Carrols Restaurant Group (NASDAQ:TAST) Stock Price Down 9.5%

Carrols Restaurant Group Inc (NASDAQ:TAST)’s share price was down 9.5% during trading on Wednesday . The company traded as low as $7.42 and last traded at $7.47, approximately 679,816 shares changed hands during mid-day trading. An increase of 101% from the average daily volume of 338,645 shares. The stock had previously closed at $8.25.

A number of equities analysts have commented on TAST shares. Deutsche Bank started coverage on shares of Carrols Restaurant Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $9.00 target price for the company. Zacks Investment Research upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $12.50.

The company has a debt-to-equity ratio of 3.73, a current ratio of 0.32 and a quick ratio of 0.22. The stock has a market cap of $366.07 million, a price-to-earnings ratio of 22.67 and a beta of 0.55. The company’s fifty day moving average price is $7.82 and its 200-day moving average price is $8.82.

Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $368.56 million for the quarter, compared to analyst estimates of $366.91 million. During the same quarter last year, the company earned $0.22 EPS. The business’s revenue was up 21.6% compared to the same quarter last year. On average, sell-side analysts forecast that Carrols Restaurant Group Inc will post 0.04 earnings per share for the current fiscal year.

In other news, VP Richard G. Cross sold 14,600 shares of the company’s 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 transaction, the vice president now owns 185,698 shares in the company, valued at $1,602,573.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander R. Sloane acquired 13,315 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $7.54 per share, for a total transaction of $100,395.10. Following the acquisition, the director now owns 11,909 shares of the company’s stock, valued at $89,793.86. The disclosure for this purchase can be found here. Corporate insiders own 22.00% of the company’s stock.

A number of large investors have recently modified their holdings of TAST. BNP Paribas Arbitrage SA increased its holdings in Carrols Restaurant Group by 202.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the restaurant operator’s stock worth $72,000 after buying an additional 4,838 shares during the period. Continental Grain Co. acquired a new position in Carrols Restaurant Group in the 1st quarter worth approximately $1,012,000. Summit Global Investments increased its holdings in Carrols Restaurant Group by 22.8% in the 1st quarter. Summit Global Investments now owns 77,100 shares of the restaurant operator’s stock worth $769,000 after buying an additional 14,300 shares during the period. Formula Growth Ltd. increased its holdings in Carrols Restaurant Group by 9.5% in the 1st quarter. Formula Growth Ltd. now owns 115,030 shares of the restaurant operator’s stock worth $1,147,000 after buying an additional 10,000 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new position in Carrols Restaurant Group in the 1st quarter worth approximately $3,634,000. Institutional investors own 74.00% of the company’s stock.

About Carrols Restaurant Group (NASDAQ:TAST)

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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