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

StockNews.com began coverage on shares of Carrols Restaurant Group (NASDAQ:TAST) in a research note released on Wednesday. The firm issued a buy rating on the restaurant operator’s stock.

TAST has been the topic of a number of other research reports. Truist Financial restated a hold rating and set a $9.55 target price (down previously from $10.00) on shares of Carrols Restaurant Group in a report on Monday, January 22nd. Craig Hallum reaffirmed a hold rating on shares of Carrols Restaurant Group in a research note on Wednesday, January 17th. Finally, Stephens reissued an equal weight rating and issued a $9.55 target price (down from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. 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.com, the company currently has an average rating of Hold and an average price target of $8.87.

Carrols Restaurant Group Stock Performance

Shares of NASDAQ:TAST opened at $9.52 on Wednesday. The stock has a market capitalization of $546.31 million, a P/E ratio of 18.31 and a beta of 2.48. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 2.28. Carrols Restaurant Group has a 1-year low of $3.67 and a 1-year high of $9.54. The business has a 50-day moving average price of $9.49 and a two-hundred day moving average price of $8.40.

Carrols Restaurant Group (NASDAQ:TAST) last announced its quarterly earnings data on Friday, March 8th. The restaurant operator reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. Carrols Restaurant Group had a net margin of 1.80% and a return on equity of 19.41%. The business had revenue of $470.36 million for the quarter, compared to analyst estimates of $470.41 million. Equities analysts predict that Carrols Restaurant Group will post 0.64 earnings per share for the current year.

Carrols Restaurant Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Monday, March 11th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.84%. Carrols Restaurant Group’s payout ratio is 15.38%.

Hedge Funds Weigh In On Carrols Restaurant Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in shares of Carrols Restaurant Group by 73.6% in the 4th 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 during the period. BluePath Capital Management LLC bought a new stake in Carrols Restaurant Group in the 3rd quarter valued at approximately $34,000. Tower Research Capital LLC TRC boosted its position in Carrols Restaurant Group by 15.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,274 shares of the restaurant operator’s stock worth $65,000 after acquiring an additional 1,126 shares during the last quarter. AJOVista LLC bought a new position in shares of Carrols Restaurant Group during the 4th quarter worth approximately $76,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Carrols Restaurant Group by 18.7% in 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 during the last quarter. 86.80% of the stock is owned by institutional investors and hedge funds.

Carrols Restaurant Group Company Profile

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.