Carrols Restaurant Group (NASDAQ:TAST) Lowered to “Sell” at Zacks Investment Research

Carrols Restaurant Group (NASDAQ:TASTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, 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. “

Separately, StockNews.com assumed coverage on Carrols Restaurant Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.20.

Shares of TAST opened at $1.45 on Friday. The firm has a market capitalization of $79.12 million, a price-to-earnings ratio of -1.69 and a beta of 2.53. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.32 and a current ratio of 0.41. Carrols Restaurant Group has a one year low of $1.28 and a one year high of $6.49. The stock’s fifty day moving average is $2.00 and its 200-day moving average is $2.59.

Carrols Restaurant Group (NASDAQ:TASTGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The restaurant operator reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. Carrols Restaurant Group had a negative return on equity of 8.94% and a negative net margin of 2.60%. During the same quarter last year, the business earned ($0.13) EPS. Analysts forecast that Carrols Restaurant Group will post -0.4 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. First Manhattan Co. grew its holdings in Carrols Restaurant Group by 18.2% during the third quarter. First Manhattan Co. now owns 2,152,517 shares of the restaurant operator’s stock worth $7,878,000 after acquiring an additional 331,603 shares during the period. Dimensional Fund Advisors LP grew its holdings in Carrols Restaurant Group by 7.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,104,993 shares of the restaurant operator’s stock worth $4,757,000 after acquiring an additional 137,213 shares during the period. Royce & Associates LP grew its holdings in Carrols Restaurant Group by 28.7% during the first quarter. Royce & Associates LP now owns 1,252,423 shares of the restaurant operator’s stock worth $2,830,000 after acquiring an additional 279,600 shares during the period. Union Square Park Capital Management LLC grew its holdings in Carrols Restaurant Group by 136.1% during the fourth quarter. Union Square Park Capital Management LLC now owns 708,271 shares of the restaurant operator’s stock worth $2,096,000 after acquiring an additional 408,271 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Carrols Restaurant Group by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 603,814 shares of the restaurant operator’s stock worth $1,787,000 after acquiring an additional 35,751 shares during the period. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About Carrols Restaurant Group (Get Rating)

Carrols Restaurant Group, Inc, through its subsidiaries, operates as a restaurant company in the United States. The company operates as a Burger King and Popeyes franchisee. As of January 2, 2022, it operated 1,026 Burger King restaurants located in 23 Northeastern, Midwestern, Southcentral, and Southeastern states; and 65 Popeyes restaurants in seven Southeastern states.

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