BidaskClub Downgrades Del Taco Restaurants, Inc. (TACO) to Sell

Del Taco Restaurants, Inc. (NASDAQ:TACO) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday, July 24th.

Other research analysts also recently issued research reports about the stock. Wedbush reissued a “buy” rating and issued a $17.00 price objective on shares of Del Taco Restaurants in a research report on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Del Taco Restaurants in a research report on Friday, May 5th. Zacks Investment Research raised shares of Del Taco Restaurants from a “sell” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, May 17th. Finally, Maxim Group reaffirmed a “buy” rating and set a $19.00 target price on shares of Del Taco Restaurants in a report on Thursday, June 22nd. One investment 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. The stock currently has an average rating of “Buy” and a consensus target price of $15.57.

Del Taco Restaurants (NASDAQ:TACO) opened at 12.60 on Monday. Del Taco Restaurants has a 12 month low of $10.55 and a 12 month high of $15.32. The company’s 50-day moving average price is $12.97 and its 200 day moving average price is $13.10. The stock has a market capitalization of $487.44 million, a PE ratio of 22.18 and a beta of -0.21.

Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Del Taco Restaurants had a net margin of 4.81% and a return on equity of 5.90%. The business had revenue of $108.60 million for the quarter, compared to analyst estimates of $107.08 million. During the same period last year, the business posted $0.13 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Del Taco Restaurants will post $0.55 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in shares of Del Taco Restaurants by 5,995.7% in the second quarter. Bank of Montreal Can now owns 9,814 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 9,653 shares during the period. Voya Investment Management LLC acquired a new position in shares of Del Taco Restaurants during the second quarter valued at about $165,000. American International Group Inc. raised its stake in Del Taco Restaurants by 7.0% in the first quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock worth $189,000 after buying an additional 927 shares in the last quarter. Martingale Asset Management L P purchased a new stake in Del Taco Restaurants during the second quarter worth approximately $200,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Del Taco Restaurants during the second quarter worth approximately $249,000. Institutional investors and hedge funds own 65.78% 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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