Carrols Restaurant Group (NASDAQ:TAST) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Carrols Restaurant Group (NASDAQ:TAST) from a hold rating to a sell rating in a research report released on Tuesday, BidAskClub reports.

TAST has been the subject of a number of other reports. Zacks Investment Research upgraded Carrols Restaurant Group from a sell rating to a hold rating in a research note on Friday, October 4th. Deutsche Bank began coverage on Carrols Restaurant Group in a research note on Wednesday, September 4th. They issued a buy rating and a $9.00 price target for the company. Two investment 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. The company currently has an average rating of Hold and a consensus price target of $12.50.

Shares of NASDAQ:TAST opened at $6.86 on Tuesday. The stock has a 50 day moving average of $7.73 and a 200 day moving average of $8.71. The company has a current ratio of 0.32, a quick ratio of 0.22 and a debt-to-equity ratio of 3.73. Carrols Restaurant Group has a 12-month low of $6.40 and a 12-month high of $14.66.

Carrols Restaurant Group (NASDAQ:TAST) last announced its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07). The company had revenue of $368.56 million for the quarter, compared to the consensus estimate of $366.91 million. Carrols Restaurant Group had a negative net margin of 0.77% and a positive return on equity of 0.16%. The company’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share.

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

Hedge funds have recently bought and sold shares of the business. Cooper Creek Partners Management LLC purchased a new stake in shares of Carrols Restaurant Group during the 1st quarter worth approximately $3,634,000. Spears Abacus Advisors LLC purchased a new stake in shares of Carrols Restaurant Group during the 2nd quarter worth approximately $230,000. Continental Grain Co. raised its holdings in shares of Carrols Restaurant Group by 1,278.8% during the 2nd quarter. Continental Grain Co. now owns 1,399,035 shares of the restaurant operator’s stock worth $12,633,000 after acquiring an additional 1,297,566 shares in the last quarter. Ardsley Advisory Partners LP purchased a new stake in shares of Carrols Restaurant Group during the 2nd quarter worth approximately $91,000. Finally, Creative Planning raised its holdings in shares of Carrols Restaurant Group by 12.6% during the 2nd quarter. Creative Planning now owns 17,365 shares of the restaurant operator’s stock worth $157,000 after acquiring an additional 1,940 shares in the last quarter. Institutional investors and hedge funds 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.

Further Reading: Outstanding Shares and The Effect on Share Price

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