Zacks Investment Research Downgrades Carrols Restaurant Group Inc. (TAST) to Hold
Carrols Restaurant Group Inc. (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. restated a “buy” rating and set a $15.50 target price (up previously from $15.00) on shares of Carrols Restaurant Group in a research report on Tuesday, July 5th.
Carrols Restaurant Group (NASDAQ:TAST) opened at 13.18 on Tuesday. Carrols Restaurant Group has a 52 week low of $10.57 and a 52 week high of $14.80. The company’s 50-day moving average price is $13.21 and its 200 day moving average price is $13.10. The company has a market cap of $462.92 million, a PE ratio of 25.54 and a beta of -0.08.
Carrols Restaurant Group (NASDAQ:TAST) last posted its earnings results on Tuesday, August 9th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business earned $241.40 million during the quarter, compared to the consensus estimate of $244.61 million. Carrols Restaurant Group had a return on equity of 26.41% and a net margin of 2.83%. On average, analysts anticipate that Carrols Restaurant Group will post $0.59 EPS for the current year.
In other Carrols Restaurant Group news, VP Timothy Lalonde sold 4,000 shares of Carrols Restaurant Group stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $13.61, for a total value of $54,440.00. Following the completion of the transaction, the vice president now owns 96,053 shares in the company, valued at approximately $1,307,281.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.30% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Cove Street Capital LLC increased its position in shares of Carrols Restaurant Group by 23.3% in the second quarter. Cove Street Capital LLC now owns 2,528,229 shares of the company’s stock valued at $30,085,000 after buying an additional 477,037 shares during the last quarter. Numeric Investors LLC increased its position in shares of Carrols Restaurant Group by 33.2% in the second quarter. Numeric Investors LLC now owns 30,100 shares of the company’s stock valued at $358,000 after buying an additional 7,500 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Carrols Restaurant Group during the second quarter valued at about $832,000. Cubist Systematic Strategies LLC acquired a new position in shares of Carrols Restaurant Group during the second quarter valued at about $149,000. Finally, AQR Capital Management LLC increased its position in shares of Carrols Restaurant Group by 30.8% in the second quarter. AQR Capital Management LLC now owns 150,107 shares of the company’s stock valued at $1,786,000 after buying an additional 35,311 shares during the last quarter. Hedge funds and other institutional investors own 82.61% of the company’s stock.
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.
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