% on Earnings Beat
Del Taco Restaurants Inc. (NASDAQ:TACO) shares traded up 2.9% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $12.47 and last traded at $12.47, with a volume of 344,354 shares trading hands. The stock had previously closed at $12.12.
The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Del Taco Restaurants had a net margin of 4.07% and a return on equity of 4.79%. The company had revenue of $104.42 million for the quarter, compared to analysts’ expectations of $101.61 million. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year.
Several research analysts have recently commented on the stock. BTIG Research raised their target price on shares of Del Taco Restaurants from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research raised shares of Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Saturday, July 23rd. Jefferies Group reaffirmed a “buy” rating and set a $14.00 target price (down from $16.00) on shares of Del Taco Restaurants in a report on Thursday, July 21st. Wedbush reaffirmed an “outperform” rating and set a $17.00 target price (up from $15.00) on shares of Del Taco Restaurants in a report on Saturday. Finally, Citigroup Inc. raised their target price on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Del Taco Restaurants presently has a consensus rating of “Buy” and an average target price of $14.17.
In related 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 transaction of $63,300.00. Following the sale, 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 is accessible through this hyperlink. Corporate insiders own 36.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. A.R.T. Advisors LLC purchased a new stake in Del Taco Restaurants during the second quarter valued at about $110,000. American International Group Inc. purchased a new stake in Del Taco Restaurants during the second quarter valued at about $121,000. Wedbush Securities Inc. raised its stake in Del Taco Restaurants by 10.9% in the second quarter. Wedbush Securities Inc. now owns 15,630 shares of the company’s stock valued at $142,000 after buying an additional 1,530 shares in the last quarter. National Asset Management Inc. raised its stake 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. Finally, Rhumbline Advisers purchased a new stake in Del Taco Restaurants during the second quarter valued at about $196,000. Institutional investors and hedge funds own 63.12% of the company’s stock.
The stock has a market cap of $521.79 million, a price-to-earnings ratio of 33.93 and a beta of -0.01. The stock has a 50 day moving average of $11.66 and a 200-day moving average of $10.19.
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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