Zacks Investment Research upgraded shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) from a hold rating to a buy rating in a research report report published on Thursday morning. The firm currently has $14.00 target price on the restaurant operator’s stock.

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 research reports. Piper Jaffray Companies restated a hold rating and set a $13.00 price objective on shares of Del Taco Restaurants in a research report on Wednesday, July 26th. BidaskClub lowered Del Taco Restaurants from a sell rating to a strong sell rating in a research report on Sunday, July 30th. Wedbush restated a buy rating and set a $17.00 price objective on shares of Del Taco Restaurants in a research report on Monday, May 15th. Maxim Group restated a buy rating and set a $19.00 price objective on shares of Del Taco Restaurants in a research report on Thursday, June 22nd. Finally, Jefferies Group LLC restated a buy rating and set a $16.00 price objective on shares of Del Taco Restaurants in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $15.43.

Shares of Del Taco Restaurants (TACO) opened at 13.45 on Thursday. The stock’s 50 day moving average price is $12.90 and its 200-day moving average price is $13.09. The company has a market capitalization of $520.33 million, a P/E ratio of 23.68 and a beta of -0.21. Del Taco Restaurants has a 52-week low of $10.75 and a 52-week high of $15.32.

Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.13. The firm had revenue of $108.60 million during the quarter, compared to analyst estimates of $107.08 million. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, equities analysts expect that Del Taco Restaurants will post $0.55 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in TACO. Wells Fargo & Company MN increased its position in shares of Del Taco Restaurants by 0.8% in the first quarter. Wells Fargo & Company MN now owns 25,988 shares of the restaurant operator’s stock worth $345,000 after buying an additional 200 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Del Taco Restaurants by 0.8% in the second quarter. Macquarie Group Ltd. now owns 100,182 shares of the restaurant operator’s stock worth $1,378,000 after buying an additional 761 shares during the last quarter. American International Group Inc. increased its position in shares of Del Taco Restaurants by 7.0% in the first quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock worth $189,000 after buying an additional 927 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Del Taco Restaurants by 18.2% in the first quarter. OppenheimerFunds Inc. now owns 34,216 shares of the restaurant operator’s stock worth $454,000 after buying an additional 5,271 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Del Taco Restaurants by 2.5% in the first quarter. Geode Capital Management LLC now owns 276,260 shares of the restaurant operator’s stock worth $3,663,000 after buying an additional 6,730 shares during the last quarter. 65.78% of the stock is owned by hedge funds and other institutional investors.

Del Taco Restaurants Company Profile

Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.

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Analyst Recommendations for Del Taco Restaurants (NASDAQ:TACO)

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