Balyasny Asset Management LLC lifted its position in Del Taco Restaurants, Inc. (NASDAQ:TACO) by 27.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,858 shares of the restaurant operator’s stock after acquiring an additional 92,058 shares during the quarter. Balyasny Asset Management LLC owned 1.11% of Del Taco Restaurants worth $5,911,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can raised its stake 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 valued at $135,000 after acquiring an additional 9,653 shares in the last quarter. Voya Investment Management LLC bought a new stake in Del Taco Restaurants during the 2nd quarter valued at $165,000. American International Group Inc. raised its stake 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 valued at $189,000 after acquiring an additional 927 shares in the last quarter. Martingale Asset Management L P bought a new stake in Del Taco Restaurants during the 2nd quarter valued at $200,000. Finally, AXA bought a new stake in Del Taco Restaurants during the 2nd quarter valued at $293,000. Institutional investors own 69.94% of the company’s stock.
TACO has been the topic of a number of research reports. Maxim Group reissued a “buy” rating and issued a $19.00 price objective on shares of Del Taco Restaurants in a research note on Thursday, June 22nd. Zacks Investment Research cut Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. BidaskClub cut Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $13.00 price target on shares of Del Taco Restaurants in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.00.
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Del Taco Restaurants, Inc. (TACO) opened at 15.51 on Wednesday. The firm has a 50-day moving average price of $14.83 and a 200 day moving average price of $13.55. Del Taco Restaurants, Inc. has a 12-month low of $11.58 and a 12-month high of $15.99. The firm has a market cap of $600.02 million, a PE ratio of 27.31 and a beta of -0.20.
Del Taco Restaurants (NASDAQ:TACO) last posted its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. Del Taco Restaurants had a net margin of 4.81% and a return on equity of 5.90%. The company had revenue of $108.60 million for the quarter, compared to analyst estimates of $107.08 million. During the same quarter in the prior year, the business posted $0.13 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Del Taco Restaurants, Inc. will post $0.55 EPS for the current year.
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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