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Carrols Restaurant Group (NASDAQ:TAST) Research Coverage Started at Wolfe Research

Last updated on Tuesday, September 22, 2020 | 2020 MarketBeat

Research analysts at Wolfe Research initiated coverage on shares of Carrols Restaurant Group (NASDAQ:TAST) in a report issued on Tuesday, The Fly reports. The brokerage set an "outperform" rating and a $8.00 price target on the restaurant operator's stock. Wolfe Research's target price points to a potential upside of 22.70% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Carrols Restaurant Group from a "buy" rating to a "hold" rating in a research report on Wednesday, September 16th. Craig Hallum upped their price objective on shares of Carrols Restaurant Group from $5.00 to $8.00 in a research report on Monday, June 15th. Deutsche Bank upped their price objective on shares of Carrols Restaurant Group from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Zacks Investment Research upgraded shares of Carrols Restaurant Group from a "hold" rating to a "buy" rating and set a $8.00 price objective for the company in a research report on Saturday, August 8th. Finally, Stephens upped their price objective on shares of Carrols Restaurant Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of "Buy" and an average price target of $7.50.

TAST stock opened at $6.52 on Tuesday. The company has a fifty day moving average price of $6.79 and a 200 day moving average price of $4.53. Carrols Restaurant Group has a 12 month low of $0.98 and a 12 month high of $8.49. The company has a market cap of $343.76 million, a price-to-earnings ratio of -9.88 and a beta of 2.61. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.55 and a quick ratio of 0.47.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.17. Carrols Restaurant Group had a negative net margin of 2.05% and a negative return on equity of 6.61%. The firm had revenue of $368.42 million during the quarter, compared to the consensus estimate of $361.72 million. As a group, analysts anticipate that Carrols Restaurant Group will post 0.05 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in Carrols Restaurant Group by 144.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,657,989 shares of the restaurant operator's stock valued at $22,543,000 after acquiring an additional 2,749,357 shares during the last quarter. Private Capital Management LLC grew its stake in Carrols Restaurant Group by 4.9% in the 1st quarter. Private Capital Management LLC now owns 2,856,321 shares of the restaurant operator's stock valued at $5,199,000 after acquiring an additional 132,831 shares during the last quarter. BlackRock Inc. grew its stake in Carrols Restaurant Group by 0.6% in the 1st quarter. BlackRock Inc. now owns 2,680,579 shares of the restaurant operator's stock valued at $4,877,000 after acquiring an additional 17,249 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in Carrols Restaurant Group in the 2nd quarter valued at about $4,147,000. Finally, Geode Capital Management LLC grew its stake in Carrols Restaurant Group by 6.7% in the 1st quarter. Geode Capital Management LLC now owns 565,160 shares of the restaurant operator's stock valued at $1,028,000 after acquiring an additional 35,266 shares during the last quarter. 46.35% of the stock is currently owned by institutional investors and hedge funds.

Carrols Restaurant Group Company Profile

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.

See Also: Understanding Stock Ratings

The Fly

Analyst Recommendations for Carrols Restaurant Group (NASDAQ:TAST)

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