Carrols Restaurant Group (NASDAQ:TAST) Earns Buy Rating from Analysts at StockNews.com

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

Other research analysts have also recently issued reports about the stock. Craig Hallum restated a hold rating on shares of Carrols Restaurant Group in a research report on Wednesday, January 17th. Stephens reiterated an equal weight rating and set a $9.55 price target (down from $13.00) on shares of Carrols Restaurant Group in a research report on Tuesday, January 16th. Finally, Truist Financial reiterated a hold rating and set a $9.55 price target (down from $10.00) on shares of Carrols Restaurant Group in a research report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Carrols Restaurant Group currently has a consensus rating of Hold and an average price target of $8.87.

Carrols Restaurant Group Stock Down 0.1 %

TAST stock opened at $9.51 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 2.28. The company’s 50 day moving average is $9.49 and its 200 day moving average is $8.40. The stock has a market cap of $545.68 million, a price-to-earnings ratio of 18.29 and a beta of 2.48. Carrols Restaurant Group has a 1-year low of $3.67 and a 1-year high of $9.54.

Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings data on Friday, March 8th. The restaurant operator reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The company had revenue of $470.36 million for the quarter, compared to analysts’ expectations of $470.41 million. Carrols Restaurant Group had a net margin of 1.80% and a return on equity of 19.41%. Sell-side analysts predict that Carrols Restaurant Group will post 0.64 EPS for the current fiscal year.

Carrols Restaurant Group Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Carrols Restaurant Group by 447,334.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 286,358 shares of the restaurant operator’s stock worth $2,257,000 after buying an additional 286,294 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Carrols Restaurant Group in the third quarter worth $1,600,000. Alpha DNA Investment Management LLC purchased a new position in shares of Carrols Restaurant Group in the third quarter worth $549,000. Assenagon Asset Management S.A. increased its stake in shares of Carrols Restaurant Group by 181.1% in the third quarter. Assenagon Asset Management S.A. now owns 460,177 shares of the restaurant operator’s stock worth $3,033,000 after buying an additional 296,473 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of Carrols Restaurant Group in the third quarter worth $117,000. 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.