Zacks Investment Research Upgrades Carrols Restaurant Group Inc. (TAST) to “Buy”
Carrols Restaurant Group Inc. (NASDAQ:TAST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $14.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 6.22% from the company’s previous close.
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. restated a “buy” rating and set a $15.50 price target (up 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) traded up 3.86% during mid-day trading on Wednesday, hitting $13.18. 364,119 shares of the stock were exchanged. The stock has a 50 day moving average price of $13.17 and a 200 day moving average price of $13.10. Carrols Restaurant Group has a 1-year low of $10.57 and a 1-year high of $14.80. The company has a market capitalization of $462.92 million, a PE ratio of 25.54 and a beta of -0.08.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $241.40 million for the quarter, compared to analysts’ expectations of $244.61 million. Carrols Restaurant Group had a return on equity of 26.41% and a net margin of 2.83%. On average, equities analysts anticipate 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 company’s stock in a transaction that occurred on Friday, September 2nd. The stock was 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Carrols Restaurant Group by 34.4% in the first quarter. Legal & General Group Plc now owns 7,062 shares of the company’s stock worth $102,000 after buying an additional 1,807 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Carrols Restaurant Group during the second quarter worth $123,000. Cubist Systematic Strategies LLC purchased a new position in shares of Carrols Restaurant Group during the second quarter worth $149,000. Moors & Cabot Inc. raised its position in shares of Carrols Restaurant Group by 12.6% in the second quarter. Moors & Cabot Inc. now owns 12,841 shares of the company’s stock worth $154,000 after buying an additional 1,441 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in shares of Carrols Restaurant Group during the first quarter worth $187,000. 82.61% of the stock is currently owned by institutional investors.
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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