Carrols Restaurant Group Inc. (TAST) Stock Rating Lowered by 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 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. restated a “buy” rating and set a $15.50 price objective (up previously from $15.00) on shares of Carrols Restaurant Group in a research report on Tuesday, July 5th.
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Carrols Restaurant Group (NASDAQ:TAST) opened at 12.76 on Wednesday. The firm’s 50-day moving average price is $13.19 and its 200-day moving average price is $13.04. The company has a market cap of $448.17 million, a price-to-earnings ratio of 24.73 and a beta of -0.17. Carrols Restaurant Group has a 52-week low of $10.57 and a 52-week high of $14.80.
Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. The firm earned $241.40 million during the quarter, compared to analyst estimates 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 EPS for the current year.
In related news, VP Timothy Lalonde sold 4,000 shares of Carrols Restaurant Group stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $13.61, for a total value of $54,440.00. Following the completion of the transaction, 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 available at this hyperlink. 5.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its position in Carrols Restaurant Group by 18.4% in the first quarter. Prudential Financial Inc. now owns 244,500 shares of the company’s stock valued at $3,531,000 after buying an additional 38,038 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Carrols Restaurant Group by 2.0% in the first quarter. TIAA CREF Investment Management LLC now owns 217,968 shares of the company’s stock valued at $3,147,000 after buying an additional 4,234 shares in the last quarter. Renaissance Technologies LLC raised its position 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 valued at $17,823,000 after buying an additional 315,400 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in Carrols Restaurant Group by 3.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 21,800 shares of the company’s stock valued at $315,000 after buying an additional 700 shares in the last quarter. Finally, Aperio Group LLC raised its position in Carrols Restaurant Group by 20.3% in the first quarter. Aperio Group LLC now owns 22,760 shares of the company’s stock valued at $329,000 after buying an additional 3,834 shares in the last quarter. Institutional investors own 82.61% of the company’s stock.
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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