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

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

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TAST has been the subject of several other reports. ValuEngine cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. BidaskClub cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. Dougherty & Co reissued a “buy” rating on shares of Carrols Restaurant Group in a report on Sunday, March 4th. Finally, Citigroup increased their price target on shares of Carrols Restaurant Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, November 20th. 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. Carrols Restaurant Group presently has a consensus rating of “Hold” and an average price target of $15.00.

Carrols Restaurant Group (NASDAQ TAST) opened at $12.60 on Thursday. The stock has a market cap of $459.22, a PE ratio of 105.00, a P/E/G ratio of 2.41 and a beta of 0.13. Carrols Restaurant Group has a 1-year low of $9.90 and a 1-year high of $14.65. 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 (NASDAQ:TAST) last posted its quarterly earnings results on Wednesday, February 28th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $283.97 million during the quarter, compared to analysts’ expectations of $274.59 million. Carrols Restaurant Group had a net margin of 0.66% and a return on equity of 5.67%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. analysts predict that Carrols Restaurant Group will post 0.26 EPS for the current fiscal year.

In related news, CFO Paul R. Flanders sold 2,500 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $12.80, for a total transaction of $32,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new position in Carrols Restaurant Group in the fourth quarter valued at about $212,000. Vident Investment Advisory LLC purchased a new position in Carrols Restaurant Group in the fourth quarter valued at about $499,000. Millennium Management LLC increased its holdings in Carrols Restaurant Group by 679.3% in the fourth quarter. Millennium Management LLC now owns 984,561 shares of the restaurant operator’s stock valued at $11,962,000 after buying an additional 858,225 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Carrols Restaurant Group by 20,432.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,114 shares of the restaurant operator’s stock valued at $147,000 after buying an additional 12,055 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in Carrols Restaurant Group by 17.1% in the fourth quarter. Teachers Advisors LLC now owns 76,651 shares of the restaurant operator’s stock valued at $931,000 after buying an additional 11,217 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

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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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