Carrols Restaurant Group (NASDAQ:TAST) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Carrols Restaurant Group (NASDAQ:TAST) from a sell rating to a hold rating in a research report released on Wednesday, 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. “

TAST has been the subject of a number of other reports. BidaskClub upgraded shares of Carrols Restaurant Group from a sell rating to a hold rating in a research report on Wednesday, April 24th. Dougherty & Co reiterated a buy rating and set a $16.00 target price on shares of Carrols Restaurant Group in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Carrols Restaurant Group has an average rating of Buy and a consensus target price of $13.38.



TAST stock opened at $7.58 on Wednesday. The firm has a 50 day moving average of $8.84 and a 200-day moving average of $9.30. The company has a current ratio of 0.32, a quick ratio of 0.21 and a debt-to-equity ratio of 3.73. Carrols Restaurant Group has a 12 month low of $7.04 and a 12 month high of $16.40. The firm has a market capitalization of $316.37 million, a P/E ratio of 25.27 and a beta of 0.44.

Carrols Restaurant Group (NASDAQ:TAST) last released 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 negative net margin of 0.77% and a positive return on equity of 0.16%. The firm had revenue of $368.56 million during the quarter, compared to the consensus estimate of $366.91 million. During the same quarter last year, the business posted $0.22 earnings per share. Carrols Restaurant Group’s revenue was up 21.6% compared to the same quarter last year. Sell-side analysts predict that Carrols Restaurant Group will post 0.15 EPS for the current year.

In other Carrols Restaurant Group news, VP Richard G. Cross sold 14,600 shares of Carrols Restaurant Group stock in a transaction that occurred on 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 sale, the vice president now directly owns 185,698 shares in the company, valued at $1,602,573.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexander R. Sloane bought 11,709 shares of the company’s stock in a transaction on Monday, May 20th. The shares were bought at an average price of $8.56 per share, with a total value of $100,229.04. Following the completion of the transaction, the director now owns 5,258 shares of the company’s stock, valued at $45,008.48. The disclosure for this purchase can be found here. Insiders own 22.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Cooper Creek Partners Management LLC bought a new stake in shares of Carrols Restaurant Group in the 1st quarter worth approximately $3,634,000. Martingale Asset Management L P lifted its holdings in shares of Carrols Restaurant Group by 14.2% in the 1st quarter. Martingale Asset Management L P now owns 179,115 shares of the restaurant operator’s stock worth $1,786,000 after acquiring an additional 22,302 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Carrols Restaurant Group by 41.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,023 shares of the restaurant operator’s stock worth $339,000 after acquiring an additional 10,010 shares during the last quarter. Continental Grain Co. bought a new stake in shares of Carrols Restaurant Group in the 1st quarter worth approximately $1,012,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of Carrols Restaurant Group by 43.7% in the 4th quarter. Macquarie Group Ltd. now owns 5,264 shares of the restaurant operator’s stock worth $52,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 72.89% 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.

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