Del Taco Restaurants (NASDAQ:TACO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
TACO has been the subject of several other reports. Citigroup reduced their target price on Del Taco Restaurants from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. BidaskClub raised Del Taco Restaurants from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Maxim Group reiterated a “buy” rating and set a $19.00 price objective on shares of Del Taco Restaurants in a research note on Wednesday, September 26th. BTIG Research lowered Del Taco Restaurants from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research note on Wednesday, October 17th. Finally, ValuEngine lowered Del Taco Restaurants from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.75.
Shares of TACO stock opened at $10.81 on Wednesday. The firm has a market capitalization of $397.28 million, a P/E ratio of 20.79, a PEG ratio of 1.20 and a beta of 0.06. Del Taco Restaurants has a one year low of $9.45 and a one year high of $14.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.28 and a quick ratio of 0.24.
Del Taco Restaurants (NASDAQ:TACO) last issued its earnings results on Tuesday, October 16th. The restaurant operator reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $117.83 million during the quarter, compared to analysts’ expectations of $119.84 million. Del Taco Restaurants had a return on equity of 4.93% and a net margin of 9.81%. Del Taco Restaurants’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share. As a group, sell-side analysts predict that Del Taco Restaurants will post 0.56 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Del Taco Restaurants during the second quarter worth $111,000. PEAK6 Investments LLC acquired a new position in Del Taco Restaurants during the third quarter worth $128,000. Trexquant Investment LP acquired a new position in Del Taco Restaurants during the third quarter worth $163,000. Bank of Montreal Can raised its stake in Del Taco Restaurants by 6,440.5% during the third quarter. Bank of Montreal Can now owns 14,389 shares of the restaurant operator’s stock worth $170,000 after acquiring an additional 14,169 shares in the last quarter. Finally, Group One Trading L.P. raised its stake in Del Taco Restaurants by 150.5% during the third quarter. Group One Trading L.P. now owns 16,823 shares of the restaurant operator’s stock worth $199,000 after acquiring an additional 10,106 shares in the last quarter. Hedge funds and other institutional investors own 82.19% of the company’s stock.
Del Taco Restaurants Company Profile
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