StockNews.com Initiates Coverage on Carrols Restaurant Group (NASDAQ:TAST)

StockNews.com assumed coverage on shares of Carrols Restaurant Group (NASDAQ:TAST) in a report released on Tuesday. The brokerage issued a buy rating on the restaurant operator’s stock.

TAST has been the topic of a number of other reports. Craig Hallum reaffirmed a hold rating on shares of Carrols Restaurant Group in a research note on Wednesday, January 17th. Stephens reaffirmed an equal weight rating and issued a $9.55 price target (down from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. Finally, Truist Financial reaffirmed a hold rating and issued a $9.55 price target (down from $10.00) on shares of Carrols Restaurant Group in a research note on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $8.87.

Carrols Restaurant Group Price Performance

Shares of Carrols Restaurant Group stock opened at $9.51 on Tuesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.49 and a quick ratio of 0.41. The business’s 50 day simple moving average is $9.48 and its two-hundred day simple moving average is $8.27. The stock has a market capitalization of $545.68 million, a P/E ratio of 18.29 and a beta of 2.50. Carrols Restaurant Group has a one year low of $3.67 and a one year high of $9.54.

Carrols Restaurant Group (NASDAQ:TAST) last announced its quarterly earnings results on Friday, March 8th. The restaurant operator reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $470.36 million for the quarter, compared to analysts’ expectations of $470.41 million. Carrols Restaurant Group had a return on equity of 19.41% and a net margin of 1.80%. Analysts forecast that Carrols Restaurant Group will post 0.64 EPS for the current year.

Carrols Restaurant Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Monday, March 11th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, March 8th. This represents a $0.08 annualized dividend and a dividend yield of 0.84%. Carrols Restaurant Group’s dividend payout ratio (DPR) is presently 15.38%.

Hedge Funds Weigh In On Carrols Restaurant Group

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in shares of Carrols Restaurant Group by 15.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,274 shares of the restaurant operator’s stock valued at $65,000 after buying an additional 1,126 shares during the period. Federated Hermes Inc. boosted its position in shares of Carrols Restaurant Group by 73.6% during the fourth quarter. Federated Hermes Inc. now owns 3,257 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 1,381 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Carrols Restaurant Group by 18.7% during the fourth quarter. Mackenzie Financial Corp now owns 12,830 shares of the restaurant operator’s stock valued at $101,000 after purchasing an additional 2,022 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Carrols Restaurant Group by 14.3% during the third quarter. Ritholtz Wealth Management now owns 16,243 shares of the restaurant operator’s stock valued at $107,000 after purchasing an additional 2,033 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Carrols Restaurant Group by 11.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 36,784 shares of the restaurant operator’s stock valued at $242,000 after purchasing an additional 3,860 shares in the last quarter. 86.80% of the stock is owned by hedge funds and other institutional investors.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates restaurants in the United States. It operates quick service restaurants as a franchisee under the Burger King and Popeyes brands in 23 Northeastern, Midwestern, Southcentral, and Southeastern states. The company was founded in 1960 and is headquartered in Syracuse, New York.