Carrols Restaurant Group (NASDAQ:TAST) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Carrols Restaurant Group (NASDAQ:TAST) in a report issued on Wednesday. The brokerage issued a buy rating on the restaurant operator’s stock.

Several other equities analysts have also commented on TAST. Truist Financial reissued a hold rating and issued a $9.55 target price (down from $10.00) on shares of Carrols Restaurant Group in a report on Monday, January 22nd. Stephens reissued an equal weight rating and issued a $9.55 target price (down from $13.00) on shares of Carrols Restaurant Group in a report on Tuesday, January 16th. Finally, Craig Hallum reissued a hold rating on shares of Carrols Restaurant Group in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Carrols Restaurant Group has an average rating of Hold and a consensus target price of $8.87.

Carrols Restaurant Group Price Performance

NASDAQ:TAST opened at $9.51 on Wednesday. Carrols Restaurant Group has a 52 week low of $3.67 and a 52 week high of $9.54. The firm has a market cap of $545.68 million, a price-to-earnings ratio of 18.29 and a beta of 2.48. The firm’s 50-day simple moving average is $9.49 and its 200 day simple moving average is $8.40. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.41 and a current ratio of 0.49.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Friday, March 8th. The restaurant operator reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Carrols Restaurant Group had a net margin of 1.80% and a return on equity of 19.41%. The business had revenue of $470.36 million for the quarter, compared to analyst estimates of $470.41 million. As a group, sell-side analysts predict that Carrols Restaurant Group will post 0.64 earnings per share for the current year.

Carrols Restaurant Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Monday, March 11th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, March 8th. Carrols Restaurant Group’s dividend payout ratio (DPR) is presently 15.38%.

Institutional Investors Weigh In On Carrols Restaurant Group

Several hedge funds and other institutional investors have recently made changes to their positions in TAST. SG Americas Securities LLC bought a new stake in shares of Carrols Restaurant Group during the 3rd quarter valued at approximately $104,000. Raymond James & Associates acquired a new stake in Carrols Restaurant Group during the 3rd quarter worth approximately $138,000. BluePath Capital Management LLC acquired a new stake in Carrols Restaurant Group during the 3rd quarter worth approximately $34,000. Panagora Asset Management Inc. boosted its position in Carrols Restaurant Group by 127.1% during the 3rd quarter. Panagora Asset Management Inc. now owns 53,295 shares of the restaurant operator’s stock worth $351,000 after buying an additional 29,824 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Carrols Restaurant Group by 181.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 460,177 shares of the restaurant operator’s stock worth $3,033,000 after buying an additional 296,473 shares during the period. 86.80% of the stock is owned by institutional investors.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates restaurants in the United States. It operates quick service restaurants as a franchisee under the Burger King and Popeyes brands in 23 Northeastern, Midwestern, Southcentral, and Southeastern states. The company was founded in 1960 and is headquartered in Syracuse, New York.