Del Taco Restaurants, Inc. (TACO) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) from a buy rating to a hold rating in a report issued on Tuesday, August 29th.

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. “

A number of other equities research analysts have also issued reports on TACO. Piper Jaffray Companies reaffirmed a hold rating and issued a $13.00 target price on shares of Del Taco Restaurants in a research note on Wednesday, July 26th. BidaskClub lowered Del Taco Restaurants from a sell rating to a strong sell rating in a research note on Sunday, July 30th. Wedbush reaffirmed a buy rating and issued a $17.00 target price on shares of Del Taco Restaurants in a research note on Monday, May 15th. Maxim Group reaffirmed a buy rating and issued a $19.00 target price on shares of Del Taco Restaurants in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $16.00 target price on shares of Del Taco Restaurants in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $16.17.

Del Taco Restaurants (NASDAQ:TACO) traded up 1.77% during mid-day trading on Tuesday, reaching $14.95. The company’s stock had a trading volume of 593,379 shares. The firm’s 50 day moving average is $13.36 and its 200-day moving average is $13.11. The company has a market cap of $578.36 million, a PE ratio of 26.32 and a beta of -0.22. Del Taco Restaurants has a 12-month low of $10.95 and a 12-month high of $15.32.

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

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Several institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in shares of Del Taco Restaurants by 0.8% in the 1st quarter. Wells Fargo & Company MN now owns 25,988 shares of the restaurant operator’s stock worth $345,000 after buying an additional 200 shares during the period. Macquarie Group Ltd. raised its position in shares of Del Taco Restaurants by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 100,182 shares of the restaurant operator’s stock worth $1,378,000 after buying an additional 761 shares during the period. American International Group Inc. raised its position in shares of Del Taco Restaurants by 7.0% in the 1st 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 during the period. OppenheimerFunds Inc. raised its position in shares of Del Taco Restaurants by 18.2% in the 1st quarter. OppenheimerFunds Inc. now owns 34,216 shares of the restaurant operator’s stock worth $454,000 after buying an additional 5,271 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Del Taco Restaurants by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 276,260 shares of the restaurant operator’s stock worth $3,663,000 after buying an additional 6,730 shares during the period. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.

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