Del Taco Restaurants’ (TACO) “Buy” Rating Reaffirmed at Wedbush
Del Taco Restaurants Inc (NASDAQ:TACO)‘s stock had its “buy” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Wednesday.
Several other research analysts also recently commented on TACO. Zacks Investment Research upgraded Del Taco Restaurants from a “sell” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, May 17th. Maxim Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Del Taco Restaurants in a report on Thursday, June 22nd. BidaskClub downgraded Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $13.00 price objective on shares of Del Taco Restaurants in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $15.71.
Del Taco Restaurants (TACO) traded up 3.07% during midday trading on Wednesday, hitting $14.43. The company’s stock had a trading volume of 405,681 shares. The company has a market cap of $558.24 million, a PE ratio of 25.40 and a beta of -0.22. Del Taco Restaurants has a 52-week low of $10.92 and a 52-week high of $15.32. The stock has a 50 day moving average of $13.19 and a 200 day moving average of $13.07.
Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.13. The business had revenue of $108.60 million for the quarter, compared to the consensus estimate of $107.08 million. Del Taco Restaurants had a return on equity of 6.15% and a net margin of 4.91%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. On average, equities analysts expect that Del Taco Restaurants will post $0.55 EPS for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Del Taco Restaurants by 11.1% in the second quarter. FMR LLC now owns 4,685,160 shares of the restaurant operator’s stock worth $64,421,000 after buying an additional 467,077 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Del Taco Restaurants by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,943,765 shares of the restaurant operator’s stock worth $26,727,000 after purchasing an additional 340,701 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Del Taco Restaurants by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,851,486 shares of the restaurant operator’s stock worth $24,551,000 after purchasing an additional 55,672 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Del Taco Restaurants by 11.2% in the second quarter. Vanguard Group Inc. now owns 1,371,247 shares of the restaurant operator’s stock worth $18,854,000 after purchasing an additional 137,941 shares during the last quarter. Finally, ACK Asset Management LLC grew its stake in shares of Del Taco Restaurants by 7.0% in the first quarter. ACK Asset Management LLC now owns 1,119,900 shares of the restaurant operator’s stock worth $12,285,000 after purchasing an additional 73,421 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.
Del Taco Restaurants Company Profile
Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.
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