Carrols Restaurant Group (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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. “
Other research analysts also recently issued reports about the company. Citigroup reduced their price objective on Carrols Restaurant Group from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Dougherty & Co reissued a “buy” rating on shares of Carrols Restaurant Group in a research note on Sunday, March 4th. ValuEngine downgraded Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, BidaskClub downgraded Carrols Restaurant Group from a “sell” rating to a “strong sell” rating in a research note on Monday, February 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.00.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings data on Wednesday, February 28th. The restaurant operator reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Carrols Restaurant Group had a return on equity of 5.67% and a net margin of 0.66%. The firm had revenue of $283.97 million during the quarter, compared to the consensus estimate of $274.59 million. During the same period in the prior year, the company earned $0.04 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. analysts expect that Carrols Restaurant Group will post 0.26 earnings per share for the current fiscal year.
In related news, CFO Paul R. Flanders sold 2,500 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $12.80, for a total value of $32,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Carrols Restaurant Group in the 3rd quarter worth $104,000. Susquehanna International Group LLP increased its stake in shares of Carrols Restaurant Group by 165.2% in the 3rd quarter. Susquehanna International Group LLP now owns 10,794 shares of the restaurant operator’s stock worth $118,000 after acquiring an additional 27,358 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Carrols Restaurant Group in the 4th quarter worth $145,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Carrols Restaurant Group by 20,432.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,114 shares of the restaurant operator’s stock worth $147,000 after acquiring an additional 12,055 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Carrols Restaurant Group in the 3rd quarter worth $133,000. 88.88% of the stock is owned by institutional investors and hedge funds.
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Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.
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