Insider Selling: Carrols Restaurant Group, Inc. (TAST) VP Sells $82,944.00 in Stock
Carrols Restaurant Group, Inc. (NASDAQ:TAST) VP William E. Myers sold 6,400 shares of Carrols Restaurant Group stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $12.96, for a total value of $82,944.00. Following the sale, the vice president now directly owns 77,049 shares of the company’s stock, valued at approximately $998,555.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Carrols Restaurant Group, Inc. (NASDAQ TAST) traded down $0.35 during mid-day trading on Thursday, hitting $12.65. The stock had a trading volume of 206,600 shares, compared to its average volume of 257,412. The firm has a market cap of $470.06, a PE ratio of 108.33, a PEG ratio of 4.88 and a beta of 0.18. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.79. Carrols Restaurant Group, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $17.55.
Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). The company had revenue of $258.24 million during the quarter, compared to analyst estimates of $277.00 million. Carrols Restaurant Group had a net margin of 3.13% and a return on equity of 4.61%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. research analysts expect that Carrols Restaurant Group, Inc. will post 0.13 EPS for the current year.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday. Citigroup boosted their price objective on Carrols Restaurant Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, November 20th. ValuEngine raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Raymond James Financial reissued an “outperform” rating and issued a $15.50 price objective on shares of Carrols Restaurant Group in a report on Tuesday, September 26th. Finally, UBS cut Carrols Restaurant Group from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $15.25.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. raised its holdings in Carrols Restaurant Group by 1.0% in the 3rd quarter. First Manhattan Co. now owns 2,543,078 shares of the restaurant operator’s stock worth $27,719,000 after purchasing an additional 24,750 shares during the period. Brown Advisory Inc. raised its holdings in Carrols Restaurant Group by 45.0% in the 3rd quarter. Brown Advisory Inc. now owns 2,430,927 shares of the restaurant operator’s stock worth $26,497,000 after purchasing an additional 754,789 shares during the period. Dimensional Fund Advisors LP raised its holdings in Carrols Restaurant Group by 6.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,187,556 shares of the restaurant operator’s stock worth $23,845,000 after purchasing an additional 131,673 shares during the period. Vanguard Group Inc. raised its holdings in Carrols Restaurant Group by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,469,067 shares of the restaurant operator’s stock worth $17,996,000 after purchasing an additional 60,027 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in Carrols Restaurant Group by 2.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 971,285 shares of the restaurant operator’s stock worth $10,732,000 after purchasing an additional 19,868 shares during the period. 88.48% of the stock is owned by institutional investors.
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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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