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 research note issued to investors 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. reiterated a “buy” rating and issued a $15.50 price target (up previously from $15.00) on shares of Carrols Restaurant Group in a report on Tuesday, July 5th.
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Carrols Restaurant Group (NASDAQ:TAST) opened at 12.87 on Tuesday. Carrols Restaurant Group has a 52-week low of $10.57 and a 52-week high of $14.80. The company’s 50-day moving average is $13.16 and its 200 day moving average is $13.11. The company has a market cap of $452.03 million, a price-to-earnings ratio of 24.94 and a beta of -0.08.
Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $241.40 million for the quarter, compared to analysts’ expectations of $244.61 million. Carrols Restaurant Group had a net margin of 2.83% and a return on equity of 26.41%. Equities analysts forecast that Carrols Restaurant Group will post $0.59 earnings per share for the current fiscal year.
In related news, VP Timothy Lalonde sold 4,000 shares of Carrols Restaurant Group stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $13.61, for a total value of $54,440.00. Following the sale, the vice president now owns 96,053 shares in the company, valued at $1,307,281.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake 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 boosted its stake 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 worth $3,495,000 after buying an additional 61,443 shares during the period. Geode Capital Management LLC boosted its stake 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 worth $3,509,000 after buying an additional 33,168 shares during the period. Nicholas Investment Partners LP acquired a new stake in shares of Carrols Restaurant Group during the first quarter worth approximately $666,000. Finally, PCJ Investment Counsel Ltd. boosted its stake 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 worth $818,000 after buying an additional 17,642 shares during the period. Hedge funds and other institutional investors own 83.05% of the company’s stock.
Carrols Restaurant Group Company Profile
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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