Carrols Restaurant Group (TAST) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Carrols Restaurant Group (NASDAQ:TAST) from a buy rating to a hold rating in a research report sent 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 analysts also recently weighed in on TAST. ValuEngine upgraded shares of Carrols Restaurant Group from a sell rating to a hold rating in a report on Friday, September 22nd. UBS Group downgraded shares of Carrols Restaurant Group from a strong-buy rating to an outperform rating in a report on Tuesday, September 26th. Raymond James Financial restated an outperform rating and set a $15.50 price objective on shares of Carrols Restaurant Group in a report on Tuesday, September 26th. Citigroup upped their price objective on shares of Carrols Restaurant Group from $13.00 to $15.00 and gave the stock a buy rating in a report on Monday, November 20th. Finally, BidaskClub downgraded shares of Carrols Restaurant Group from a hold rating to a sell rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Carrols Restaurant Group has an average rating of Hold and an average target price of $15.00.

Carrols Restaurant Group (NASDAQ TAST) opened at $12.30 on Wednesday. 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. The stock has a market cap of $442.94, a price-to-earnings ratio of 22.78, a P/E/G ratio of 4.65 and a beta of 0.18.

Carrols Restaurant Group (NASDAQ:TAST) last released 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 net margin of 3.13% and a return on equity of 4.61%. 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 firm earned $0.13 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. research analysts expect that Carrols Restaurant Group will post 0.13 earnings per share for the current fiscal year.

In related news, CFO Paul R. Flanders sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $12.80, for a total value of $32,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP William E. Myers sold 6,400 shares of the firm’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 transaction of $82,944.00. Following the completion of the sale, the vice president now directly owns 77,049 shares in the company, valued at $998,555.04. The disclosure for this sale can be found here. Insiders sold 58,900 shares of company stock valued at $767,944 over the last 90 days. 5.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TAST. Cambridge Investment Research Advisors Inc. raised its stake in shares of Carrols Restaurant Group by 37.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 50,300 shares of the restaurant operator’s stock worth $616,000 after acquiring an additional 13,746 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Carrols Restaurant Group by 48.0% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 300,816 shares of the restaurant operator’s stock worth $3,684,000 after acquiring an additional 97,600 shares in the last quarter. Royce & Associates LP raised its stake in shares of Carrols Restaurant Group by 147.8% during the second quarter. Royce & Associates LP now owns 327,774 shares of the restaurant operator’s stock worth $4,015,000 after acquiring an additional 195,500 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Carrols Restaurant Group by 4.3% during the second quarter. Vanguard Group Inc. now owns 1,469,067 shares of the restaurant operator’s stock worth $17,996,000 after acquiring an additional 60,027 shares in the last quarter. Finally, Formula Growth Ltd. raised its stake in shares of 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 acquiring an additional 25,000 shares in the last quarter. 88.48% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This article was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.com-unik.info/2017/12/28/carrols-restaurant-group-tast-lowered-to-hold-at-zacks-investment-research.html.

About Carrols Restaurant Group

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.

Receive News & Ratings for Carrols Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrols Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit