BidaskClub Downgrades Carrols Restaurant Group (TAST) to Strong Sell

Carrols Restaurant Group (NASDAQ:TAST) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Several other equities research analysts have also issued reports on the company. ValuEngine lowered Carrols Restaurant Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Citigroup set a $14.00 price target on Carrols Restaurant Group and gave the company a “buy” rating in a research report on Monday, November 12th. Raymond James dropped their price target on Carrols Restaurant Group from $16.50 to $13.50 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Zacks Investment Research lowered Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.88.

Shares of TAST opened at $9.74 on Friday. Carrols Restaurant Group has a 52-week low of $9.03 and a 52-week high of $16.40. The company has a market capitalization of $362.83 million, a price-to-earnings ratio of 48.70, a price-to-earnings-growth ratio of 1.16 and a beta of 0.56. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 1.60.

Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Tuesday, November 6th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $298.52 million. Carrols Restaurant Group had a return on equity of 8.62% and a net margin of 1.06%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Sell-side analysts expect that Carrols Restaurant Group will post 0.34 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of TAST. BlackRock Inc. grew its stake in Carrols Restaurant Group by 13.1% during the 3rd quarter. BlackRock Inc. now owns 3,279,129 shares of the restaurant operator’s stock worth $47,876,000 after buying an additional 378,788 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Carrols Restaurant Group by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,368,846 shares of the restaurant operator’s stock worth $34,585,000 after buying an additional 11,130 shares during the last quarter. Brown Advisory Inc. grew its stake in Carrols Restaurant Group by 3.1% during the 3rd quarter. Brown Advisory Inc. now owns 2,189,691 shares of the restaurant operator’s stock worth $31,970,000 after buying an additional 66,162 shares during the last quarter. Vanguard Group Inc. grew its stake in Carrols Restaurant Group by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,607,721 shares of the restaurant operator’s stock worth $23,473,000 after buying an additional 38,160 shares during the last quarter. Finally, Vanguard Group Inc grew its stake in Carrols Restaurant Group by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 1,607,721 shares of the restaurant operator’s stock worth $23,473,000 after buying an additional 38,160 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of July 1, 2018, it owned and operated 807 BURGER KING restaurants. The company was founded in 1960 and is headquartered in Syracuse, New York.

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