Zacks Investment Research lowered shares of Carrols Restaurant Group (NASDAQ:TAST) from a buy rating to a hold rating in a research note released on Friday morning.
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. “
Other equities research analysts also recently issued research reports about the company. Citigroup cut their price objective on Carrols Restaurant Group from $16.00 to $15.00 and set a buy rating on the stock in a report on Monday, March 5th. Dougherty & Co reissued a buy rating on shares of Carrols Restaurant Group in a report on Sunday, March 4th. ValuEngine downgraded Carrols Restaurant Group from a hold rating to a sell rating in a report on Friday, February 2nd. Finally, BidaskClub downgraded Carrols Restaurant Group from a sell rating to a strong sell rating in a report on Monday, February 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $15.00.
Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Carrols Restaurant Group had a return on equity of 5.67% and a net margin of 0.66%. The company had revenue of $283.97 million for the quarter, compared to analyst estimates of $274.59 million. During the same quarter last year, the company posted $0.04 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. equities analysts expect that Carrols Restaurant Group will post 0.26 earnings per share for the current fiscal year.
In related news, CFO Paul R. Flanders sold 2,500 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $12.80, for a total transaction of $32,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in Carrols Restaurant Group by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 37,703 shares of the restaurant operator’s stock worth $462,000 after buying an additional 618 shares during the period. Nationwide Fund Advisors lifted its holdings in Carrols Restaurant Group by 11.1% during the 2nd quarter. Nationwide Fund Advisors now owns 22,511 shares of the restaurant operator’s stock worth $276,000 after buying an additional 2,252 shares during the period. Vanguard Group Inc. lifted its holdings in Carrols Restaurant Group by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,469,067 shares of the restaurant operator’s stock worth $17,996,000 after buying an additional 60,027 shares during the period. Voya Investment Management LLC lifted its holdings in Carrols Restaurant Group by 15.4% during the 2nd quarter. Voya Investment Management LLC now owns 19,139 shares of the restaurant operator’s stock worth $234,000 after buying an additional 2,559 shares during the period. Finally, State Street Corp lifted its holdings in Carrols Restaurant Group by 4.0% during the 2nd quarter. State Street Corp now owns 658,894 shares of the restaurant operator’s stock worth $8,076,000 after buying an additional 25,044 shares during the period. 88.88% of the stock is currently owned by institutional investors.
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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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