Del Taco Restaurants, Inc. (TACO) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) from a buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Del Taco is the second largest Mexican-American QSR chain by units in the United States, serving more than three million guests each week. At Del Taco, menu items are made to order with fresh ingredients, including Cheddar cheese grated from 40-pound blocks, handmade pico de gallo salsa, lard-free beans slow-cooked from scratch, and marinated chicken grilled in the restaurant. The menu includes classic Mexican dishes such as tacos, burritos, quesadillas and nachos as well as American favorites including hamburgers, crinkle-cut fries and shakes. The company was founded on June 30, 2015 and is headquartered in Lake Forest, CA. “
Several other analysts also recently weighed in on the company. BidaskClub downgraded Del Taco Restaurants from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Piper Jaffray Companies reaffirmed a hold rating and set a $13.00 target price on shares of Del Taco Restaurants in a research note on Wednesday, July 26th. Maxim Group reaffirmed a buy rating and set a $19.00 target price on shares of Del Taco Restaurants in a research note on Thursday, June 22nd. Wedbush reaffirmed a buy rating and set a $17.00 target price on shares of Del Taco Restaurants in a research note on Monday, May 15th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $16.00 target price on shares of Del Taco Restaurants in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Del Taco Restaurants has an average rating of Hold and a consensus price target of $15.43.
Shares of Del Taco Restaurants (TACO) opened at 13.90 on Tuesday. The stock’s 50 day moving average is $12.90 and its 200-day moving average is $13.09. The firm has a market cap of $537.74 million, a PE ratio of 24.47 and a beta of -0.21. Del Taco Restaurants has a 52 week low of $10.75 and a 52 week high of $15.32.
Del Taco Restaurants (NASDAQ:TACO) last announced its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm 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 5.90% and a net margin of 4.81%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. On average, equities analysts predict that Del Taco Restaurants will post $0.55 EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC increased its stake in Del Taco Restaurants by 24.4% in the second quarter. Lord Abbett & CO. LLC now owns 742,868 shares of the restaurant operator’s stock worth $10,214,000 after buying an additional 145,736 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Del Taco Restaurants during the second quarter worth approximately $560,000. California State Teachers Retirement System increased its stake in Del Taco Restaurants by 28.1% in the second quarter. California State Teachers Retirement System now owns 58,409 shares of the restaurant operator’s stock worth $803,000 after buying an additional 12,800 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Del Taco Restaurants by 43.2% in the second quarter. The Manufacturers Life Insurance Company now owns 25,872 shares of the restaurant operator’s stock worth $356,000 after buying an additional 7,802 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Del Taco Restaurants during the second quarter worth approximately $249,000. 70.32% of the stock is currently owned by institutional investors.
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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