Carrols Restaurant Group Inc. (TAST) Stock Rating Upgraded by 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 report issued to clients and investors on Thursday. The firm presently has a $15.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 14.77% from the stock’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. reissued a “buy” rating and set a $15.50 price target (up from $15.00) on shares of Carrols Restaurant Group in a research report on Tuesday, July 5th.
Carrols Restaurant Group (NASDAQ:TAST) opened at 13.07 on Thursday. The firm has a market capitalization of $459.06 million, a price-to-earnings ratio of 25.33 and a beta of -0.08. Carrols Restaurant Group has a 52-week low of $10.57 and a 52-week high of $14.80. The company’s 50-day moving average price is $13.06 and its 200 day moving average price is $13.13.
Carrols Restaurant Group (NASDAQ:TAST) last announced its earnings results on Tuesday, August 9th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Carrols Restaurant Group had a return on equity of 26.41% and a net margin of 2.83%. The business earned $241.40 million during the quarter, compared to the consensus estimate of $244.61 million. Equities research analysts predict that Carrols Restaurant Group will post $0.59 earnings per share for the current year.
In related news, VP Timothy Lalonde sold 4,000 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $13.61, for a total transaction of $54,440.00. Following the transaction, the vice president now directly owns 96,053 shares of the company’s stock, valued at $1,307,281.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its position in Carrols Restaurant Group by 18.4% in the first quarter. Prudential Financial Inc. now owns 244,500 shares of the company’s stock valued at $3,531,000 after buying an additional 38,038 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Carrols Restaurant Group by 2.0% in the first quarter. TIAA CREF Investment Management LLC now owns 217,968 shares of the company’s stock valued at $3,147,000 after buying an additional 4,234 shares during the last quarter. Renaissance Technologies LLC raised its position 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 during the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Carrols Restaurant Group by 3.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 21,800 shares of the company’s stock valued at $315,000 after buying an additional 700 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Carrols Restaurant Group during the first quarter valued at $355,000. 83.05% of the stock is currently owned by hedge funds and other institutional investors.
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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