Del Taco Restaurants (NASDAQ:TACO) Shares Gap Down on Analyst Downgrade

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Del Taco Restaurants Inc (NASDAQ:TACO)’s share price gapped down prior to trading on Wednesday after Wedbush lowered their price target on the stock from $13.00 to $11.00. The stock had previously closed at $7.22, but opened at $8.00. Wedbush currently has an outperform rating on the stock. Del Taco Restaurants shares last traded at $8.12, with a volume of 34,225 shares traded.

Several other research analysts have also recently weighed in on TACO. TheStreet cut shares of Del Taco Restaurants from a “b-” rating to a “c+” rating in a report on Thursday, October 3rd. Maxim Group reaffirmed a “buy” rating on shares of Del Taco Restaurants in a report on Wednesday, July 31st. BidaskClub cut shares of Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a report on Friday, September 20th. Finally, ValuEngine raised shares of Del Taco Restaurants from a “hold” rating to a “buy” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Del Taco Restaurants presently has an average rating of “Hold” and an average target price of $12.33.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in Del Taco Restaurants by 11.6% in the second quarter. Russell Investments Group Ltd. now owns 1,570,207 shares of the restaurant operator’s stock valued at $20,127,000 after acquiring an additional 163,611 shares during the last quarter. Renaissance Technologies LLC increased its stake in Del Taco Restaurants by 15.6% in the second quarter. Renaissance Technologies LLC now owns 825,100 shares of the restaurant operator’s stock valued at $10,578,000 after acquiring an additional 111,600 shares during the last quarter. Rothschild & Co. Asset Management US Inc. increased its stake in Del Taco Restaurants by 9.6% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 768,102 shares of the restaurant operator’s stock valued at $9,847,000 after acquiring an additional 67,573 shares during the last quarter. Boston Partners increased its stake in Del Taco Restaurants by 3.5% in the second quarter. Boston Partners now owns 754,041 shares of the restaurant operator’s stock valued at $9,667,000 after acquiring an additional 25,343 shares during the last quarter. Finally, Managed Asset Portfolios LLC bought a new position in Del Taco Restaurants in the second quarter valued at $7,440,000. 89.51% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market cap of $358.52 million, a P/E ratio of 14.59, a PEG ratio of 1.55 and a beta of 0.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.18 and a quick ratio of 0.14. The stock has a 50 day moving average of $10.20 and a 200 day moving average of $11.09.

Del Taco Restaurants (NASDAQ:TACO) last released its earnings results on Monday, October 21st. The restaurant operator reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). The firm had revenue of $120.20 million during the quarter, compared to the consensus estimate of $119.27 million. Del Taco Restaurants had a net margin of 0.29% and a return on equity of 4.09%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. On average, research analysts predict that Del Taco Restaurants Inc will post 0.5 EPS for the current fiscal year.

Del Taco Restaurants Company Profile (NASDAQ:TACO)

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of December 10, 2018, it operated approximately 560 restaurants across 14 states.

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