Carrols Restaurant Group (TAST) Reaches New 12-Month High at $16.35
Carrols Restaurant Group, Inc. (NASDAQ:TAST) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.35 and last traded at $16.10, with a volume of 2631 shares changing hands. The stock had previously closed at $16.15.
A number of research firms have issued reports on TAST. BidaskClub lowered Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Zacks Investment Research raised Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, August 10th. Citigroup raised their target price on Carrols Restaurant Group from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. SunTrust Banks began coverage on Carrols Restaurant Group in a research report on Wednesday, May 23rd. They set a “buy” rating and a $16.00 target price on the stock. Finally, ValuEngine raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.63.
The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $568.18 million, a price-to-earnings ratio of 81.00, a PEG ratio of 2.17 and a beta of 0.34.
In related news, CFO Paul R. Flanders sold 17,501 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $15.85, for a total transaction of $277,390.85. Following the transaction, the chief financial officer now owns 323,312 shares in the company, valued at approximately $5,124,495.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William E. Myers sold 18,300 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $15.57, for a total value of $284,931.00. Following the transaction, the vice president now owns 87,273 shares in the company, valued at approximately $1,358,840.61. The disclosure for this sale can be found here. Insiders have sold a total of 53,939 shares of company stock worth $846,544 in the last three months. Corporate insiders own 4.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new position in Carrols Restaurant Group during the 1st quarter worth approximately $115,000. Barclays PLC grew its stake in Carrols Restaurant Group by 79.3% during the 1st quarter. Barclays PLC now owns 11,605 shares of the restaurant operator’s stock worth $130,000 after buying an additional 5,131 shares during the last quarter. Trexquant Investment LP purchased a new position in Carrols Restaurant Group during the 2nd quarter worth approximately $162,000. Campbell & CO Investment Adviser LLC purchased a new position in Carrols Restaurant Group during the 2nd quarter worth approximately $170,000. Finally, Highbridge Capital Management LLC purchased a new position in Carrols Restaurant Group during the 1st quarter worth approximately $197,000. Hedge funds and other institutional investors own 82.96% of the company’s stock.
Carrols Restaurant Group Company Profile (NASDAQ:TAST)
Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King. As of December 31, 2017, it owned and operated 807 Burger King restaurants located in 17 states of the United States. The company was founded in 1960 and is headquartered in Syracuse, New York.
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