Maxim Group Thinks Del Taco Restaurants’ Stock is Going to Recover

By Carrie Williams

Maxim Group analyst Stephen Anderson reiterated a Buy rating on Del Taco Restaurants (NASDAQ: TACO) yesterday and set a price target of $20. The company’s shares closed yesterday at $12.10, close to its 52-week low of $11.58.

According to TipRanks.com, Anderson is a 5-star analyst with an average return of 9.5% and a 67.9% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Popeyes Louisiana Kitchen.

Currently, the analyst consensus on Del Taco Restaurants is Strong Buy and the average price target is $17.33, representing a 43.2% upside.

In a report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $15 price target.

Del Taco Restaurants’ market cap is currently $468M and has a P/E ratio of 21.61. The company has a book value ratio of 1.2236.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TACO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Del Taco Restaurants, Inc. engages in developing, franchising, owning, and operating Del Taco quick-service Mexican-American restaurants. The company was founded on June 30, 2015 and is headquartered in Lake Forest, CA