Carrols Restaurant Group (TAST) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research downgraded shares of Carrols Restaurant Group (NASDAQ:TAST) from a buy rating to a strong sell rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Carrols Restaurant Group is the largest BURGER KING franchisee in the U.S., with over 800 restaurants and has operated BURGER KING restaurants since 1976. “

Several other equities analysts also recently issued reports on the company. BidaskClub upgraded Carrols Restaurant Group from a strong sell rating to a sell rating in a research report on Tuesday, April 16th. ValuEngine upgraded Carrols Restaurant Group from a sell rating to a hold rating in a research report on Monday, February 4th. Finally, Dougherty & Co reiterated a buy rating and issued a $16.00 price objective on shares of Carrols Restaurant Group in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $14.50.

Shares of Carrols Restaurant Group stock traded up $0.12 during midday trading on Tuesday, hitting $8.43. 7,538 shares of the company were exchanged, compared to its average volume of 316,371. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market capitalization of $375.83 million, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.86 and a beta of 0.27. Carrols Restaurant Group has a 52 week low of $8.19 and a 52 week high of $16.40.

Carrols Restaurant Group (NASDAQ:TAST) last posted its earnings results on Wednesday, May 8th. The restaurant operator reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.13). Carrols Restaurant Group had a return on equity of 3.29% and a net margin of 0.15%. The company had revenue of $290.80 million for the quarter, compared to the consensus estimate of $292.51 million. During the same quarter last year, the business earned ($0.08) EPS. Carrols Restaurant Group’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Carrols Restaurant Group will post 0.23 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new stake in shares of Carrols Restaurant Group in the 4th quarter valued at $31,000. Macquarie Group Ltd. increased its stake in shares of Carrols Restaurant Group by 43.7% in the 4th quarter. Macquarie Group Ltd. now owns 5,264 shares of the restaurant operator’s stock valued at $52,000 after buying an additional 1,600 shares during the period. Legal & General Group Plc increased its stake in shares of Carrols Restaurant Group by 31.7% in the 4th quarter. Legal & General Group Plc now owns 6,502 shares of the restaurant operator’s stock valued at $64,000 after buying an additional 1,564 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Carrols Restaurant Group by 202.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the restaurant operator’s stock valued at $72,000 after buying an additional 4,838 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Carrols Restaurant Group by 331.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,779 shares of the restaurant operator’s stock valued at $96,000 after buying an additional 7,512 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of December 30, 2018, it owned and operated 849 Burger King restaurants located in 18 Northeastern, Midwestern, and Southeastern states. The company was founded in 1960 and is headquartered in Syracuse, New York.

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