Carrols Restaurant Group (TAST) Rating Lowered to Sell at Zacks Investment Research

Carrols Restaurant Group (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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. “

Other equities research analysts have also issued reports about the stock. Citigroup raised their price objective on shares of Carrols Restaurant Group from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 13th. SunTrust Banks restated a “buy” rating and set a $19.00 price objective on shares of Carrols Restaurant Group in a report on Wednesday, August 8th. ValuEngine lowered shares of Carrols Restaurant Group from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.33.

Shares of NASDAQ:TAST opened at $11.30 on Thursday. Carrols Restaurant Group has a 12 month low of $10.00 and a 12 month high of $16.40. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66. The firm has a market cap of $434.81 million, a P/E ratio of 56.50, a P/E/G ratio of 1.71 and a beta of 0.51.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Tuesday, November 6th. The restaurant operator reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Carrols Restaurant Group had a net margin of 1.06% and a return on equity of 8.75%. The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $298.52 million. During the same period last year, the business posted $0.08 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts predict that Carrols Restaurant Group will post 0.34 earnings per share for the current fiscal year.

In other Carrols Restaurant Group news, CFO Paul R. Flanders sold 7,500 shares of Carrols Restaurant Group stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $16.27, for a total value of $122,025.00. Following the sale, the chief financial officer now directly owns 305,811 shares in the company, valued at approximately $4,975,544.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul R. Flanders sold 17,501 shares of Carrols Restaurant Group stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $15.85, for a total transaction of $277,390.85. Following the completion of the sale, the chief financial officer now owns 323,312 shares in the company, valued at $5,124,495.20. The disclosure for this sale can be found here. Insiders sold a total of 27,001 shares of company stock worth $431,616 over the last quarter. Company insiders own 4.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. ClariVest Asset Management LLC acquired a new stake in Carrols Restaurant Group in the 3rd quarter valued at $107,000. Cubist Systematic Strategies LLC acquired a new stake in Carrols Restaurant Group in the 1st quarter valued at $115,000. Trexquant Investment LP acquired a new stake in Carrols Restaurant Group in the 2nd quarter valued at $162,000. Campbell & CO Investment Adviser LLC acquired a new stake in Carrols Restaurant Group in the 2nd quarter valued at $170,000. Finally, Macquarie Group Ltd. acquired a new stake in Carrols Restaurant Group in the 2nd quarter valued at $207,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of July 1, 2018, it owned and operated 807 BURGER KING restaurants. The company was founded in 1960 and is headquartered in Syracuse, New York.

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