Zacks Investment Research downgraded shares of Carrols Restaurant Group Inc. (NASDAQ:TAST) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “CARROLS RESTAURANT GROUP, INC., operating through its subsidiaries, including Carrols Corporation, is one of the largest restaurant companies in the United States. The Company operates three restaurant brands in the quick-casual and quick-service restaurant segments with over five hundred company-owned and operated restaurants in 16 states, and several franchised restaurants in the United States, Puerto Rico and Ecuador. Carrols Restaurant Group owns and operates two Hispanic Brand restaurants, Pollo Tropical and Taco Cabana. It is also the largest Burger King franchisee, based on number of restaurants, and has operated Burger King restaurants since 1976. “
Separately, Citigroup Inc. reissued a buy rating and issued a $15.50 target price (up previously from $15.00) on shares of Carrols Restaurant Group in a research note on Tuesday, July 5th.
Shares of Carrols Restaurant Group (NASDAQ:TAST) traded down 0.54% during midday trading on Wednesday, hitting $12.92. 35,676 shares of the stock were exchanged. The company has a market cap of $453.79 million, a PE ratio of 25.04 and a beta of -0.17. The firm has a 50-day moving average price of $13.18 and a 200-day moving average price of $13.04. Carrols Restaurant Group has a 12-month low of $10.57 and a 12-month high of $14.80.
Carrols Restaurant Group (NASDAQ:TAST) last issued its earnings results on Tuesday, August 9th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. Carrols Restaurant Group had a net margin of 2.83% and a return on equity of 26.41%. The business had revenue of $241.40 million for the quarter, compared to the consensus estimate of $244.61 million. On average, equities analysts predict that Carrols Restaurant Group will post $0.59 EPS for the current year.
In related news, VP Timothy Lalonde sold 4,000 shares of Carrols Restaurant Group stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $13.61, for a total transaction of $54,440.00. Following the sale, the vice president now owns 96,053 shares of the company’s stock, valued at approximately $1,307,281.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Carrols Restaurant Group by 34.4% in the first quarter. Legal & General Group Plc now owns 7,062 shares of the company’s stock valued at $102,000 after buying an additional 1,807 shares during the period. Zacks Investment Management purchased a new stake in Carrols Restaurant Group during the second quarter valued at about $123,000. Cubist Systematic Strategies LLC purchased a new stake in Carrols Restaurant Group during the second quarter valued at about $149,000. Moors & Cabot Inc. increased its stake in Carrols Restaurant Group by 12.6% in the second quarter. Moors & Cabot Inc. now owns 12,841 shares of the company’s stock valued at $154,000 after buying an additional 1,441 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in Carrols Restaurant Group by 15.2% in the second quarter. Eqis Capital Management Inc. now owns 14,339 shares of the company’s stock valued at $171,000 after buying an additional 1,892 shares during the period. 82.61% of the stock is currently owned by hedge funds and other institutional investors.
Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc is a holding company. The Company conducts all of its operations through its direct and indirect subsidiaries. The Company operates in the hamburger category of the quick-service restaurant segment of the restaurant industry. The Company is a Burger King franchisee in the United States and operates its restaurants under the Burger King trade name.