Carrols Restaurant Group (NASDAQ:TAST) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of Carrols Restaurant Group (NASDAQ:TAST) from a hold rating to a sell rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “Carrols Restaurant Group is the largest BURGER KING franchisee in the U.S., with over 800 restaurants and has operated BURGER KING restaurants since 1976. “

Separately, Deutsche Bank assumed coverage on shares of Carrols Restaurant Group in a report on Wednesday, September 4th. They set a buy rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Carrols Restaurant Group has a consensus rating of Hold and an average target price of $12.50.

Shares of NASDAQ TAST opened at $8.93 on Friday. Carrols Restaurant Group has a fifty-two week low of $6.69 and a fifty-two week high of $15.10. The company has a 50 day simple moving average of $7.98 and a two-hundred day simple moving average of $9.02. The company has a market capitalization of $371.83 million, a price-to-earnings ratio of 29.77 and a beta of 0.54. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.22 and a current ratio of 0.32.

Carrols Restaurant Group (NASDAQ:TAST) last announced its earnings results on Thursday, August 8th. The restaurant operator reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07). Carrols Restaurant Group had a negative net margin of 0.77% and a positive return on equity of 0.16%. The business had revenue of $368.56 million for the quarter, compared to the consensus estimate of $366.91 million. During the same period in the prior year, the business posted $0.22 EPS. Carrols Restaurant Group’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, analysts forecast that Carrols Restaurant Group will post 0.04 earnings per share for the current fiscal year.

In related news, Director Alexander R. Sloane bought 13,315 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $7.54 per share, for a total transaction of $100,395.10. Following the completion of the acquisition, the director now owns 11,909 shares of the company’s stock, valued at approximately $89,793.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard G. Cross sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $8.63, for a total transaction of $125,998.00. Following the completion of the sale, the vice president now owns 185,698 shares in the company, valued at approximately $1,602,573.74. The disclosure for this sale can be found here. Corporate insiders own 22.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of TAST. BNP Paribas Arbitrage SA boosted its holdings in Carrols Restaurant Group by 202.2% in the first quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the restaurant operator’s stock worth $72,000 after purchasing an additional 4,838 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Carrols Restaurant Group in the first quarter worth approximately $347,000. Victory Capital Management Inc. boosted its holdings in Carrols Restaurant Group by 20.8% in the first quarter. Victory Capital Management Inc. now owns 216,100 shares of the restaurant operator’s stock worth $2,155,000 after purchasing an additional 37,264 shares during the last quarter. IndexIQ Advisors LLC purchased a new stake in Carrols Restaurant Group in the first quarter worth approximately $1,576,000. Finally, Penn Capital Management Co. Inc. boosted its holdings in Carrols Restaurant Group by 31.0% in the first quarter. Penn Capital Management Co. Inc. now owns 369,915 shares of the restaurant operator’s stock worth $3,688,000 after purchasing an additional 87,551 shares during the last quarter. Institutional investors own 74.00% of the company’s stock.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.

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