Zacks Investment Research cut shares of Carrols Restaurant Group (NASDAQ:TAST) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “CARROLS RESTAURANT GROUP, INC., operating through its subsidiaries, including Carrols Corporation, is one of the largest restaurant companies in the United States. The Company operates three restaurant brands in the quick-casual and quick-service restaurant segments with over five hundred company-owned and operated restaurants in 16 states, and several franchised restaurants in the United States, Puerto Rico and Ecuador. Carrols Restaurant Group owns and operates two Hispanic Brand restaurants, Pollo Tropical and Taco Cabana. It is also the largest Burger King franchisee, based on number of restaurants, and has operated Burger King restaurants since 1976. “
Several other equities analysts have also recently weighed in on TAST. Citigroup increased their price target on Carrols Restaurant Group from $13.00 to $15.00 and gave the company a buy rating in a report on Monday, November 20th. Raymond James Financial reissued an outperform rating and set a $15.50 price target on shares of Carrols Restaurant Group in a report on Tuesday, September 26th. UBS cut Carrols Restaurant Group from a strong-buy rating to an outperform rating in a report on Tuesday, September 26th. Finally, ValuEngine raised Carrols Restaurant Group from a sell rating to a hold rating in a report on Friday, September 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Carrols Restaurant Group currently has a consensus rating of Buy and an average target price of $15.25.
Carrols Restaurant Group (NASDAQ TAST) traded up $0.20 during mid-day trading on Wednesday, reaching $12.95. The company had a trading volume of 138,900 shares, compared to its average volume of 255,790. The company has a market cap of $461.02, a PE ratio of 106.25, a PEG ratio of 4.78 and a beta of 0.18. Carrols Restaurant Group has a fifty-two week low of $9.90 and a fifty-two week high of $17.55. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.85.
Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). The business had revenue of $258.24 million during the quarter, compared to the consensus estimate of $277.00 million. Carrols Restaurant Group had a net margin of 3.13% and a return on equity of 4.61%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. analysts predict that Carrols Restaurant Group will post 0.13 EPS for the current year.
In other news, CEO Daniel T. Accordino sold 50,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $13.06, for a total transaction of $653,000.00. Following the transaction, the chief executive officer now directly owns 1,147,860 shares of the company’s stock, valued at approximately $14,991,051.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP William E. Myers sold 6,400 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $12.96, for a total value of $82,944.00. Following the transaction, the vice president now directly owns 77,049 shares in the company, valued at $998,555.04. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in shares of Carrols Restaurant Group by 2.3% in the 1st quarter. Teachers Advisors LLC now owns 70,489 shares of the restaurant operator’s stock worth $997,000 after purchasing an additional 1,573 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Carrols Restaurant Group by 8.0% in the 1st quarter. Geode Capital Management LLC now owns 295,352 shares of the restaurant operator’s stock worth $4,179,000 after purchasing an additional 21,949 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Carrols Restaurant Group by 6.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 127,109 shares of the restaurant operator’s stock worth $1,799,000 after purchasing an additional 7,695 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Carrols Restaurant Group by 2.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 25,414 shares of the restaurant operator’s stock worth $360,000 after purchasing an additional 543 shares in the last quarter. Finally, Aperio Group LLC increased its stake in shares of Carrols Restaurant Group by 9.2% in the 2nd quarter. Aperio Group LLC now owns 13,343 shares of the restaurant operator’s stock worth $163,000 after purchasing an additional 1,128 shares in the last quarter. 88.48% of the stock is currently owned by hedge funds and other institutional investors.
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Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.
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