Carrols Restaurant Group (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

TAST has been the subject of several other reports. UBS cut shares of Carrols Restaurant Group from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, September 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $15.50 price target on shares of Carrols Restaurant Group in a research note on Tuesday, September 26th. Citigroup raised their price target on shares of Carrols Restaurant Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, ValuEngine raised shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.25.

Carrols Restaurant Group (NASDAQ TAST) opened at $12.70 on Wednesday. The firm has a market cap of $460.12, a P/E ratio of 106.25, a PEG ratio of 4.78 and a beta of 0.18. Carrols Restaurant Group has a 52 week low of $9.90 and a 52 week high of $17.55. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.85 and a current ratio of 0.95.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings results on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). The business had revenue of $258.24 million for the quarter, compared to the consensus estimate of $277.00 million. Carrols Restaurant Group had a return on equity of 4.61% and a net margin of 3.13%. Carrols Restaurant Group’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. equities research analysts predict that Carrols Restaurant Group will post 0.13 earnings per share for the current fiscal year.

In related news, CEO Daniel T. Accordino sold 50,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $13.06, for a total value of $653,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,147,860 shares of the company’s stock, valued at $14,991,051.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William E. Myers sold 6,400 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $12.96, for a total transaction of $82,944.00. Following the completion of the transaction, the vice president now directly owns 77,049 shares of the company’s stock, valued at $998,555.04. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP grew its stake in shares of Carrols Restaurant Group by 165.2% in the third quarter. Susquehanna International Group LLP now owns 10,794 shares of the restaurant operator’s stock valued at $118,000 after buying an additional 27,358 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Carrols Restaurant Group by 11.8% in the third quarter. California Public Employees Retirement System now owns 90,596 shares of the restaurant operator’s stock valued at $987,000 after buying an additional 9,596 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Carrols Restaurant Group in the third quarter valued at $133,000. Royce & Associates LP grew its stake in shares of Carrols Restaurant Group by 74.0% in the third quarter. Royce & Associates LP now owns 570,274 shares of the restaurant operator’s stock valued at $6,216,000 after buying an additional 242,500 shares in the last quarter. Finally, Formula Growth Ltd. grew its stake in shares of Carrols Restaurant Group by 25.0% in the third quarter. Formula Growth Ltd. now owns 125,030 shares of the restaurant operator’s stock valued at $1,363,000 after buying an additional 25,000 shares in the last quarter. 88.48% of the stock is owned by institutional investors and hedge funds.

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About Carrols Restaurant Group

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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