Zacks Investment Research upgraded shares of Carrols Restaurant Group Inc. (NASDAQ:TAST) from a hold rating to a buy rating in a research report report published on Thursday morning. The firm currently has $15.00 price objective on the stock.
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. “
Separately, Citigroup Inc. reiterated a buy rating and issued a $15.50 price objective (up from $15.00) on shares of Carrols Restaurant Group in a research report on Tuesday, July 5th.
Shares of Carrols Restaurant Group (NASDAQ:TAST) opened at 12.69 on Thursday. The stock has a 50 day moving average of $13.17 and a 200-day moving average of $13.10. The firm has a market capitalization of $445.71 million, a PE ratio of 24.59 and a beta of -0.08. Carrols Restaurant Group has a 12 month low of $10.57 and a 12 month high of $14.80.
Carrols Restaurant Group (NASDAQ:TAST) last announced its earnings results on Tuesday, August 9th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $241.40 million for the quarter, compared to analysts’ expectations of $244.61 million. Carrols Restaurant Group had a net margin of 2.83% and a return on equity of 26.41%. On average, equities research analysts anticipate that Carrols Restaurant Group will post $0.59 EPS for the current fiscal year.
In other Carrols Restaurant Group news, VP Timothy Lalonde sold 4,000 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $13.61, for a total transaction of $54,440.00. Following the sale, the vice president now directly owns 96,053 shares in the company, valued at approximately $1,307,281.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Carrols Restaurant Group by 34.4% in the first quarter. Legal & General Group Plc now owns 7,062 shares of the company’s stock valued at $102,000 after buying an additional 1,807 shares during the last quarter. Zacks Investment Management bought a new stake in shares of Carrols Restaurant Group during the second quarter valued at approximately $123,000. Cubist Systematic Strategies LLC bought a new stake in shares of Carrols Restaurant Group during the second quarter valued at approximately $149,000. Moors & Cabot Inc. raised its stake in shares of Carrols Restaurant Group by 12.6% in the second quarter. Moors & Cabot Inc. now owns 12,841 shares of the company’s stock valued at $154,000 after buying an additional 1,441 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its stake in shares of Carrols Restaurant Group by 15.2% in the second quarter. Eqis Capital Management Inc. now owns 14,339 shares of the company’s stock valued at $171,000 after buying an additional 1,892 shares during the last quarter. Institutional investors own 83.05% of the company’s stock.
Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc is a holding company. The Company conducts all of its operations through its direct and indirect subsidiaries. The Company operates in the hamburger category of the quick-service restaurant segment of the restaurant industry. The Company is a Burger King franchisee in the United States and operates its restaurants under the Burger King trade name.
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