Carrols Restaurant Group (NASDAQ:TAST) Trading Up 14.5%

Shares of Carrols Restaurant Group Inc (NASDAQ:TAST) were up 14.5% on Friday . The company traded as high as $7.64 and last traded at $7.57, approximately 886,594 shares were traded during trading. An increase of 129% from the average daily volume of 386,624 shares. The stock had previously closed at $6.61.

A number of equities research analysts have recently weighed in on TAST shares. Raymond James dropped their price target on Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Deutsche Bank started coverage on Carrols Restaurant Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $9.00 price target on the stock. BidaskClub upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Carrols Restaurant Group currently has a consensus rating of “Buy” and a consensus price target of $11.70.

The company has a quick ratio of 0.22, a current ratio of 0.32 and a debt-to-equity ratio of 3.73. The firm has a market cap of $342.99 million, a PE ratio of 25.23 and a beta of 0.51. The stock has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $8.36.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings results on Thursday, November 7th. The restaurant operator reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.19). Carrols Restaurant Group had a positive return on equity of 0.16% and a negative net margin of 0.77%. The firm had revenue of $398.40 million for the quarter, compared to analysts’ expectations of $400.92 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 34.1% compared to the same quarter last year. As a group, equities analysts anticipate that Carrols Restaurant Group Inc will post -0.03 earnings per share for the current year.

In other news, Director Alexander R. Sloane purchased 13,315 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $7.54 per share, for a total transaction of $100,395.10. Following the completion of the transaction, the director now owns 11,909 shares of the company’s stock, valued at $89,793.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of TAST. Russell Investments Group Ltd. increased its position in shares of Carrols Restaurant Group by 360.4% during the third quarter. Russell Investments Group Ltd. now owns 2,376,656 shares of the restaurant operator’s stock worth $19,702,000 after purchasing an additional 1,860,493 shares in the last quarter. Continental Grain Co. grew its holdings in Carrols Restaurant Group by 1,278.8% in the 2nd quarter. Continental Grain Co. now owns 1,399,035 shares of the restaurant operator’s stock valued at $12,633,000 after buying an additional 1,297,566 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Carrols Restaurant Group in the 2nd quarter valued at $4,903,000. Boston Partners purchased a new stake in Carrols Restaurant Group in the 2nd quarter valued at $3,971,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Carrols Restaurant Group in the 3rd quarter valued at $2,150,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.

Carrols Restaurant Group Company Profile (NASDAQ:TAST)

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.

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