Del Taco Restaurants (NASDAQ:TACO) Rating Reiterated by Wedbush

Del Taco Restaurants (NASDAQ:TACO)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report released on Tuesday, BenzingaRatingsTable reports. They currently have a $9.75 price objective on the restaurant operator’s stock, up from their prior price objective of $8.50. Wedbush’s target price would suggest a potential upside of 49.54% from the company’s previous close. Wedbush also issued estimates for Del Taco Restaurants’ FY2022 earnings at $0.46 EPS.

Several other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Del Taco Restaurants from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. Zacks Investment Research upgraded shares of Del Taco Restaurants from a “sell” rating to a “hold” rating in a research report on Wednesday, June 24th. Jefferies Financial Group boosted their price target on shares of Del Taco Restaurants from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, ValuEngine upgraded shares of Del Taco Restaurants from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Del Taco Restaurants currently has a consensus rating of “Buy” and a consensus price target of $9.92.

Shares of NASDAQ:TACO opened at $6.52 on Tuesday. The company has a market cap of $241.77 million, a PE ratio of -1.09, a P/E/G ratio of 9.31 and a beta of 1.72. The company’s 50-day moving average price is $6.34 and its 200 day moving average price is $6.06. Del Taco Restaurants has a fifty-two week low of $2.45 and a fifty-two week high of $12.89. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 2.17.

Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings data on Monday, May 4th. The restaurant operator reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The firm had revenue of $109.81 million for the quarter, compared to the consensus estimate of $105.64 million. Del Taco Restaurants had a negative net margin of 43.69% and a positive return on equity of 4.51%. As a group, equities analysts anticipate that Del Taco Restaurants will post 0.05 EPS for the current year.

In other Del Taco Restaurants news, Director Eileen A. Aptman bought 13,800 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $5.41 per share, for a total transaction of $74,658.00. Following the acquisition, the director now directly owns 59,311 shares of the company’s stock, valued at $320,872.51. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 16.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TACO. Russell Investments Group Ltd. raised its holdings in shares of Del Taco Restaurants by 27.7% in the 1st quarter. Russell Investments Group Ltd. now owns 3,944,294 shares of the restaurant operator’s stock worth $13,526,000 after purchasing an additional 856,254 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Del Taco Restaurants by 2,086.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 473,023 shares of the restaurant operator’s stock worth $1,622,000 after purchasing an additional 451,391 shares in the last quarter. UBS Group AG raised its holdings in shares of Del Taco Restaurants by 1,267.6% in the 4th quarter. UBS Group AG now owns 377,159 shares of the restaurant operator’s stock worth $2,981,000 after purchasing an additional 349,580 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Del Taco Restaurants by 147.0% in the 4th quarter. Prudential Financial Inc. now owns 404,779 shares of the restaurant operator’s stock worth $3,200,000 after purchasing an additional 240,901 shares in the last quarter. Finally, THB Asset Management increased its position in shares of Del Taco Restaurants by 32.0% in the first quarter. THB Asset Management now owns 602,444 shares of the restaurant operator’s stock worth $2,066,000 after acquiring an additional 146,044 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Del Taco Restaurants

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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