Stock Traders Buy Large Volume of Del Taco Restaurants Put Options (TACO)

Del Taco Restaurants Inc (NASDAQ:TACO) was the target of unusually large options trading on Wednesday. Stock traders acquired 1,991 put options on the company. This represents an increase of 1,443% compared to the typical volume of 129 put options.

A number of equities analysts have recently weighed in on TACO shares. BidaskClub cut Del Taco Restaurants from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Maxim Group lowered their price target on Del Taco Restaurants from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. TheStreet raised Del Taco Restaurants from a “c+” rating to a “b-” rating in a research note on Wednesday, July 18th. Zacks Investment Research lowered Del Taco Restaurants from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, Citigroup decreased their target price on Del Taco Restaurants from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $14.75.

A number of hedge funds have recently bought and sold shares of TACO. SG Americas Securities LLC purchased a new position in shares of Del Taco Restaurants in the 2nd quarter valued at about $111,000. Trexquant Investment LP purchased a new position in shares of Del Taco Restaurants in the 3rd quarter valued at about $163,000. Bank of Montreal Can increased its holdings in shares of Del Taco Restaurants by 6,440.5% in the 3rd quarter. Bank of Montreal Can now owns 14,389 shares of the restaurant operator’s stock valued at $170,000 after acquiring an additional 14,169 shares during the last quarter. Group One Trading L.P. increased its holdings in shares of Del Taco Restaurants by 150.5% in the 3rd quarter. Group One Trading L.P. now owns 16,823 shares of the restaurant operator’s stock valued at $199,000 after acquiring an additional 10,106 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Del Taco Restaurants in the 2nd quarter valued at about $285,000. 78.00% of the stock is currently owned by institutional investors.

TACO stock traded up $0.19 during mid-day trading on Friday, reaching $11.75. The company had a trading volume of 584,358 shares, compared to its average volume of 865,498. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.28 and a quick ratio of 0.24. The firm has a market capitalization of $438.82 million, a P/E ratio of 22.60, a P/E/G ratio of 1.32 and a beta of 0.07. Del Taco Restaurants has a fifty-two week low of $9.45 and a fifty-two week high of $14.83.

Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings results on Tuesday, October 16th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $117.83 million for the quarter, compared to analyst estimates of $119.84 million. Del Taco Restaurants had a return on equity of 4.93% and a net margin of 9.81%. Del Taco Restaurants’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. On average, analysts expect that Del Taco Restaurants will post 0.56 EPS for the current year.

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Del Taco Restaurants Company Profile

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 January 2, 2018, it operated 312 company-operated and 252 franchise-operated Del Taco restaurants located in 14 states, including 1 franchise-operated unit in Guam.

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