Del Taco Restaurants Inc. (NASDAQ: TACO) Receives Price Target Increase at Citigroup Inc.

Del Taco Restaurants Inc. (NASDAQ: TACO) had its price target raised by equities researchers at Citigroup Inc. from $12.00 to $13.00. The company currently has a rating of Buy on the stock. A number of other analysts have spoken on the company in recent days, and the company has earned a consensus one-year price target of $14.21, higher than the opening price of $11.19, a difference of 12.89 percent. Del Taco Restaurants Inc. stock has a 52-week high of $15.18.

U.S. stocks finished sharply lower on Tuesday as equities amid a slump in energy shares and continued uncertainty about the Federal Reserve’s plans for monetary policy.

The Dow Jones Industrial Average DJIA, -1.41% closed 258.05 points, or 1.4%, lower at 18,066.89, and was down nearly 300 points at its lowest.

The S&P 500 index SPX, -1.48% gave up 32.02 points, or 1.5%, at 2,127.02.

Meanwhile, the Nasdaq Composite Index COMP, -1.09% fell 56.63 points, or 1.1%, at 5,155.25.

Usually, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.

Shares of Del Taco Restaurants Inc. (NASDAQ: TACO) opened at $11.19 yesterday and traded in a range between, $10.99 and $11.19, and last traded at $11.02, which represents a change of $ -0.18 over the previous closing price.

Del Taco Restaurants Inc. (NASDAQ: TACO) currently has a market cap of 418.50M

The stocks average daily volume is 406,710 shares out of a total float 25,640,000 and some 227,256 shares traded hands yesterday, 75 percent lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.

While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Del Taco Restaurants Inc. (NASDAQ: TACO) now has a 50-day MA is $10.79 and 200-day MA is $9.95, and it has traded in a 52-week range between $8.37 – 15.18 and today’s last price is -27.40 percent off the 52 week high of $15.18.

Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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