Carrols Restaurant Group (TAST) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Carrols Restaurant Group (NASDAQ:TAST) from a hold rating to a buy rating in a report issued on Thursday. They currently have $14.00 target price on the restaurant operator’s stock.

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. “

A number of other brokerages have also issued reports on TAST. Dougherty & Co reaffirmed a buy rating on shares of Carrols Restaurant Group in a research report on Sunday, March 4th. BidaskClub lowered Carrols Restaurant Group from a sell rating to a strong sell rating in a research report on Monday, February 19th. Citigroup cut their target price on Carrols Restaurant Group from $16.00 to $15.00 and set a buy rating on the stock in a research report on Monday, March 5th. Finally, ValuEngine lowered Carrols Restaurant Group from a hold rating to a sell rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Carrols Restaurant Group presently has an average rating of Hold and a consensus target price of $15.00.

Carrols Restaurant Group (TAST) opened at $12.60 on Thursday. The company has a market capitalization of $455.60, a P/E ratio of 78.75, a P/E/G ratio of 2.39 and a beta of 0.13. 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 has a 52-week low of $9.90 and a 52-week high of $14.65.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $283.97 million for the quarter, compared to analyst estimates of $274.59 million. Carrols Restaurant Group had a return on equity of 5.67% and a net margin of 0.66%. Carrols Restaurant Group’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 EPS. analysts predict that Carrols Restaurant Group will post 0.26 earnings per share for the current fiscal year.

In other Carrols Restaurant Group news, CFO Paul R. Flanders sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $12.80, for a total value of $32,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Carrols Restaurant Group in the 3rd quarter valued at approximately $104,000. Susquehanna International Group LLP increased its holdings in shares of Carrols Restaurant Group by 165.2% in the 3rd quarter. Susquehanna International Group LLP now owns 10,794 shares of the restaurant operator’s stock valued at $118,000 after acquiring an additional 27,358 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Carrols Restaurant Group in the 3rd quarter valued at approximately $133,000. Teacher Retirement System of Texas bought a new stake in shares of Carrols Restaurant Group in the 4th quarter valued at approximately $145,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Carrols Restaurant Group by 20,432.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,114 shares of the restaurant operator’s stock valued at $147,000 after acquiring an additional 12,055 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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Carrols Restaurant Group Company Profile

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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