Wedbush Comments on Del Taco Restaurants Inc.’s FY2016 Earnings (TACO)
Del Taco Restaurants Inc. (NASDAQ:TACO) – Research analysts at Wedbush dropped their FY2016 earnings estimates for shares of Del Taco Restaurants in a research note issued to investors on Monday. Wedbush analyst N. Setyan now forecasts that the brokerage will earn $0.55 per share for the year, down from their previous estimate of $0.56. Wedbush has a “Outperform” rating and a $17.00 price target on the stock. Wedbush also issued estimates for Del Taco Restaurants’ Q1 2017 earnings at $0.09 EPS, Q3 2017 earnings at $0.15 EPS and Q4 2017 earnings at $0.22 EPS.
Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings data on Monday, October 17th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm earned $104.42 million during the quarter, compared to analysts’ expectations of $101.61 million. Del Taco Restaurants had a return on equity of 4.79% and a net margin of 4.07%. The business’s revenue was up 27.3% on a year-over-year basis.
Several other research analysts also recently issued reports on TACO. Jefferies Group reaffirmed a “buy” rating and set a $14.00 price objective (down previously from $16.00) on shares of Del Taco Restaurants in a report on Thursday, July 21st. Zacks Investment Research cut shares of Del Taco Restaurants from a “hold” rating to a “sell” rating in a research report on Friday, July 1st. BTIG Research upped their target price on shares of Del Taco Restaurants from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Citigroup Inc. upped their target price on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Del Taco Restaurants presently has a consensus rating of “Buy” and a consensus price target of $14.17.
Del Taco Restaurants (NASDAQ:TACO) traded up 0.764% during mid-day trading on Wednesday, reaching $13.845. The company had a trading volume of 433,684 shares. The stock has a market cap of $525.78 million, a PE ratio of 34.185 and a beta of -0.01. The firm’s 50-day moving average price is $11.66 and its 200-day moving average price is $10.19. Del Taco Restaurants has a 12 month low of $8.37 and a 12 month high of $14.25.
Hedge funds have recently added to or reduced their stakes in the stock. Thomson Horstmann & Bryant Inc. boosted its stake in Del Taco Restaurants by 19.0% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 864,700 shares of the company’s stock worth $7,868,000 after buying an additional 137,850 shares in the last quarter. Rothschild Investment Corp IL boosted its stake in Del Taco Restaurants by 85.2% in the second quarter. Rothschild Investment Corp IL now owns 126,441 shares of the company’s stock worth $1,151,000 after buying an additional 58,175 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Del Taco Restaurants by 66.3% in the second quarter. Bank of New York Mellon Corp now owns 84,543 shares of the company’s stock worth $770,000 after buying an additional 33,696 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Del Taco Restaurants during the second quarter worth approximately $441,000. Finally, Frontier Capital Management Co. LLC boosted 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 in the last quarter. Institutional investors and hedge funds own 63.12% of the company’s stock.
In related news, SVP David Pear sold 6,000 shares of the company’s stock in a transaction 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 owns 125,080 shares in the company, valued at approximately $1,319,594. The transaction was disclosed in a filing with the SEC, which is available through this link. 36.20% of the stock is currently owned by corporate insiders.
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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