Carrols Restaurant Group Inc (NASDAQ:TAST)’s stock price fell 4.9% on Wednesday . The stock traded as low as $7.07 and last traded at $7.16, 474,620 shares changed hands during trading. An increase of 53% from the average session volume of 309,546 shares. The stock had previously closed at $7.52.
Several research firms recently weighed in on TAST. Dougherty & Co restated a “buy” rating and set a $16.00 price target on shares of Carrols Restaurant Group in a report on Thursday, May 9th. Zacks Investment Research upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $13.38.
The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.21 and a current ratio of 0.29. The stock’s fifty day simple moving average is $8.89. The company has a market cap of $365.62 million, a P/E ratio of 23.85 and a beta of 0.44.
Carrols Restaurant Group (NASDAQ:TAST) last released its earnings results on Thursday, August 8th. The restaurant operator reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). Carrols Restaurant Group had a positive return on equity of 0.19% and a negative net margin of 0.77%. The business had revenue of $368.56 million during the quarter, compared to analysts’ expectations of $366.91 million. During the same quarter in the previous year, the business earned $0.22 EPS. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, equities research analysts forecast that Carrols Restaurant Group Inc will post 0.18 earnings per share for the current fiscal year.
In other Carrols Restaurant Group news, Director Alexander R. Sloane bought 11,709 shares of Carrols Restaurant Group stock in a transaction on Monday, May 20th. The shares were acquired at an average price of $8.56 per share, for a total transaction of $100,229.04. Following the completion of the purchase, the director now directly owns 5,258 shares in the company, valued at approximately $45,008.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard G. Cross sold 14,600 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $8.63, for a total value of $125,998.00. Following the completion of the sale, the vice president now owns 185,698 shares in the company, valued at approximately $1,602,573.74. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new stake in Carrols Restaurant Group in the second quarter worth $27,000. Tower Research Capital LLC TRC grew its position in shares of Carrols Restaurant Group by 354.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the restaurant operator’s stock worth $30,000 after buying an additional 2,561 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Carrols Restaurant Group by 43.7% during the 4th quarter. Macquarie Group Ltd. now owns 5,264 shares of the restaurant operator’s stock worth $52,000 after buying an additional 1,600 shares in the last quarter. Legal & General Group Plc grew its position in shares of Carrols Restaurant Group by 31.7% during the 4th quarter. Legal & General Group Plc now owns 6,502 shares of the restaurant operator’s stock worth $64,000 after buying an additional 1,564 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of Carrols Restaurant Group by 202.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the restaurant operator’s stock worth $72,000 after buying an additional 4,838 shares in the last quarter. Institutional investors and hedge funds own 72.89% of the company’s stock.
About Carrols Restaurant Group (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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