Del Taco Restaurants (NASDAQ:TACO) Upgraded to “Strong-Buy” at BidaskClub
TACO has been the topic of a number of other research reports. ValuEngine cut shares of Del Taco Restaurants from a buy rating to a hold rating in a report on Monday, August 3rd. Wedbush raised their target price on shares of Del Taco Restaurants from $11.00 to $13.00 and gave the company an outperform rating in a research note on Wednesday, October 7th. CL King boosted their price target on Del Taco Restaurants from $11.00 to $13.00 and gave the stock a buy rating in a research report on Thursday, September 17th. Piper Sandler upped their price target on Del Taco Restaurants from $7.00 to $8.00 and gave the stock a neutral rating in a research note on Monday, September 14th. Finally, Zacks Investment Research upgraded Del Taco Restaurants from a hold rating to a buy rating and set a $10.00 price objective for the company in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $11.33.
Shares of NASDAQ TACO opened at $8.18 on Wednesday. Del Taco Restaurants has a 1 year low of $2.45 and a 1 year high of $10.43. The stock has a market capitalization of $305.32 million, a P/E ratio of -1.35, a P/E/G ratio of 2.21 and a beta of 1.76. The company’s 50-day moving average is $8.54 and its 200 day moving average is $6.70. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.27 and a quick ratio of 0.24.
In other Del Taco Restaurants news, Director Ari B. Levy acquired 23,760 shares of Del Taco Restaurants stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $7.45 per share, for a total transaction of $177,012.00. Following the acquisition, the director now owns 349,216 shares of the company’s stock, valued at $2,601,659.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ari B. Levy bought 16,750 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was acquired at an average cost of $7.29 per share, with a total value of $122,107.50. Following the transaction, the director now owns 325,456 shares in the company, valued at approximately $2,372,574.24. The disclosure for this purchase can be found here. Insiders purchased a total of 105,310 shares of company stock worth $829,255 over the last ninety days. 16.50% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TACO. Parametric Portfolio Associates LLC boosted its holdings in Del Taco Restaurants by 2,086.7% in the first quarter. Parametric Portfolio Associates LLC now owns 473,023 shares of the restaurant operator’s stock worth $1,622,000 after purchasing an additional 451,391 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Del Taco Restaurants in the 2nd quarter worth $2,496,000. Russell Investments Group Ltd. grew its holdings in shares of Del Taco Restaurants by 7.2% in the second quarter. Russell Investments Group Ltd. now owns 4,228,903 shares of the restaurant operator’s stock worth $25,077,000 after acquiring an additional 284,609 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Del Taco Restaurants during the second quarter valued at $1,552,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Del Taco Restaurants by 130.6% in the second quarter. Goldman Sachs Group Inc. now owns 247,681 shares of the restaurant operator’s stock valued at $1,469,000 after acquiring an additional 140,257 shares during the period. 67.28% of the stock is owned by hedge funds and other 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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