ValuEngine Lowers Carrols Restaurant Group (TAST) to Sell

ValuEngine lowered shares of Carrols Restaurant Group (NASDAQ:TAST) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other research firms have also commented on TAST. Zacks Investment Research upgraded shares of Carrols Restaurant Group from a hold rating to a buy rating and set a $14.00 price target for the company in a research report on Thursday, December 21st. BidaskClub lowered shares of Carrols Restaurant Group from a sell rating to a strong sell rating in a research report on Wednesday. Finally, Citigroup boosted their price target on shares of Carrols Restaurant Group from $13.00 to $15.00 and gave the company a buy rating in a research report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $15.00.

Carrols Restaurant Group (NASDAQ:TAST) traded up $0.30 on Friday, hitting $12.65. 305,011 shares of the stock were exchanged, compared to its average volume of 253,896. The stock has a market cap of $446.56, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.61 and a beta of 0.15. 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 has a 12-month low of $9.90 and a 12-month high of $17.55.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Wednesday, November 8th. The restaurant operator reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The firm had revenue of $258.24 million for the quarter, compared to analysts’ expectations of $277.00 million. Carrols Restaurant Group had a net margin of 3.13% and a return on equity of 4.61%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. research analysts forecast that Carrols Restaurant Group will post 0.17 earnings per share for the current year.

In related news, CFO Paul R. Flanders sold 2,500 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel T. Accordino sold 50,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $13.06, for a total transaction of $653,000.00. Following the completion of the transaction, the chief executive officer now owns 1,147,860 shares of the company’s stock, valued at $14,991,051.60. The disclosure for this sale can be found here. Insiders sold 58,900 shares of company stock valued at $767,944 over the last quarter. 5.60% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in TAST. Schwab Charles Investment Management Inc. grew its position in Carrols Restaurant Group by 12.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 142,764 shares of the restaurant operator’s stock worth $1,749,000 after acquiring an additional 15,655 shares in the last quarter. Bank of New York Mellon Corp grew its position in Carrols Restaurant Group by 11.2% in the second quarter. Bank of New York Mellon Corp now owns 184,680 shares of the restaurant operator’s stock worth $2,262,000 after acquiring an additional 18,611 shares in the last quarter. Wells Fargo & Company MN grew its position in Carrols Restaurant Group by 1.7% in the second quarter. Wells Fargo & Company MN now owns 37,703 shares of the restaurant operator’s stock worth $462,000 after acquiring an additional 618 shares in the last quarter. Alliancebernstein L.P. grew its position in Carrols Restaurant Group by 9.6% in the second quarter. Alliancebernstein L.P. now owns 36,400 shares of the restaurant operator’s stock worth $446,000 after acquiring an additional 3,200 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Carrols Restaurant Group by 0.3% in the second quarter. TIAA CREF Investment Management LLC now owns 194,142 shares of the restaurant operator’s stock worth $2,378,000 after acquiring an additional 590 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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