Del Taco Restaurants (TACO) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Del Taco Restaurants (NASDAQ:TACO) from a hold rating to a sell rating in a research note released on Wednesday.

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. “

A number of other brokerages have also recently weighed in on TACO. BidaskClub upgraded shares of Del Taco Restaurants from a sell rating to a hold rating in a report on Thursday, August 23rd. ValuEngine cut shares of Del Taco Restaurants from a hold rating to a sell rating in a report on Friday, September 14th. Maxim Group restated a buy rating and issued a $19.00 price objective on shares of Del Taco Restaurants in a report on Wednesday, September 26th. Finally, BTIG Research cut shares of Del Taco Restaurants from a buy rating to a neutral rating and set a $14.00 price objective on the stock. in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $14.75.

Shares of TACO opened at $10.61 on Wednesday. The stock has a market capitalization of $408.23 million, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.24 and a current ratio of 0.28. Del Taco Restaurants has a fifty-two week low of $9.45 and a fifty-two week high of $14.83.

Del Taco Restaurants (NASDAQ:TACO) last announced its quarterly earnings data on Tuesday, October 16th. The restaurant operator reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The business had revenue of $117.83 million for the quarter, compared to analysts’ expectations of $119.84 million. Del Taco Restaurants had a net margin of 9.81% and a return on equity of 4.93%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. As a group, equities analysts predict that Del Taco Restaurants will post 0.56 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Del Taco Restaurants during the second quarter valued at approximately $111,000. PEAK6 Investments LLC purchased a new stake in shares of Del Taco Restaurants during the third quarter valued at approximately $128,000. Trexquant Investment LP purchased a new stake in shares of Del Taco Restaurants during the third quarter valued at approximately $163,000. Bank of Montreal Can grew its holdings in shares of Del Taco Restaurants by 6,440.5% during the third quarter. Bank of Montreal Can now owns 14,389 shares of the restaurant operator’s stock valued at $170,000 after buying an additional 14,169 shares during the last quarter. Finally, Group One Trading L.P. grew its holdings in shares of Del Taco Restaurants by 150.5% during the third quarter. Group One Trading L.P. now owns 16,823 shares of the restaurant operator’s stock valued at $199,000 after buying an additional 10,106 shares during the last quarter. Hedge funds and other institutional investors own 82.19% of the company’s stock.

About Del Taco Restaurants

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