Zacks Investment Research Lowers Del Taco Restaurants (TACO) to Sell

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

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 weighed in on TACO. BidaskClub raised shares of Del Taco Restaurants from a hold rating to a buy rating in a report on Friday, January 25th. Maxim Group reissued a buy rating on shares of Del Taco Restaurants in a report on Wednesday, January 9th. ValuEngine raised shares of Del Taco Restaurants from a sell rating to a hold rating in a report on Tuesday. Finally, Wedbush reissued an outperform rating and set a $15.00 price objective on shares of Del Taco Restaurants in a report on Friday, February 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $14.29.

Shares of TACO stock opened at $9.90 on Wednesday. The firm has a market cap of $367.87 million, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.24 and a beta of 0.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.24 and a current ratio of 0.59. Del Taco Restaurants has a 12-month low of $9.45 and a 12-month high of $14.83.

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

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Del Taco Restaurants by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 384,048 shares of the restaurant operator’s stock valued at $3,836,000 after purchasing an additional 16,208 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Del Taco Restaurants in the fourth quarter valued at $2,556,000. Legal & General Group Plc boosted its holdings in Del Taco Restaurants by 24.1% in the fourth quarter. Legal & General Group Plc now owns 5,896 shares of the restaurant operator’s stock valued at $58,000 after purchasing an additional 1,145 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Del Taco Restaurants in the fourth quarter valued at $320,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Del Taco Restaurants by 415.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,250 shares of the restaurant operator’s stock valued at $112,000 after purchasing an additional 9,067 shares during the last quarter. 80.58% of the stock is currently owned by institutional investors.

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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