Carrols Restaurant Group Inc. (TAST) Lowered to Hold at Zacks Investment Research
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 issued a $15.50 price target (up from $15.00) on shares of Carrols Restaurant Group in a research note on Tuesday, July 5th.
Shares of Carrols Restaurant Group (NASDAQ:TAST) opened at 12.76 on Wednesday. The firm has a 50 day moving average price of $13.13 and a 200-day moving average price of $13.00. The firm has a market capitalization of $448.17 million, a P/E ratio of 24.73 and a beta of -0.16. Carrols Restaurant Group has a 52 week low of $10.57 and a 52 week high of $14.80.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. Carrols Restaurant Group had a return on equity of 26.41% and a net margin of 2.83%. The firm had revenue of $241.40 million for the quarter, compared to the consensus estimate of $244.61 million. Equities research analysts predict that Carrols Restaurant Group will post $0.59 EPS for the current fiscal year.
In other Carrols Restaurant Group news, VP Timothy Lalonde sold 4,000 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $13.61, for a total transaction of $54,440.00. Following the sale, the vice president now directly owns 96,053 shares in the company, valued at $1,307,281.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.30% of the company’s stock.
Hedge funds have recently bought and sold shares of 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 worth $102,000 after buying an additional 1,807 shares during the last quarter. Zacks Investment Management bought a new position in Carrols Restaurant Group during the second quarter worth $123,000. Cubist Systematic Strategies LLC bought a new position in Carrols Restaurant Group during the second quarter worth $149,000. Moors & Cabot Inc. boosted its position in Carrols Restaurant Group by 12.6% in the second quarter. Moors & Cabot Inc. now owns 12,841 shares of the company’s stock worth $154,000 after buying an additional 1,441 shares during the period. Finally, Eqis Capital Management Inc. boosted its position 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 worth $171,000 after buying an additional 1,892 shares during the period. Institutional investors own 82.67% 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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