Carrols Restaurant Group (NASDAQ: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 report released on Friday, Zacks.com reports.

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. “

Separately, Deutsche Bank started coverage on shares of Carrols Restaurant Group in a research note on Wednesday, September 4th. They issued a “buy” rating and a $9.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Carrols Restaurant Group currently has a consensus rating of “Hold” and an average target price of $12.50.

TAST stock opened at $8.39 on Friday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.32 and a quick ratio of 0.22. Carrols Restaurant Group has a one year low of $6.69 and a one year high of $15.10. The stock has a market cap of $384.70 million, a PE ratio of 27.97 and a beta of 0.54. The firm has a 50 day simple moving average of $8.04 and a two-hundred day simple moving average of $9.08.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07). Carrols Restaurant Group had a positive return on equity of 0.16% and a negative net margin of 0.77%. The company had revenue of $368.56 million during the quarter, compared to analysts’ expectations of $366.91 million. During the same period in the prior year, the firm earned $0.22 EPS. Carrols Restaurant Group’s quarterly revenue was up 21.6% on a year-over-year basis. On average, research analysts expect that Carrols Restaurant Group will post 0.04 EPS for the current fiscal year.

In other Carrols Restaurant Group news, Director Alexander R. Sloane acquired 13,315 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $7.54 per share, for a total transaction of $100,395.10. Following the acquisition, the director now owns 11,909 shares in the company, valued at approximately $89,793.86. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Richard G. Cross sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $8.63, for a total transaction of $125,998.00. Following the completion of the sale, the vice president now owns 185,698 shares of the company’s stock, valued at $1,602,573.74. The disclosure for this sale can be found here. 22.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning lifted its holdings in shares of Carrols Restaurant Group by 12.6% in the 2nd quarter. Creative Planning now owns 17,365 shares of the restaurant operator’s stock worth $157,000 after acquiring an additional 1,940 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Carrols Restaurant Group by 3.3% in the 2nd quarter. Swiss National Bank now owns 65,324 shares of the restaurant operator’s stock worth $590,000 after acquiring an additional 2,100 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Carrols Restaurant Group by 354.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 2,561 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Carrols Restaurant Group in the 2nd quarter worth approximately $27,000. Finally, Royal Bank of Canada lifted its holdings in shares of Carrols Restaurant Group by 12.8% in the 2nd quarter. Royal Bank of Canada now owns 35,291 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 4,016 shares during the last quarter. Hedge funds and other institutional investors own 74.00% of the company’s stock.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.

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