Del Taco Restaurants’ (TACO) “Buy” Rating Reiterated at Maxim Group

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Maxim Group reissued their buy rating on shares of Del Taco Restaurants (NASDAQ:TACO) in a report issued on Tuesday. The brokerage currently has a $15.00 price objective on the restaurant operator’s stock.

“We maintain our Buy rating on Del Taco (TACO), though lower our price target to $15, from $16, following release of disappointing guidance after the release of final 4Q18 (December) results yesterday. TACO’s 4Q18 pro forma EPS were $0.18, below the $0.19 consensus. We reduce our 1Q19 (March) EPS estimate to $0.05, from $0.08 (vs. $0.07 consensus), and our 2019 (December) EPS estimate to $0.54, from $0.62 (vs. $0.58 consensus), as we now expect a negative comp in 1Q19, as well as higher SG&A spending and occupancy costs for the remainder of 2019. Although we lower our 2020 EPS estimate to $0.67, from $0.73 (vs. $0.65 consensus), our forecast represents a 24% jump in EPS driven by anticipated asset sales to franchisees, sustained comp growth, and cost savings.”,” Maxim Group’s analyst commented.

TACO has been the topic of several other research reports. Wedbush reaffirmed an outperform rating and set a $15.00 price target on shares of Del Taco Restaurants in a research note on Friday, February 1st. BidaskClub raised Del Taco Restaurants from a hold rating to a buy rating in a research note on Friday, January 25th. Zacks Investment Research raised Del Taco Restaurants from a sell rating to a hold rating in a research note on Saturday, December 15th. Finally, ValuEngine raised Del Taco Restaurants from a sell rating to a hold rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Del Taco Restaurants currently has an average rating of Hold and a consensus price target of $14.29.

Shares of TACO opened at $10.00 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.24 and a debt-to-equity ratio of 0.42. 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 $367.87 million, a PE ratio of 17.86, a PEG ratio of 1.24 and a beta of 0.20.

Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings results on Monday, March 18th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Del Taco Restaurants had a net margin of 3.75% and a return on equity of 5.12%. The firm had revenue of $157.30 million for the quarter, compared to analyst estimates of $157.01 million. During the same period last year, the company earned $0.15 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Del Taco Restaurants will post 0.5 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in TACO. Rothschild & Co. Asset Management US Inc. acquired a new position in Del Taco Restaurants in the third quarter valued at about $6,847,000. Boston Partners lifted its stake in Del Taco Restaurants by 138.3% in the fourth quarter. Boston Partners now owns 727,860 shares of the restaurant operator’s stock valued at $7,271,000 after buying an additional 422,453 shares during the period. Western Wealth Management LLC acquired a new position in Del Taco Restaurants in the fourth quarter valued at about $2,556,000. Thomson Horstmann & Bryant Inc. lifted its stake in Del Taco Restaurants by 72.7% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 439,486 shares of the restaurant operator’s stock valued at $5,190,000 after buying an additional 185,041 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Del Taco Restaurants by 11.4% in the third quarter. Renaissance Technologies LLC now owns 771,700 shares of the restaurant operator’s stock valued at $9,114,000 after buying an additional 79,200 shares during the period. 80.58% of the stock is currently owned by hedge funds and other institutional investors.

Del Taco Restaurants Company Profile

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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