Zacks Investment Research Upgrades Carrols Restaurant Group (TAST) to “Buy”

Carrols Restaurant Group (NASDAQ:TAST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $14.00 price target on the restaurant operator’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.11% from the company’s current price.

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 equities analysts have also recently issued reports on the company. BidaskClub cut Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Wednesday. Citigroup raised their target price on Carrols Restaurant Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.50 target price on shares of Carrols Restaurant Group in a research report on Tuesday, September 26th. UBS cut Carrols Restaurant Group from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, September 26th. Finally, ValuEngine raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Carrols Restaurant Group presently has a consensus rating of “Buy” and an average price target of $15.00.

Carrols Restaurant Group (TAST) opened at $12.60 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $455.60, a price-to-earnings ratio of 105.83, a P/E/G ratio of 4.76 and a beta of 0.18. Carrols Restaurant Group has a 1-year low of $9.90 and a 1-year high of $17.55.

Carrols Restaurant Group (NASDAQ:TAST) last issued its earnings results on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ 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 return on equity of 4.61% and a net margin of 3.13%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. analysts anticipate that Carrols Restaurant Group will post 0.13 earnings per share for the current fiscal year.

In other news, VP William E. Myers sold 6,400 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $12.96, for a total value of $82,944.00. Following the completion of the sale, the vice president now owns 77,049 shares of the company’s stock, valued at $998,555.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel T. Accordino sold 50,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $13.06, for a total value of $653,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,147,860 shares of the company’s stock, valued at approximately $14,991,051.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,900 shares of company stock valued at $767,944. 5.60% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in Carrols Restaurant Group by 37.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 50,300 shares of the restaurant operator’s stock valued at $616,000 after purchasing an additional 13,746 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in Carrols Restaurant Group by 48.0% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 300,816 shares of the restaurant operator’s stock valued at $3,684,000 after purchasing an additional 97,600 shares during the last quarter. Royce & Associates LP boosted its position in Carrols Restaurant Group by 147.8% during the second quarter. Royce & Associates LP now owns 327,774 shares of the restaurant operator’s stock valued at $4,015,000 after purchasing an additional 195,500 shares during the last quarter. Vanguard Group Inc. boosted its position in Carrols Restaurant Group by 4.3% during the second quarter. Vanguard Group Inc. now owns 1,469,067 shares of the restaurant operator’s stock valued at $17,996,000 after purchasing an additional 60,027 shares during the last quarter. Finally, Formula Growth Ltd. boosted its position in Carrols Restaurant Group by 25.0% during the third quarter. Formula Growth Ltd. now owns 125,030 shares of the restaurant operator’s stock valued at $1,363,000 after purchasing an additional 25,000 shares during the last quarter. 88.48% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Zacks Investment Research Upgrades Carrols Restaurant Group (TAST) to “Buy”” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/12/21/zacks-investment-research-upgrades-carrols-restaurant-group-tast-to-buy.html.

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.

Receive News & Ratings for Carrols Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrols Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply