Carrols Restaurant Group (NASDAQ:TAST) Hits New 1-Year High at $9.54

Carrols Restaurant Group, Inc. (NASDAQ:TAST) shares hit a new 52-week high during trading on Friday . The stock traded as high as $9.54 and last traded at $9.53, with a volume of 208663 shares traded. The stock had previously closed at $9.52.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TAST shares. Craig Hallum restated a “hold” rating on shares of Carrols Restaurant Group in a report on Wednesday, January 17th. Truist Financial restated a “hold” rating and issued a $9.55 target price (down from $10.00) on shares of Carrols Restaurant Group in a report on Monday, January 22nd. Stephens restated an “equal weight” rating and issued a $9.55 target price (down from $13.00) on shares of Carrols Restaurant Group in a report on Tuesday, January 16th. Finally, StockNews.com started coverage on Carrols Restaurant Group in a report on Wednesday. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Carrols Restaurant Group currently has a consensus rating of “Hold” and a consensus target price of $8.87.

Carrols Restaurant Group Stock Performance

The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 2.28. The firm has a 50-day moving average price of $9.49 and a 200 day moving average price of $8.40. The firm has a market capitalization of $546.31 million, a PE ratio of 18.31 and a beta of 2.48.

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

Carrols Restaurant Group Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. increased its holdings in shares of Carrols Restaurant Group by 73.6% in the 4th quarter. Federated Hermes Inc. now owns 3,257 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 1,381 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Carrols Restaurant Group in the 3rd quarter valued at about $34,000. Tower Research Capital LLC TRC increased its holdings in shares of Carrols Restaurant Group by 15.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,274 shares of the restaurant operator’s stock valued at $65,000 after acquiring an additional 1,126 shares during the last quarter. AJOVista LLC purchased a new position in shares of Carrols Restaurant Group in the 4th quarter valued at about $76,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Carrols Restaurant Group in the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors own 86.80% of the company’s stock.

Carrols Restaurant Group Company Profile

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.