Carrols Restaurant Group Inc. (TAST) Downgraded by Zacks Investment Research to “Hold”
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 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. “
Separately, Citigroup Inc. reiterated a “buy” rating and set a $15.50 price objective (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 12.76 on Wednesday. The company has a market cap of $448.17 million, a PE ratio of 24.73 and a beta of -0.17. The company has a 50 day moving average of $13.19 and a 200 day moving average of $13.04. Carrols Restaurant Group has a 1-year low of $10.57 and a 1-year high of $14.80.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Carrols Restaurant Group had a net margin of 2.83% and a return on equity of 26.41%. The company earned $241.40 million during the quarter, compared to analysts’ expectations of $244.61 million. Equities analysts expect that Carrols Restaurant Group will post $0.59 earnings per share for the current fiscal year.
In other Carrols Restaurant Group news, VP Timothy Lalonde sold 4,000 shares of the firm’s 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 completion of the sale, the vice president now directly owns 96,053 shares in the company, valued at $1,307,281.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. First Manhattan Co. boosted its stake in Carrols Restaurant Group by 42.9% in the second quarter. First Manhattan Co. now owns 2,863,387 shares of the company’s stock worth $34,074,000 after buying an additional 859,472 shares during the last quarter. Cove Street Capital LLC boosted its stake in Carrols Restaurant Group by 23.3% in the second quarter. Cove Street Capital LLC now owns 2,528,229 shares of the company’s stock worth $30,085,000 after buying an additional 477,037 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Carrols Restaurant Group during the second quarter worth approximately $4,975,000. Renaissance Technologies LLC boosted its stake in 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 last quarter. Finally, Hartford Investment Management Co. boosted its stake in Carrols Restaurant Group by 173.9% in the second quarter. Hartford Investment Management Co. now owns 434,747 shares of the company’s stock worth $5,173,000 after buying an additional 276,031 shares during the last quarter. Institutional investors and hedge funds own 82.61% 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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