Carrols Restaurant Group (NASDAQ:TAST) Coverage Initiated by Analysts at StockNews.com

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

A number of other brokerages also recently weighed in on TAST. Stephens reissued an equal weight rating and set a $9.55 target price (down previously from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. Craig Hallum reaffirmed a hold rating on shares of Carrols Restaurant Group in a research note on Wednesday, January 17th. 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $8.87.

Carrols Restaurant Group Price Performance

Shares of NASDAQ TAST opened at $9.51 on Tuesday. Carrols Restaurant Group has a twelve month low of $3.47 and a twelve month high of $9.54. The firm has a fifty day simple moving average of $9.48 and a 200 day simple moving average of $8.26. The company has a market capitalization of $545.68 million, a PE ratio of 18.29 and a beta of 2.50. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 2.28.

Carrols Restaurant Group (NASDAQ:TAST) last announced its earnings results on Friday, March 8th. The restaurant operator reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $470.41 million. On average, sell-side analysts forecast that Carrols Restaurant Group will post 0.64 EPS for the current year.

Carrols Restaurant Group Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC grew its holdings in shares of Carrols Restaurant Group by 44.7% during the third quarter. Acadian Asset Management LLC now owns 859,120 shares of the restaurant operator’s stock valued at $5,660,000 after buying an additional 265,482 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Carrols Restaurant Group by 3.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 646,720 shares of the restaurant operator’s stock valued at $5,096,000 after buying an additional 21,900 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Carrols Restaurant Group by 181.1% during the third quarter. Assenagon Asset Management S.A. now owns 460,177 shares of the restaurant operator’s stock valued at $3,033,000 after buying an additional 296,473 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Carrols Restaurant Group during the third quarter valued at about $2,230,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Carrols Restaurant Group by 447,334.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 286,358 shares of the restaurant operator’s stock valued at $2,257,000 after buying an additional 286,294 shares during the last quarter. 86.80% of the stock is currently owned by institutional investors and hedge funds.

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.