Carrols Restaurant Group (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. “

Several other research firms have also issued reports on TAST. Citigroup lifted their target price on Carrols Restaurant Group from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, November 20th. ValuEngine raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Raymond James Financial reissued an “outperform” rating and issued a $15.50 price target on shares of Carrols Restaurant Group in a report on Tuesday, September 26th. Finally, UBS downgraded Carrols Restaurant Group from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Carrols Restaurant Group currently has a consensus rating of “Buy” and an average target price of $15.25.

Shares of Carrols Restaurant Group (TAST) traded up $0.30 during trading on Wednesday, hitting $12.75. The stock had a trading volume of 265,900 shares, compared to its average volume of 256,279. The stock has a market capitalization of $450.18, a price-to-earnings ratio of 103.75, a P/E/G ratio of 4.67 and a beta of 0.18. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.85 and a current ratio of 0.95. Carrols Restaurant Group has a 1 year low of $9.90 and a 1 year high of $17.55.

Carrols Restaurant Group (NASDAQ:TAST) last posted its earnings results on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). Carrols Restaurant Group had a net margin of 3.13% and a return on equity of 4.61%. The company had revenue of $258.24 million during the quarter, compared to analysts’ expectations of $277.00 million. During the same quarter last year, the firm earned $0.13 EPS. Carrols Restaurant Group’s revenue for the quarter was up 8.1% on a year-over-year basis. research analysts forecast that Carrols Restaurant Group will post 0.13 earnings per share for the current year.

In other news, CEO Daniel T. Accordino sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $13.06, for a total value of $653,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,147,860 shares in the company, valued at $14,991,051.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William E. Myers sold 6,400 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $12.96, for a total value of $82,944.00. Following the completion of the sale, the vice president now owns 77,049 shares of the company’s stock, valued at $998,555.04. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP boosted its stake in Carrols Restaurant Group by 165.2% during the third quarter. Susquehanna International Group LLP now owns 10,794 shares of the restaurant operator’s stock worth $118,000 after buying an additional 27,358 shares during the last quarter. California Public Employees Retirement System boosted its stake in Carrols Restaurant Group by 11.8% during the third quarter. California Public Employees Retirement System now owns 90,596 shares of the restaurant operator’s stock worth $987,000 after buying an additional 9,596 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Carrols Restaurant Group during the third quarter worth $133,000. Royce & Associates LP boosted its stake in Carrols Restaurant Group by 74.0% during the third quarter. Royce & Associates LP now owns 570,274 shares of the restaurant operator’s stock worth $6,216,000 after buying an additional 242,500 shares during the last quarter. Finally, Formula Growth Ltd. boosted its stake in Carrols Restaurant Group by 25.0% during the third quarter. Formula Growth Ltd. now owns 125,030 shares of the restaurant operator’s stock worth $1,363,000 after buying an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 88.48% of the company’s stock.

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Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.

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