Del Taco Restaurants, Inc. (TACO) Upgraded to Buy by Zacks Investment Research
Del Taco Restaurants, Inc. (NASDAQ:TACO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $14.00 price objective on the restaurant operator’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.24% from the stock’s previous close.
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. “
A number of other brokerages have also commented on TACO. BidaskClub lowered Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Piper Jaffray Companies reissued a “hold” rating and issued a $13.00 price target 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 reissued a “buy” rating and issued a $16.00 price objective on shares of Del Taco Restaurants in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.43.
Del Taco Restaurants (NASDAQ TACO) opened at 12.70 on Thursday. The firm has a market cap of $491.31 million, a PE ratio of 22.36 and a beta of -0.21. Del Taco Restaurants has a 12 month low of $10.75 and a 12 month high of $15.32. The firm’s 50-day moving average is $12.91 and its 200-day moving average is $13.08.
Del Taco Restaurants (NASDAQ:TACO) last released its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The firm had revenue of $108.60 million for the quarter, compared to analysts’ expectations of $107.08 million. During the same quarter in the previous year, the business posted $0.13 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Del Taco Restaurants will post $0.55 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Del Taco Restaurants by 11.1% in the second quarter. FMR LLC now owns 4,685,160 shares of the restaurant operator’s stock valued at $64,421,000 after buying an additional 467,077 shares during the period. Dimensional Fund Advisors LP boosted its position in 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 valued at $26,727,000 after buying an additional 340,701 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in 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 valued at $24,551,000 after buying an additional 55,672 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 valued at $18,854,000 after buying an additional 137,941 shares during the last quarter. Finally, ACK Asset Management LLC boosted its position in 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 valued at $12,285,000 after buying an additional 73,421 shares during the last quarter. 65.78% of the stock is currently owned by institutional investors and hedge funds.
About Del Taco Restaurants
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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