Del Taco Restaurants (NASDAQ:TACO) Cut to “Hold” at Zacks Investment Research

Del Taco Restaurants (NASDAQ:TACO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Del Taco is the second largest Mexican-American QSR chain by units in the United States, serving more than three million guests each week. At Del Taco, menu items are made to order with fresh ingredients, including Cheddar cheese grated from 40-pound blocks, handmade pico de gallo salsa, lard-free beans slow-cooked from scratch, and marinated chicken grilled in the restaurant. The menu includes classic Mexican dishes such as tacos, burritos, quesadillas and nachos as well as American favorites including hamburgers, crinkle-cut fries and shakes. The company was founded on June 30, 2015 and is headquartered in Lake Forest, CA. “

TACO has been the subject of a number of other reports. Benchmark began coverage on shares of Del Taco Restaurants in a research report on Friday, November 12th. They set a “buy” rating and a $14.00 price objective for the company. Wedbush reaffirmed a “buy” rating and set a $15.00 price objective on shares of Del Taco Restaurants in a research report on Friday, October 15th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $13.00.

TACO opened at $8.08 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 0.49. Del Taco Restaurants has a 12-month low of $8.01 and a 12-month high of $11.99. The business has a 50 day moving average of $8.62 and a 200-day moving average of $9.25. The stock has a market cap of $294.05 million, a price-to-earnings ratio of 15.25 and a beta of 1.98.

Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings results on Thursday, October 14th. The restaurant operator reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Del Taco Restaurants had a return on equity of 9.43% and a net margin of 3.83%. During the same period in the previous year, the firm posted $0.16 EPS. As a group, analysts expect that Del Taco Restaurants will post 0.48 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of Del Taco Restaurants by 29.6% in the first quarter. Morgan Stanley now owns 241,013 shares of the restaurant operator’s stock valued at $2,309,000 after acquiring an additional 55,006 shares during the period. Man Group plc boosted its position in shares of Del Taco Restaurants by 45.9% in the first quarter. Man Group plc now owns 61,000 shares of the restaurant operator’s stock valued at $584,000 after acquiring an additional 19,200 shares during the period. Bel Air Investment Advisors LLC bought a new stake in shares of Del Taco Restaurants in the second quarter valued at about $501,000. LPL Financial LLC bought a new stake in shares of Del Taco Restaurants in the second quarter valued at about $128,000. Finally, Paloma Partners Management Co bought a new stake in shares of Del Taco Restaurants in the first quarter valued at about $149,000. 76.72% of the stock is owned by institutional investors.

Del Taco Restaurants Company Profile

Del Taco Restaurants, Inc engages in developing, franchising, owning, and operating dining place. It features made-to-order cuisine both Mexican inspired and American classic dishes. Its menu includes tacos and burritos, Double Del cheeseburgers, crinkle-cut fries, and milkshakes. The company was founded by Ed Hackbarth and David Jameson in 1964 and is headquartered in Lake Forest, CA.

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