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

Del Taco Restaurants Inc (NASDAQ:TACO)’s share price gapped down prior to trading on Wednesday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The stock had previously closed at $7.22, but opened at $8.00. Del Taco Restaurants shares last traded at $8.12, with a volume of 34,225 shares traded.

A number of other equities analysts have also recently issued reports on TACO. Maxim Group reiterated a “buy” rating on shares of Del Taco Restaurants in a research note on Wednesday, July 31st. TheStreet cut shares of Del Taco Restaurants from a “b-” rating to a “c+” rating in a research note on Thursday, October 3rd. BidaskClub cut shares of Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a research note on Friday, September 20th. Wedbush dropped their price target on shares of Del Taco Restaurants from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, ValuEngine upgraded shares of Del Taco Restaurants from a “hold” rating to a “buy” rating in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $12.33.

A number of institutional investors have recently made changes to their positions in TACO. Advisory Services Network LLC bought a new position in Del Taco Restaurants in the 2nd quarter worth about $45,000. Royal Bank of Canada increased its position in shares of Del Taco Restaurants by 545.7% during the 2nd quarter. Royal Bank of Canada now owns 3,422 shares of the restaurant operator’s stock valued at $45,000 after purchasing an additional 2,892 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Del Taco Restaurants during the 2nd quarter valued at about $61,000. Aperio Group LLC purchased a new stake in shares of Del Taco Restaurants during the 2nd quarter valued at about $61,000. Finally, Alta Capital Management LLC increased its position in shares of Del Taco Restaurants by 14.3% during the 3rd quarter. Alta Capital Management LLC now owns 12,400 shares of the restaurant operator’s stock valued at $126,000 after purchasing an additional 1,550 shares during the last quarter. Institutional investors own 89.51% of the company’s stock.

The stock has a market cap of $296.47 million, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.40 and a beta of 0.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.41. The company’s 50-day moving average price is $10.14 and its 200 day moving average price is $11.08.

Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings results on Monday, October 21st. The restaurant operator reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). Del Taco Restaurants had a net margin of 0.29% and a return on equity of 4.11%. The business had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $119.27 million. During the same period in the previous year, the company earned $0.15 EPS. Del Taco Restaurants’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Del Taco Restaurants Inc will post 0.46 earnings per share 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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