BidaskClub Lowers Carrols Restaurant Group (TAST) to Strong Sell

Carrols Restaurant Group (NASDAQ:TAST) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.

TAST has been the topic of several other reports. Zacks Investment Research upgraded Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, August 10th. SunTrust Banks reiterated a “buy” rating and set a $19.00 price target on shares of Carrols Restaurant Group in a research report on Wednesday, August 8th. Citigroup lifted their price target on Carrols Restaurant Group from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, ValuEngine cut Carrols Restaurant Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.33.

Shares of Carrols Restaurant Group stock opened at $11.30 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market cap of $434.81 million, a price-to-earnings ratio of 56.50, a price-to-earnings-growth ratio of 1.71 and a beta of 0.51. Carrols Restaurant Group has a 1-year low of $10.00 and a 1-year high of $16.40.

Carrols Restaurant Group (NASDAQ:TAST) last announced its earnings results on Tuesday, November 6th. The restaurant operator reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Carrols Restaurant Group had a return on equity of 8.75% and a net margin of 1.06%. The firm had revenue of $297.00 million for the quarter, compared to the consensus estimate of $298.52 million. During the same quarter in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts forecast that Carrols Restaurant Group will post 0.34 EPS for the current fiscal year.

In related news, CFO Paul R. Flanders sold 17,501 shares of Carrols Restaurant Group stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $15.85, for a total value of $277,390.85. Following the transaction, the chief financial officer now directly owns 323,312 shares in the company, valued at approximately $5,124,495.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul R. Flanders sold 7,500 shares of Carrols Restaurant Group stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $16.27, for a total value of $122,025.00. Following the completion of the transaction, the chief financial officer now owns 305,811 shares in the company, valued at $4,975,544.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,001 shares of company stock worth $431,616. 4.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. ClariVest Asset Management LLC acquired a new position in shares of Carrols Restaurant Group in the 3rd quarter worth $107,000. Cubist Systematic Strategies LLC acquired a new position in shares of Carrols Restaurant Group in the 1st quarter worth $115,000. Trexquant Investment LP acquired a new position in shares of Carrols Restaurant Group in the 2nd quarter worth $162,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Carrols Restaurant Group in the 2nd quarter worth $170,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Carrols Restaurant Group in the 2nd quarter worth $207,000. Institutional investors and hedge funds own 85.84% of the company’s stock.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of July 1, 2018, it owned and operated 807 BURGER KING restaurants. The company was founded in 1960 and is headquartered in Syracuse, New York.

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