Carrols Restaurant Group Inc. (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. restated a “buy” rating and issued a $15.50 price objective (up from $15.00) on shares of Carrols Restaurant Group in a report on Tuesday, July 5th.
Shares of Carrols Restaurant Group (NASDAQ:TAST) opened at 12.84 on Wednesday. The stock has a market capitalization of $450.98 million, a price-to-earnings ratio of 24.88 and a beta of -0.17. The firm has a 50-day moving average of $13.16 and a 200 day moving average of $13.04. 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 quarterly earnings data on Tuesday, August 9th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. Carrols Restaurant Group had a net margin of 2.83% and a return on equity of 26.41%. The business had revenue of $241.40 million for the quarter, compared to analyst estimates of $244.61 million. Equities analysts forecast that Carrols Restaurant Group will post $0.59 earnings per share for the current fiscal year.
In related news, VP Timothy Lalonde sold 4,000 shares of Carrols Restaurant Group 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.30% of the company’s stock.
Large investors have recently made changes to their positions in the company. First Manhattan Co. raised its stake in shares of Carrols Restaurant Group by 42.9% in the second quarter. First Manhattan Co. now owns 2,863,387 shares of the company’s stock valued at $34,074,000 after buying an additional 859,472 shares in the last quarter. Cove Street Capital LLC raised its stake in shares of Carrols Restaurant Group by 23.3% in the second quarter. Cove Street Capital LLC now owns 2,528,229 shares of the company’s stock valued at $30,085,000 after buying an additional 477,037 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Carrols Restaurant Group by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,675,920 shares of the company’s stock valued at $19,943,000 after buying an additional 49,748 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Carrols Restaurant Group by 34.3% in the first quarter. Renaissance Technologies LLC now owns 1,234,300 shares of the company’s stock valued at $17,823,000 after buying an additional 315,400 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Carrols Restaurant Group by 30.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 851,095 shares of the company’s stock valued at $10,128,000 after buying an additional 199,660 shares in the last quarter. Hedge funds and other institutional investors own 82.61% of the company’s stock.
About Carrols Restaurant Group
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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