Zacks Investment Research lowered shares of Carrols Restaurant Group (NASDAQ:TAST) from a hold rating to a sell rating in a report published on Friday, Zacks.com reports.

According to Zacks, “Carrols Restaurant Group is the largest BURGER KING franchisee in the U.S., with over 800 restaurants and has operated BURGER KING restaurants since 1976. “

Separately, Deutsche Bank started coverage on shares of Carrols Restaurant Group in a research note on Wednesday, September 4th. They issued a buy rating and a $9.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Carrols Restaurant Group presently has an average rating of Hold and a consensus price target of $12.50.

Shares of NASDAQ TAST opened at $8.93 on Friday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.22 and a current ratio of 0.32. The company has a market cap of $371.83 million, a P/E ratio of 29.77 and a beta of 0.54. The firm’s fifty day moving average is $7.98 and its two-hundred day moving average is $9.02. Carrols Restaurant Group has a 52-week low of $6.69 and a 52-week high of $15.10.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). Carrols Restaurant Group had a positive return on equity of 0.16% and a negative net margin of 0.77%. The business had revenue of $368.56 million during the quarter, compared to analysts’ expectations of $366.91 million. During the same period in the previous year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, analysts forecast that Carrols Restaurant Group will post 0.04 EPS for the current fiscal year.

In related news, VP Richard G. Cross sold 14,600 shares of Carrols Restaurant Group stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $8.63, for a total transaction of $125,998.00. Following the completion of the transaction, the vice president now directly owns 185,698 shares of the company’s stock, valued at approximately $1,602,573.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexander R. Sloane purchased 13,315 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $7.54 per share, with a total value of $100,395.10. Following the completion of the purchase, the director now owns 11,909 shares in the company, valued at approximately $89,793.86. The disclosure for this purchase can be found here. Company insiders own 22.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in shares of Carrols Restaurant Group during the 2nd quarter worth about $27,000. Tower Research Capital LLC TRC boosted its stake in shares of Carrols Restaurant Group by 354.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 2,561 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Carrols Restaurant Group by 202.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the restaurant operator’s stock worth $72,000 after purchasing an additional 4,838 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Carrols Restaurant Group during the 2nd quarter worth about $90,000. Finally, Ardsley Advisory Partners LP purchased a new position in shares of Carrols Restaurant Group during the 2nd quarter worth about $91,000. 74.00% of the stock is owned by hedge funds and other institutional investors.

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.

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