Del Taco Restaurants (NASDAQ:TACO)‘s stock had its “buy” rating reiterated by equities researchers at Maxim Group in a note issued to investors on Monday, January 8th. They currently have a $20.00 price target on the restaurant operator’s stock. Maxim Group’s price objective suggests a potential upside of 48.48% from the company’s previous close.
The analysts wrote, “We maintain our Buy rating and $20 price target on Del Taco (TACO) following management’s presentation at the ICR Conference in Orlando earlier today. Management indicated it was comfortable with 4Q17 (December) guidance, which implies about a +3% comp for the quarter. Management anticipates mid-single-digit comp growth and unit growth for 2018, as well as a “significant” benefit from a lower corporate tax rate. We maintain our EPS estimates of $0.19 for 4Q17, $0.55 for 2017, and $0.75 for 2018, though raise our 2019 EPS estimate to $0.82 (from $0.81) to reflect our outlook for accelerated share buybacks post-tax reform.””
A number of other analysts have also recently weighed in on the company. Zacks Investment Research upgraded Del Taco Restaurants from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Jefferies Group restated a “buy” rating and set a $15.00 target price on shares of Del Taco Restaurants in a report on Friday, December 22nd. TheStreet raised Del Taco Restaurants from a “c” rating to a “b-” rating in a research note on Wednesday, December 13th. BidaskClub lowered Del Taco Restaurants from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, Wedbush reissued a “buy” rating and issued a $17.00 target price on shares of Del Taco Restaurants in a research note on Friday, October 20th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.67.
Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings results on Thursday, October 19th. The restaurant operator reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $110.99 million during the quarter, compared to analyst estimates of $110.46 million. Del Taco Restaurants had a return on equity of 5.89% and a net margin of 4.78%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. equities research analysts predict that Del Taco Restaurants will post 0.54 EPS for the current year.
In other news, SVP David Pear sold 9,260 shares of Del Taco Restaurants stock in a transaction on Monday, December 11th. The stock was sold at an average price of $12.25, for a total value of $113,435.00. Following the transaction, the senior vice president now owns 115,412 shares in the company, valued at approximately $1,413,797. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lawrence F. Levy acquired 200,000 shares of Del Taco Restaurants stock in a transaction that occurred on Monday, October 23rd. The shares were purchased at an average price of $12.54 per share, for a total transaction of $2,508,000.00. Following the transaction, the director now directly owns 18,356 shares in the company, valued at $230,184.24. The disclosure for this purchase can be found here. Company insiders own 14.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in Del Taco Restaurants by 11.1% during the 2nd quarter. FMR LLC now owns 4,685,160 shares of the restaurant operator’s stock worth $64,421,000 after buying an additional 467,077 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Del Taco Restaurants by 17.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,288,964 shares of the restaurant operator’s stock worth $35,113,000 after buying an additional 345,199 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in Del Taco Restaurants by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,892,950 shares of the restaurant operator’s stock worth $29,038,000 after buying an additional 40,230 shares during the period. Vanguard Group Inc. lifted its holdings in Del Taco Restaurants by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,371,247 shares of the restaurant operator’s stock worth $18,854,000 after buying an additional 137,941 shares during the period. Finally, Peregrine Capital Management LLC lifted its holdings in Del Taco Restaurants by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,225,447 shares of the restaurant operator’s stock worth $18,798,000 after buying an additional 41,685 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.
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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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