Carrols Restaurant Group (TAST) Upgraded at Zacks Investment Research
Carrols Restaurant Group (NASDAQ:TAST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $15.00 target price on the restaurant operator’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.38% from the stock’s previous close.
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. “
TAST has been the topic of several other research reports. UBS downgraded Carrols Restaurant Group from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, September 26th. Raymond James Financial restated an “outperform” rating and issued a $15.50 target price on shares of Carrols Restaurant Group in a research report on Tuesday, September 26th. Citigroup raised their target price on Carrols Restaurant Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, November 20th. ValuEngine downgraded Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Dougherty & Co decreased their target price on Carrols Restaurant Group from $18.50 to $15.50 and set a “buy” rating on the stock in a research report on Thursday, August 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $15.25.
Shares of Carrols Restaurant Group (NASDAQ TAST) opened at $13.00 on Wednesday. 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 1-year low of $9.90 and a 1-year high of $17.55. The company has a market capitalization of $468.26, a P/E ratio of 107.92, a price-to-earnings-growth ratio of 4.86 and a beta of 0.18.
Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.08 EPS for the quarter, missing the 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 business had revenue of $258.24 million during the quarter, compared to analyst estimates of $277.00 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’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 EPS for the current year.
In related news, VP William E. Myers sold 6,400 shares of Carrols Restaurant Group stock in a transaction that occurred 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 transaction, the vice president now owns 77,049 shares in the company, valued at $998,555.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Daniel T. Accordino sold 50,000 shares of Carrols Restaurant Group stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $13.06, for a total value of $653,000.00. Following the transaction, the chief executive officer now owns 1,147,860 shares in the company, valued at approximately $14,991,051.60. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in TAST. Brown Advisory Inc. lifted its position in Carrols Restaurant Group by 45.0% during the third quarter. Brown Advisory Inc. now owns 2,430,927 shares of the restaurant operator’s stock worth $26,497,000 after buying an additional 754,789 shares in the last quarter. Boston Partners purchased a new position in Carrols Restaurant Group during the third quarter worth approximately $4,581,000. Royce & Associates LP lifted its position 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 buying an additional 242,500 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Carrols Restaurant Group by 13.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,055,883 shares of the restaurant operator’s stock worth $25,185,000 after buying an additional 236,368 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Carrols Restaurant Group by 32.8% during the second quarter. Eagle Asset Management Inc. now owns 951,417 shares of the restaurant operator’s stock worth $11,654,000 after buying an additional 234,834 shares in the last quarter. Hedge funds and other institutional investors own 88.48% of the company’s stock.
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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