Carrols Restaurant Group (TAST) Downgraded by Zacks Investment Research to “Hold”

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Carrols Restaurant Group (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “Carrols Restaurant Group is the largest BURGER KING franchisee in the U.S., with over 800 restaurants and has operated BURGER KING restaurants since 1976. “

A number of other equities analysts also recently issued reports on TAST. SunTrust Banks started coverage on shares of Carrols Restaurant Group in a research note on Wednesday, May 23rd. They issued a “buy” rating and a $16.00 price target for the company. ValuEngine raised shares of Carrols Restaurant Group from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Citigroup raised their target price on shares of Carrols Restaurant Group from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Finally, BidaskClub raised shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Carrols Restaurant Group has an average rating of “Buy” and a consensus target price of $17.63.

TAST stock traded down $0.25 during trading on Friday, reaching $15.55. The company had a trading volume of 164,286 shares, compared to its average volume of 200,675. Carrols Restaurant Group has a 52 week low of $9.90 and a 52 week high of $16.40. The company has a market cap of $577.32 million, a P/E ratio of 77.75, a PEG ratio of 2.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.94 and a quick ratio of 0.83.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Tuesday, August 7th. The restaurant operator reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. Carrols Restaurant Group had a net margin of 1.00% and a return on equity of 8.53%. The company had revenue of $303.05 million during the quarter, compared to the consensus estimate of $301.21 million. equities research analysts expect that Carrols Restaurant Group will post 0.36 earnings per share for the current fiscal year.

In other Carrols Restaurant Group news, VP William E. Myers sold 18,300 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $15.57, for a total transaction of $284,931.00. Following the completion of the transaction, the vice president now owns 87,273 shares of the company’s stock, valued at $1,358,840.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul R. Flanders sold 18,138 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $15.67, for a total transaction of $284,222.46. Following the transaction, the chief financial officer now directly owns 341,450 shares of the company’s stock, valued at approximately $5,350,521.50. The disclosure for this sale can be found here. Insiders have sold 63,439 shares of company stock valued at $1,000,769 in the last ninety days. Insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TAST. Portolan Capital Management LLC increased its position in shares of Carrols Restaurant Group by 1,283.5% during the second quarter. Portolan Capital Management LLC now owns 711,547 shares of the restaurant operator’s stock valued at $10,566,000 after acquiring an additional 660,116 shares in the last quarter. Millennium Management LLC increased its position in shares of Carrols Restaurant Group by 42.4% during the first quarter. Millennium Management LLC now owns 1,402,472 shares of the restaurant operator’s stock valued at $15,708,000 after acquiring an additional 417,911 shares in the last quarter. BlackRock Inc. increased its position in shares of Carrols Restaurant Group by 13.7% during the second quarter. BlackRock Inc. now owns 2,900,341 shares of the restaurant operator’s stock valued at $43,069,000 after acquiring an additional 349,514 shares in the last quarter. Monarch Partners Asset Management LLC increased its position in shares of Carrols Restaurant Group by 372.2% during the second quarter. Monarch Partners Asset Management LLC now owns 320,640 shares of the restaurant operator’s stock valued at $4,762,000 after acquiring an additional 252,740 shares in the last quarter. Finally, FMR LLC increased its position in shares of Carrols Restaurant Group by 30.4% during the second quarter. FMR LLC now owns 1,036,096 shares of the restaurant operator’s stock valued at $15,386,000 after acquiring an additional 241,400 shares in the last quarter. 86.45% of the stock is owned by institutional investors.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King. As of December 31, 2017, it owned and operated 807 Burger King restaurants located in 17 states of the United States. The company was founded in 1960 and is headquartered in Syracuse, New York.

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