Carrols Restaurant Group, Inc. (TAST) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST) from a sell rating to a hold rating in a research note published on Thursday 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. “
A number of other equities research analysts also recently weighed in on TAST. ValuEngine raised shares of Carrols Restaurant Group from a sell rating to a hold rating in a research report on Friday, June 2nd. Dougherty & Co reaffirmed a buy rating and set a $17.00 price objective (down previously from $18.50) on shares of Carrols Restaurant Group in a research report on Friday, March 3rd.
Shares of Carrols Restaurant Group (TAST) opened at 12.90 on Thursday. Carrols Restaurant Group has a 52 week low of $9.60 and a 52 week high of $17.55. The firm has a market capitalization of $456.78 million and a PE ratio of 16.17. The stock has a 50 day moving average price of $12.88 and a 200 day moving average price of $14.12.
Carrols Restaurant Group (NASDAQ:TAST) last issued its earnings results on Tuesday, May 9th. The restaurant operator reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.06. Carrols Restaurant Group had a net margin of 3.93% and a return on equity of 10.18%. The company had revenue of $239.90 million during the quarter, compared to analyst estimates of $236.05 million. The business’s revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Carrols Restaurant Group will post $0.30 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Carrols Restaurant Group during the fourth quarter valued at approximately $4,736,000. Cadence Capital Management LLC purchased a new position in Carrols Restaurant Group during the fourth quarter valued at approximately $277,000. Bessemer Group Inc. boosted its position in Carrols Restaurant Group by 5.9% in the fourth quarter. Bessemer Group Inc. now owns 68,100 shares of the restaurant operator’s stock valued at $1,039,000 after buying an additional 3,800 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Carrols Restaurant Group by 18.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 18,290 shares of the restaurant operator’s stock valued at $279,000 after buying an additional 2,835 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Carrols Restaurant Group by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,676,459 shares of the restaurant operator’s stock valued at $25,566,000 after buying an additional 84,875 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.
About Carrols Restaurant Group
Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.
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