Carrols Restaurant Group (NASDAQ:TAST) Rating Lowered to Strong Sell at BidaskClub

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BidaskClub cut shares of Carrols Restaurant Group (NASDAQ:TAST) from a sell rating to a strong sell rating in a research report sent to investors on Thursday, September 20th.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Carrols Restaurant Group from a buy rating to a hold rating in a report on Saturday, September 8th. Citigroup raised their price objective on shares of Carrols Restaurant Group from $17.00 to $19.00 and gave the stock a buy rating in a research note on Monday, August 13th. SunTrust Banks started coverage on shares of Carrols Restaurant Group in a research note on Wednesday, May 23rd. They set a buy rating and a $16.00 price objective for the company. Finally, ValuEngine raised shares of Carrols Restaurant Group from a hold rating to a buy rating in a research note on Friday, June 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $18.33.

NASDAQ:TAST traded up $0.09 during mid-day trading on Thursday, reaching $14.28. The stock had a trading volume of 170,554 shares, compared to its average volume of 254,445. 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 company has a market cap of $533.47 million, a P/E ratio of 71.40, a PEG ratio of 2.04 and a beta of 0.32. Carrols Restaurant Group has a twelve month low of $9.90 and a twelve month high of $16.40.

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

In other Carrols Restaurant Group news, CFO Paul R. Flanders sold 7,500 shares of Carrols Restaurant Group stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $16.27, for a total value of $122,025.00. Following the completion of the sale, the chief financial officer now directly owns 305,811 shares of the company’s stock, valued at approximately $4,975,544.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William E. Myers sold 18,300 shares of Carrols Restaurant Group stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $15.57, for a total transaction of $284,931.00. Following the completion of the sale, the vice president now directly owns 87,273 shares of the company’s stock, valued at $1,358,840.61. The disclosure for this sale can be found here. Insiders sold a total of 63,439 shares of company stock valued at $1,000,769 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Carrols Restaurant Group in the 1st quarter valued at $115,000. Trexquant Investment LP acquired a new position in shares of Carrols Restaurant Group during the 2nd quarter valued at $162,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Carrols Restaurant Group during the 2nd quarter valued at $170,000. Barclays PLC lifted its holdings in shares of Carrols Restaurant Group by 79.3% during the 1st quarter. Barclays PLC now owns 11,605 shares of the restaurant operator’s stock valued at $130,000 after acquiring an additional 5,131 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in shares of Carrols Restaurant Group during the 2nd quarter valued at $207,000. Institutional investors own 86.43% of the company’s stock.

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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