Carrols Restaurant Group Inc. (TAST) Cut to “Hold” at Zacks Investment Research
Carrols Restaurant Group Inc. (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Separately, Citigroup Inc. reaffirmed a “buy” rating and set a $15.50 target price (up from $15.00) on shares of Carrols Restaurant Group in a research report on Tuesday, July 5th.
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Shares of Carrols Restaurant Group (NASDAQ:TAST) opened at 12.87 on Tuesday. The stock has a market capitalization of $452.03 million, a price-to-earnings ratio of 24.94 and a beta of -0.08. Carrols Restaurant Group has a 52 week low of $10.57 and a 52 week high of $14.80. The firm’s 50-day moving average is $13.16 and its 200-day moving average is $13.11.
Carrols Restaurant Group (NASDAQ:TAST) last issued its earnings results on Tuesday, August 9th. The company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.04. The business had revenue of $241.40 million for the quarter, compared to analyst estimates of $244.61 million. Carrols Restaurant Group had a net margin of 2.83% and a return on equity of 26.41%. Analysts forecast that Carrols Restaurant Group will post $0.59 earnings per share for the current fiscal year.
In other news, VP Timothy Lalonde sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $13.61, for a total transaction of $54,440.00. Following the transaction, the vice president now directly owns 96,053 shares of the company’s stock, valued at $1,307,281.33. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.
Several institutional investors have recently modified their holdings of TAST. Renaissance Technologies LLC raised its position in shares of Carrols Restaurant Group by 34.3% in the first quarter. Renaissance Technologies LLC now owns 1,234,300 shares of the company’s stock worth $17,823,000 after buying an additional 315,400 shares during the period. Bogle Investment Management L P DE raised its position in shares of Carrols Restaurant Group by 34.0% in the first quarter. Bogle Investment Management L P DE now owns 242,073 shares of the company’s stock valued at $3,495,000 after buying an additional 61,443 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Carrols Restaurant Group by 15.8% in the first quarter. Geode Capital Management LLC now owns 243,022 shares of the company’s stock valued at $3,509,000 after buying an additional 33,168 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in shares of Carrols Restaurant Group during the first quarter valued at about $666,000. Finally, PCJ Investment Counsel Ltd. raised its position in shares of Carrols Restaurant Group by 45.2% in the first quarter. PCJ Investment Counsel Ltd. now owns 56,676 shares of the company’s stock valued at $818,000 after buying an additional 17,642 shares during the last quarter. 83.05% of the stock is currently owned by institutional investors and hedge funds.
About Carrols Restaurant Group
Carrols Restaurant Group, Inc is a holding company. The Company conducts all of its operations through its direct and indirect subsidiaries. The Company operates in the hamburger category of the quick-service restaurant segment of the restaurant industry. The Company is a Burger King franchisee in the United States and operates its restaurants under the Burger King trade name.
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