Frontier Capital Management Co. LLC lifted its holdings in shares of Del Taco Restaurants, Inc. (NASDAQ:TACO) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,892,950 shares of the restaurant operator’s stock after purchasing an additional 40,230 shares during the period. Frontier Capital Management Co. LLC owned 4.89% of Del Taco Restaurants worth $29,038,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TACO. Bank of Montreal Can grew its holdings in shares of Del Taco Restaurants by 5,995.7% during the second quarter. Bank of Montreal Can now owns 9,814 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 9,653 shares during the last quarter. Voya Investment Management LLC purchased a new position in Del Taco Restaurants during the second quarter worth about $165,000. Victory Capital Management Inc. purchased a new position in Del Taco Restaurants in the third quarter valued at about $209,000. American International Group Inc. boosted its stake in 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 valued at $189,000 after acquiring an additional 927 shares during the last quarter. Finally, Martingale Asset Management L P purchased a new position in Del Taco Restaurants in the second quarter valued at about $200,000. 70.25% of the stock is owned by institutional investors and hedge funds.
Shares of Del Taco Restaurants, Inc. (NASDAQ TACO) traded down $0.22 during midday trading on Wednesday, reaching $11.82. 427,100 shares of the company’s stock traded hands, compared to its average volume of 384,006. Del Taco Restaurants, Inc. has a 1-year low of $11.58 and a 1-year high of $15.99. The company has a quick ratio of 0.24, a current ratio of 0.29 and a debt-to-equity ratio of 0.42. The company has a market cap of $465.67, a price-to-earnings ratio of 21.89, a PEG ratio of 1.34 and a beta of -0.27.
Del Taco Restaurants (NASDAQ:TACO) last announced its earnings results on Thursday, October 19th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Del Taco Restaurants had a return on equity of 5.89% and a net margin of 4.78%. The firm had revenue of $110.99 million for the quarter, compared to analyst estimates of $110.46 million. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue was up 6.3% on a year-over-year basis. research analysts expect that Del Taco Restaurants, Inc. will post 0.54 EPS for the current year.
In related news, Director Lawrence F. Levy bought 200,000 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was acquired at an average cost of $12.54 per share, with a total value of $2,508,000.00. Following the purchase, the director now directly owns 18,356 shares of the company’s stock, valued at $230,184.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 14.60% of the stock is owned by company insiders.
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A number of research analysts have weighed in on TACO shares. Zacks Investment Research upgraded shares of Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Saturday, September 16th. BidaskClub lowered shares of Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. TheStreet lowered shares of Del Taco Restaurants from a “b-” rating to a “c+” rating in a report on Friday, October 20th. Maxim Group reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Del Taco Restaurants in a research note on Friday, October 20th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Del Taco Restaurants in a research note on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.67.
About Del Taco Restaurants
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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