Carrols Restaurant Group (TAST) Cut to “Sell” at Zacks Investment Research

Carrols Restaurant Group (NASDAQ:TAST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Carrols Restaurant Group is the largest BURGER KING franchisee in the U.S., with over 800 restaurants and has operated BURGER KING restaurants since 1976. “

Several other analysts have also commented on TAST. Citigroup lifted their price target on shares of Carrols Restaurant Group from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, June 25th. ValuEngine raised shares of Carrols Restaurant Group from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. SunTrust Banks reaffirmed a “buy” rating and set a $19.00 price target on shares of Carrols Restaurant Group in a research report on Wednesday, August 8th. Finally, BidaskClub raised shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Carrols Restaurant Group has a consensus rating of “Hold” and a consensus target price of $18.33.

Shares of Carrols Restaurant Group stock opened at $14.40 on Thursday. The company has a market cap of $533.47 million, a PE ratio of 72.00, a P/E/G ratio of 2.04 and a beta of 0.32. Carrols Restaurant Group has a 1-year low of $9.90 and a 1-year high of $16.40. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94.

Carrols Restaurant Group (NASDAQ:TAST) last issued its earnings results on Tuesday, August 7th. The restaurant operator reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $303.05 million for the quarter, compared to analysts’ expectations of $301.21 million. Carrols Restaurant Group had a return on equity of 8.53% and a net margin of 1.00%. As a group, analysts expect that Carrols Restaurant Group will post 0.36 earnings per share for the current fiscal year.

In other Carrols Restaurant Group news, CFO Paul R. Flanders sold 18,138 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $15.67, for a total value of $284,222.46. Following the sale, the chief financial officer now owns 341,450 shares of the company’s stock, valued at $5,350,521.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William E. Myers sold 18,300 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $15.57, for a total value of $284,931.00. Following the completion of the sale, the vice president now directly owns 87,273 shares in the company, valued at approximately $1,358,840.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,439 shares of company stock worth $1,000,769. Corporate insiders own 4.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vident Investment Advisory LLC raised its position in Carrols Restaurant Group by 7.5% in the second quarter. Vident Investment Advisory LLC now owns 46,159 shares of the restaurant operator’s stock valued at $685,000 after purchasing an additional 3,203 shares during the period. Advisors Asset Management Inc. raised its position in Carrols Restaurant Group by 20.2% in the second quarter. Advisors Asset Management Inc. now owns 22,211 shares of the restaurant operator’s stock valued at $214,000 after purchasing an additional 3,739 shares during the period. Barclays PLC raised its position in Carrols Restaurant Group by 79.3% in the first quarter. Barclays PLC now owns 11,605 shares of the restaurant operator’s stock valued at $130,000 after purchasing an additional 5,131 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in Carrols Restaurant Group by 83.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,224 shares of the restaurant operator’s stock valued at $249,000 after purchasing an additional 10,110 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Carrols Restaurant Group in the first quarter valued at approximately $115,000. 86.43% of the stock is currently owned by institutional investors.

Carrols Restaurant Group Company Profile

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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