Carrols Restaurant Group, Inc. (TAST) Receives Average Rating of “Hold” from Brokerages

Carrols Restaurant Group, Inc. (NASDAQ:TAST) has earned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $19.00.

A number of equities research analysts recently weighed in on TAST shares. ValuEngine downgraded shares of Carrols Restaurant Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Thursday. SunTrust Banks reaffirmed a “buy” rating and set a $19.00 price objective on shares of Carrols Restaurant Group in a research report on Wednesday, August 8th. BidaskClub downgraded shares of Carrols Restaurant Group from a “sell” rating to a “strong sell” rating in a research report on Thursday. Finally, Citigroup boosted their price objective on shares of Carrols Restaurant Group from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 13th.

Shares of TAST traded down $0.16 during midday trading on Monday, hitting $11.30. The company had a trading volume of 144,159 shares, compared to its average volume of 216,939. The company has a market capitalization of $421.66 million, a P/E ratio of 56.50, a PEG ratio of 1.71 and a beta of 0.51. Carrols Restaurant Group has a 52 week low of $10.00 and a 52 week high of $16.40. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94.

Carrols Restaurant Group (NASDAQ:TAST) last released its earnings results on Tuesday, November 6th. The restaurant operator reported $0.09 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $298.52 million. Carrols Restaurant Group had a net margin of 1.06% and a return on equity of 8.75%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. As a group, sell-side analysts expect that Carrols Restaurant Group will post 0.34 earnings per share for the current fiscal year.

In related news, VP William E. Myers sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $16.10, for a total transaction of $32,200.00. Following the completion of the sale, the vice president now owns 72,421 shares of the company’s stock, valued at approximately $1,165,978.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Paul R. Flanders sold 17,501 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $15.85, for a total transaction of $277,390.85. Following the sale, the chief financial officer now directly owns 323,312 shares of the company’s stock, valued at approximately $5,124,495.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,001 shares of company stock valued at $431,616. Insiders own 4.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Carrols Restaurant Group by 13.1% during the 3rd quarter. BlackRock Inc. now owns 3,279,129 shares of the restaurant operator’s stock valued at $47,876,000 after purchasing an additional 378,788 shares during the period. Dimensional Fund Advisors LP boosted its stake in Carrols Restaurant Group by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,357,716 shares of the restaurant operator’s stock valued at $35,012,000 after purchasing an additional 49,309 shares during the period. FMR LLC boosted its stake in Carrols Restaurant Group by 30.4% during the 2nd quarter. FMR LLC now owns 1,036,096 shares of the restaurant operator’s stock valued at $15,386,000 after purchasing an additional 241,400 shares during the period. Royce & Associates LP boosted its stake in Carrols Restaurant Group by 15.4% during the 2nd quarter. Royce & Associates LP now owns 913,431 shares of the restaurant operator’s stock valued at $13,564,000 after purchasing an additional 121,700 shares during the period. Finally, Portolan Capital Management LLC boosted its stake in Carrols Restaurant Group by 1,283.5% during the 2nd quarter. Portolan Capital Management LLC now owns 711,547 shares of the restaurant operator’s stock valued at $10,566,000 after purchasing an additional 660,116 shares during the period. 85.84% of the stock is owned by hedge funds and other institutional investors.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of July 1, 2018, it owned and operated 807 BURGER KING restaurants. The company was founded in 1960 and is headquartered in Syracuse, New York.

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