Carrols Restaurant Group Inc. (TAST) Lifted to Buy at Zacks Investment Research
Carrols Restaurant Group Inc. (NASDAQ:TAST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $14.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 10.32% from the company’s current price.
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 target price (up from $15.00) on shares of Carrols Restaurant Group in a report on Tuesday, July 5th.
Carrols Restaurant Group (NASDAQ:TAST) opened at 12.69 on Wednesday. The company has a market capitalization of $445.71 million, a PE ratio of 24.59 and a beta of -0.08. The firm’s 50-day moving average is $13.17 and its 200-day moving average is $13.10. Carrols Restaurant Group has a 52-week low of $10.57 and a 52-week high of $14.80.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $241.40 million for the quarter, compared to analysts’ expectations of $244.61 million. Carrols Restaurant Group had a return on equity of 26.41% and a net margin of 2.83%. On average, equities research analysts forecast that Carrols Restaurant Group will post $0.59 EPS for the current year.
In related news, VP Timothy Lalonde sold 4,000 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $13.61, for a total value of $54,440.00. Following the transaction, 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 SEC, which is available through the SEC website. 5.30% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. First Manhattan Co. boosted its position 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 worth $34,074,000 after buying an additional 859,472 shares in the last quarter. Cove Street Capital LLC raised its stake in 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 worth $30,085,000 after buying an additional 477,037 shares during the last quarter. Vanguard Group Inc. raised its stake in Carrols Restaurant Group by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,675,920 shares of the company’s stock worth $19,943,000 after buying an additional 49,748 shares during the last quarter. Renaissance Technologies LLC raised its stake in Carrols Restaurant Group by 34.3% in the first quarter. Renaissance Technologies LLC now owns 1,234,300 shares of the company’s stock worth $17,823,000 after buying an additional 315,400 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in 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 worth $10,128,000 after buying an additional 199,660 shares during the last quarter. 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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