Maxim Group Reaffirms “Buy” Rating for Del Taco Restaurants (NASDAQ:TACO)

Del Taco Restaurants (NASDAQ:TACO)‘s stock had its “buy” rating reaffirmed by equities researchers at Maxim Group in a research report issued on Tuesday, May 7th, AnalystRatings.com reports. They presently have a $14.00 price target on the restaurant operator’s stock. Maxim Group’s price objective suggests a potential upside of 29.39% from the stock’s current price.

The analysts wrote, “We maintain our Buy rating and $14 price target on Del Taco (TACO) following yesterday’s mixed 1Q19 (March) earnings report.””

A number of other equities analysts have also weighed in on TACO. BidaskClub lowered Del Taco Restaurants from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Zacks Investment Research upgraded Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Friday, January 18th. Wedbush reiterated an “outperform” rating and issued a $15.00 price objective on shares of Del Taco Restaurants in a report on Friday, February 1st. Finally, ValuEngine cut Del Taco Restaurants from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.14.

Shares of NASDAQ:TACO traded down $0.17 during midday trading on Tuesday, reaching $10.82. 120,882 shares of the company traded hands, compared to its average volume of 257,994. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.24 and a current ratio of 0.28. Del Taco Restaurants has a 12 month low of $9.45 and a 12 month high of $14.83. The firm has a market cap of $399.79 million, a price-to-earnings ratio of 19.32, a PEG ratio of 1.39 and a beta of 0.19.

Del Taco Restaurants (NASDAQ:TACO) last announced its earnings results on Monday, May 6th. The restaurant operator reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $114.20 million during the quarter, compared to the consensus estimate of $114.22 million. Del Taco Restaurants had a return on equity of 4.75% and a net margin of 3.38%. Del Taco Restaurants’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Equities analysts predict that Del Taco Restaurants will post 0.5 EPS for the current fiscal year.

In other news, SVP David Pear sold 13,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $11.85, for a total value of $159,975.00. Following the completion of the transaction, the senior vice president now directly owns 118,210 shares in the company, valued at approximately $1,400,788.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC purchased a new stake in Del Taco Restaurants during the 1st quarter valued at about $42,000. Legal & General Group Plc lifted its holdings in Del Taco Restaurants by 24.1% in the 4th quarter. Legal & General Group Plc now owns 5,896 shares of the restaurant operator’s stock worth $58,000 after buying an additional 1,145 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Del Taco Restaurants by 412.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,380 shares of the restaurant operator’s stock worth $64,000 after buying an additional 5,136 shares during the period. Alta Capital Management LLC purchased a new stake in Del Taco Restaurants in the 1st quarter worth approximately $109,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Del Taco Restaurants in the 1st quarter worth approximately $110,000. Institutional investors own 80.17% 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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Analyst Recommendations for Del Taco Restaurants (NASDAQ:TACO)

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