Carrols Restaurant Group (NASDAQ:TAST) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Thursday, December 21st. Citigroup raised their price target 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. Finally, BidaskClub downgraded Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.00.
Carrols Restaurant Group (NASDAQ:TAST) opened at $12.35 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $459.22, a P/E ratio of 18.16, a PEG ratio of 2.68 and a beta of 0.17. Carrols Restaurant Group has a 52-week low of $9.90 and a 52-week high of $17.55.
In related news, 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 in the company, valued at $14,991,051.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $32,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,900 shares of company stock valued at $767,944. 5.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. First Manhattan Co. increased its stake in Carrols Restaurant Group by 1.0% in the third quarter. First Manhattan Co. now owns 2,543,078 shares of the restaurant operator’s stock worth $27,719,000 after purchasing an additional 24,750 shares during the period. Brown Advisory Inc. increased its stake in Carrols Restaurant Group by 45.0% in the third quarter. Brown Advisory Inc. now owns 2,430,927 shares of the restaurant operator’s stock worth $26,497,000 after purchasing an additional 754,789 shares during the period. Dimensional Fund Advisors LP increased its stake in Carrols Restaurant Group by 6.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,187,556 shares of the restaurant operator’s stock worth $23,845,000 after purchasing an additional 131,673 shares during the period. Vanguard Group Inc. increased its stake in Carrols Restaurant Group by 4.3% in the second quarter. Vanguard Group Inc. now owns 1,469,067 shares of the restaurant operator’s stock worth $17,996,000 after purchasing an additional 60,027 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in Carrols Restaurant Group by 2.1% in the third quarter. Eagle Asset Management Inc. now owns 971,285 shares of the restaurant operator’s stock worth $10,732,000 after purchasing an additional 19,868 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.
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About Carrols Restaurant Group
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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