Zacks Investment Research upgraded shares of Del Taco Restaurants (NASDAQ:TACO) from a sell rating to a hold rating in a research report report published on Thursday 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. “
Other research analysts have also issued research reports about the stock. Citigroup cut their target price on shares of 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. Maxim Group reissued a buy rating and set a $19.00 target price on shares of Del Taco Restaurants in a research report on Wednesday, September 26th. Dougherty & Co set a $17.00 target price on shares of Del Taco Restaurants and gave the stock a buy rating in a research report on Wednesday, October 17th. BidaskClub raised shares of Del Taco Restaurants from a hold rating to a buy rating in a research report on Friday, October 26th. Finally, TheStreet lowered shares of Del Taco Restaurants from a b- rating to a c+ rating in a research report on Monday, October 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $14.75.
Del Taco Restaurants (NASDAQ:TACO) last released its earnings results on Tuesday, October 16th. The restaurant operator reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $117.83 million during the quarter, compared to analyst estimates of $119.84 million. Del Taco Restaurants had a net margin of 9.81% and a return on equity of 4.93%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. Equities analysts forecast that Del Taco Restaurants will post 0.56 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Putnam Investments LLC increased its stake in Del Taco Restaurants by 59.2% in the second quarter. Putnam Investments LLC now owns 151,641 shares of the restaurant operator’s stock valued at $2,150,000 after acquiring an additional 56,400 shares during the period. Boston Partners grew its stake in Del Taco Restaurants by 1.0% during the second quarter. Boston Partners now owns 401,990 shares of the restaurant operator’s stock worth $5,700,000 after buying an additional 3,920 shares during the last quarter. GSA Capital Partners LLP grew its stake in Del Taco Restaurants by 113.4% during the second quarter. GSA Capital Partners LLP now owns 38,771 shares of the restaurant operator’s stock worth $550,000 after buying an additional 20,603 shares during the last quarter. Thomson Horstmann & Bryant Inc. grew its stake in Del Taco Restaurants by 72.7% during the third quarter. Thomson Horstmann & Bryant Inc. now owns 439,486 shares of the restaurant operator’s stock worth $5,190,000 after buying an additional 185,041 shares during the last quarter. Finally, Emerald Advisers Inc. PA bought a new stake in Del Taco Restaurants during the second quarter worth about $3,344,000. 84.87% of the stock is currently owned by institutional investors and hedge funds.
About Del Taco Restaurants
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