Carrols Restaurant Group (NASDAQ:TAST) Hits New 12-Month High at $9.55

Carrols Restaurant Group, Inc. (NASDAQ:TAST) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.55 and last traded at $9.54, with a volume of 40857 shares traded. The stock had previously closed at $9.53.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Craig Hallum reaffirmed a “hold” rating on shares of Carrols Restaurant Group in a research report on Wednesday, January 17th. StockNews.com initiated coverage on shares of Carrols Restaurant Group in a research note on Thursday. They issued a “buy” rating on the stock. Truist Financial restated a “hold” rating and set a $9.55 price objective (down previously from $10.00) on shares of Carrols Restaurant Group in a report on Monday, January 22nd. Finally, Stephens reiterated an “equal weight” rating and set a $9.55 target price (down previously from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Carrols Restaurant Group presently has an average rating of “Hold” and a consensus target price of $8.87.

Carrols Restaurant Group Price Performance

The business’s 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $8.54. The stock has a market cap of $548.03 million, a price-to-earnings ratio of 18.33 and a beta of 2.48. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.49 and a quick ratio of 0.41.

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

Carrols Restaurant Group Dividend Announcement

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

Institutional Investors Weigh In On Carrols Restaurant Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in shares of Carrols Restaurant Group by 44.7% in the third quarter. Acadian Asset Management LLC now owns 859,120 shares of the restaurant operator’s stock valued at $5,660,000 after purchasing an additional 265,482 shares in the last quarter. Hillsdale Investment Management Inc. lifted its stake in Carrols Restaurant Group by 3.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 646,720 shares of the restaurant operator’s stock valued at $5,096,000 after acquiring an additional 21,900 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Carrols Restaurant Group by 181.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 460,177 shares of the restaurant operator’s stock worth $3,033,000 after acquiring an additional 296,473 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Carrols Restaurant Group in the third quarter valued at about $2,230,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Carrols Restaurant Group by 447,334.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 286,358 shares of the restaurant operator’s stock valued at $2,257,000 after purchasing an additional 286,294 shares in the last quarter. Institutional investors own 86.80% of the company’s stock.

About Carrols Restaurant Group

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.