Carrols Restaurant Group (TAST) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Carrols Restaurant Group (NASDAQ:TAST) from a buy rating to a hold rating in a report issued on Wednesday 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. “

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Several other equities research analysts have also recently issued reports on TAST. BidaskClub cut shares of Carrols Restaurant Group from a hold rating to a sell rating in a research report on Wednesday, December 20th. ValuEngine cut shares of Carrols Restaurant Group from a hold rating to a sell rating in a research report on Friday, February 2nd. Citigroup decreased their price objective on shares of Carrols Restaurant Group from $16.00 to $15.00 and set a buy rating for the company in a research report on Monday, March 5th. Finally, Dougherty & Co reaffirmed a buy rating on shares of Carrols Restaurant Group in a research report on Sunday, March 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and an average target price of $15.00.

NASDAQ:TAST opened at $11.20 on Wednesday. The firm has a market capitalization of $409.24, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 2.15 and a beta of 0.13. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.75 and a quick ratio of 0.64. Carrols Restaurant Group has a 52 week low of $9.90 and a 52 week high of $14.45.

Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The business had revenue of $283.97 million during the quarter, compared to the consensus estimate of $274.59 million. Carrols Restaurant Group had a net margin of 0.66% and a return on equity of 5.58%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. sell-side analysts anticipate that Carrols Restaurant Group will post 0.26 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new stake in shares of Carrols Restaurant Group during the 4th quarter worth $212,000. Vident Investment Advisory LLC purchased a new stake in shares of Carrols Restaurant Group during the 4th quarter worth $499,000. Millennium Management LLC lifted its position in shares of Carrols Restaurant Group by 679.3% during the 4th quarter. Millennium Management LLC now owns 984,561 shares of the restaurant operator’s stock worth $11,962,000 after purchasing an additional 858,225 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Carrols Restaurant Group by 20,432.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,114 shares of the restaurant operator’s stock worth $147,000 after purchasing an additional 12,055 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Carrols Restaurant Group by 17.1% during the 4th quarter. Teachers Advisors LLC now owns 76,651 shares of the restaurant operator’s stock worth $931,000 after purchasing an additional 11,217 shares during the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.

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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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