Del Taco Restaurants, Inc. (TACO) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) from a buy rating to a hold rating in a 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. “

TACO has been the topic of several other reports. Piper Jaffray Companies reiterated a hold rating and issued a $13.00 price target on shares of Del Taco Restaurants in a report on Wednesday, July 26th. BidaskClub downgraded Del Taco Restaurants from a sell rating to a strong sell rating in a report on Sunday, July 30th. Wedbush reiterated a buy rating and issued a $17.00 price target on shares of Del Taco Restaurants in a report on Wednesday. Finally, Maxim Group reiterated a buy rating and issued a $19.00 price target on shares of Del Taco Restaurants in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Del Taco Restaurants presently has an average rating of Buy and a consensus target price of $16.17.

Del Taco Restaurants (TACO) opened at 14.95 on Thursday. Del Taco Restaurants has a 1-year low of $10.95 and a 1-year high of $15.32. The stock has a market capitalization of $578.36 million, a PE ratio of 26.32 and a beta of -0.22. The stock’s 50 day moving average price is $13.36 and its 200 day moving average price is $13.11.

Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting the 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 the consensus estimate of $107.08 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Del Taco Restaurants will post $0.55 earnings per share for the current fiscal year.

WARNING: This story was posted by Equities Focus and is the sole property of of Equities Focus. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.equitiesfocus.com/2017/09/17/del-taco-restaurants-inc-taco-downgraded-by-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TACO. Bank of Montreal Can increased its holdings in Del Taco Restaurants by 5,995.7% during the 2nd quarter. Bank of Montreal Can now owns 9,814 shares of the restaurant operator’s stock worth $135,000 after purchasing an additional 9,653 shares during the period. Voya Investment Management LLC purchased a new position in Del Taco Restaurants during the 2nd quarter worth $165,000. American International Group Inc. increased its holdings in Del Taco Restaurants by 7.0% during the 1st quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock worth $189,000 after purchasing an additional 927 shares during the period. Martingale Asset Management L P purchased a new position in Del Taco Restaurants during the 2nd quarter worth $200,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Del Taco Restaurants during the 2nd quarter worth $249,000. Institutional investors own 70.32% of the company’s stock.

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.

Get a free copy of the Zacks research report on Del Taco Restaurants (TACO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Del Taco Restaurants (NASDAQ:TACO)

Receive News & Ratings for Del Taco Restaurants Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Del Taco Restaurants Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply