Del Taco Restaurants, Inc. (TACO) Rating Lowered to Strong Sell at BidaskClub

Del Taco Restaurants, Inc. (NASDAQ:TACO) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday, August 5th.

A number of other analysts have also recently issued reports on TACO. Wedbush reissued a “buy” rating and set a $17.00 target price on shares of Del Taco Restaurants in a research note on Friday, May 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Del Taco Restaurants in a research note 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 target for the company in a research note on Wednesday, May 17th. Maxim Group reaffirmed a “buy” rating and set a $19.00 price target on shares of Del Taco Restaurants in a research note on Thursday, June 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 price target on shares of Del Taco Restaurants in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $15.57.

Shares of Del Taco Restaurants (NASDAQ:TACO) traded down 2.25% during midday trading on Friday, hitting $12.60. 200,855 shares of the stock were exchanged. The firm has a 50-day moving average price of $13.01 and a 200-day moving average price of $13.11. Del Taco Restaurants has a 12-month low of $10.41 and a 12-month high of $15.32. The company has a market cap of $487.44 million, a PE ratio of 22.18 and a beta of -0.21.

Del Taco Restaurants (NASDAQ:TACO) last posted its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The business had revenue of $108.60 million during the quarter, compared to analysts’ expectations of $107.08 million. During the same period in the prior year, the business earned $0.13 EPS. Del Taco Restaurants’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Del Taco Restaurants will post $0.55 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its stake in 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 last quarter. Voya Investment Management LLC acquired a new stake in shares of Del Taco Restaurants during the second quarter valued at about $165,000. American International Group Inc. increased its stake in shares of 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 valued at $189,000 after buying an additional 927 shares in the last quarter. Martingale Asset Management L P acquired a new stake in shares of Del Taco Restaurants during the second quarter valued at about $200,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Del Taco Restaurants during the second quarter valued at about $249,000. 65.78% of the stock is 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.

Analyst Recommendations for Del Taco Restaurants (NASDAQ:TACO)

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