Zacks Investment Research upgraded shares of Carrols Restaurant Group (NASDAQ:TAST) from a hold rating to a buy rating in a research report report published on Wednesday. The firm currently has $15.00 price target on the restaurant operator’s stock.
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. “
A number of other equities research analysts also recently weighed in on the stock. Dougherty & Co dropped their price target on shares of Carrols Restaurant Group from $18.50 to $15.50 and set a buy rating for the company in a research note on Thursday, August 10th. Citigroup upped their target price on shares of 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 shares of Carrols Restaurant Group from a sell rating to a hold rating in a research note on Friday, September 22nd. Raymond James Financial reaffirmed an outperform rating and issued a $15.50 target price on shares of Carrols Restaurant Group in a research note on Tuesday, September 26th. Finally, UBS downgraded shares of Carrols Restaurant Group from a strong-buy rating to an outperform rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $15.25.
Shares of Carrols Restaurant Group (NASDAQ:TAST) traded down $0.35 during mid-day trading on Wednesday, hitting $12.65. 206,600 shares of the stock were exchanged, compared to its average volume of 257,412. Carrols Restaurant Group has a 12 month low of $9.90 and a 12 month high of $17.55. The firm has a market capitalization of $470.06, a price-to-earnings ratio of 108.33, a price-to-earnings-growth ratio of 4.88 and a beta of 0.18. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.85.
Carrols Restaurant Group (NASDAQ:TAST) last announced its earnings results on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). Carrols Restaurant Group had a return on equity of 4.61% and a net margin of 3.13%. The company had revenue of $258.24 million for the quarter, compared to analyst estimates of $277.00 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. Carrols Restaurant Group’s revenue for the quarter was up 8.1% on a year-over-year basis. equities research analysts anticipate 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 stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $13.06, for a total transaction of $653,000.00. Following the completion of the sale, the chief executive officer now owns 1,147,860 shares of the company’s stock, valued at $14,991,051.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William E. Myers sold 6,400 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $12.96, for a total transaction of $82,944.00. Following the sale, the vice president now directly owns 77,049 shares of the company’s stock, valued at approximately $998,555.04. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP increased its position in shares of 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 acquiring an additional 27,358 shares in the last quarter. California Public Employees Retirement System increased its position in shares of 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 acquiring an additional 9,596 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Carrols Restaurant Group during the third quarter worth $133,000. Royce & Associates LP boosted its holdings 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 purchasing an additional 242,500 shares during the last quarter. Finally, Formula Growth Ltd. boosted its holdings 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 purchasing an additional 25,000 shares during the last quarter. 88.48% of the stock is owned by institutional investors.
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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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