Insider Selling: Carrols Restaurant Group, Inc. (TAST) CFO Sells 17,501 Shares of Stock

Carrols Restaurant Group, Inc. (NASDAQ:TAST) CFO Paul R. Flanders sold 17,501 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $15.85, for a total value of $277,390.85. Following the transaction, the chief financial officer now directly owns 323,312 shares of the company’s stock, valued at $5,124,495.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

TAST traded down $0.05 on Thursday, hitting $15.95. 151,900 shares of the company were exchanged, compared to its average volume of 264,467. Carrols Restaurant Group, Inc. has a 12 month low of $9.90 and a 12 month high of $16.30. The firm has a market capitalization of $568.18 million, a PE ratio of 79.75, a PEG ratio of 2.17 and a beta of 0.34. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC raised its holdings in Carrols Restaurant Group by 7.5% during the second quarter. Vident Investment Advisory LLC now owns 46,159 shares of the restaurant operator’s stock worth $685,000 after acquiring an additional 3,203 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Carrols Restaurant Group by 20.2% during the second quarter. Advisors Asset Management Inc. now owns 22,211 shares of the restaurant operator’s stock worth $214,000 after acquiring an additional 3,739 shares in the last quarter. Geode Capital Management LLC raised its holdings in Carrols Restaurant Group by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 305,569 shares of the restaurant operator’s stock worth $3,712,000 after acquiring an additional 4,393 shares in the last quarter. Barclays PLC raised its holdings in Carrols Restaurant Group by 79.3% during the first quarter. Barclays PLC now owns 11,605 shares of the restaurant operator’s stock worth $130,000 after acquiring an additional 5,131 shares in the last quarter. Finally, GW&K Investment Management LLC raised its holdings in Carrols Restaurant Group by 40.7% during the first quarter. GW&K Investment Management LLC now owns 22,875 shares of the restaurant operator’s stock worth $256,000 after acquiring an additional 6,615 shares in the last quarter. Institutional investors and hedge funds own 82.96% of the company’s stock.

Several research analysts have recently weighed in on TAST shares. ValuEngine cut Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th. SunTrust Banks started coverage on Carrols Restaurant Group in a research report on Wednesday, May 23rd. They set a “buy” rating and a $16.00 price objective for the company. Zacks Investment Research raised Carrols Restaurant Group from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, July 10th. BidaskClub raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Citigroup upped their price objective on Carrols Restaurant Group from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Carrols Restaurant Group has a consensus rating of “Buy” and a consensus price target of $17.63.

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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