The Del Taco Restaurants Inc. (TACO) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

The Del Taco Restaurants Inc. (TACO) Releases Quarterly  Earnings Results, Beats Estimates By $0.01 EPS

Del Taco Restaurants Inc. (NASDAQ:TACO) announced its earnings results on Monday. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Del Taco Restaurants had a net margin of 2.56% and a return on equity of 2.87%.

Shares of Del Taco Restaurants (NASDAQ:TACO) traded up 4.21% on Monday, hitting $12.63. 1,154,900 shares of the stock traded hands. The stock has a 50-day moving average price of $11.54 and a 200 day moving average price of $10.15. Del Taco Restaurants has a 12-month low of $8.37 and a 12-month high of $14.56. The stock has a market cap of $479.64 million, a price-to-earnings ratio of 31.19 and a beta of -0.01.

TACO has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Saturday, July 23rd. Wedbush restated an “outperform” rating and set a $15.00 target price on shares of Del Taco Restaurants in a research report on Saturday. Citigroup Inc. lifted their target price on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating and set a $14.00 target price (down previously from $16.00) on shares of Del Taco Restaurants in a research report on Thursday, July 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Del Taco Restaurants currently has a consensus rating of “Buy” and a consensus target price of $13.50.

In other news, SVP David Pear sold 6,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $10.55, for a total value of $63,300.00. Following the completion of the sale, the senior vice president now directly owns 125,080 shares of the company’s stock, valued at $1,319,594. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Del Taco Restaurants by 66.5% in the second quarter. Dimensional Fund Advisors LP now owns 376,589 shares of the company’s stock valued at $3,427,000 after buying an additional 150,441 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Del Taco Restaurants by 7.1% in the second quarter. Vanguard Group Inc. now owns 1,077,278 shares of the company’s stock valued at $9,803,000 after buying an additional 71,226 shares during the last quarter. BlackRock Investment Management LLC acquired a new position in shares of Del Taco Restaurants during the second quarter valued at $875,000. BlackRock Fund Advisors raised its position in shares of Del Taco Restaurants by 7,518.2% in the second quarter. BlackRock Fund Advisors now owns 600,082 shares of the company’s stock valued at $5,461,000 after buying an additional 592,205 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Del Taco Restaurants by 76.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 534,312 shares of the company’s stock valued at $4,862,000 after buying an additional 231,094 shares during the last quarter. 63.12% of the stock is currently owned by hedge funds and other institutional investors.

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