Carrols Restaurant Group (NASDAQ:TAST) Hits New 52-Week High at $9.54

Carrols Restaurant Group, Inc. (NASDAQ:TAST)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $9.54 and last traded at $9.53, with a volume of 208663 shares. The stock had previously closed at $9.52.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TAST. Truist Financial restated a “hold” rating and issued a $9.55 target price (down from $10.00) on shares of Carrols Restaurant Group in a research note on Monday, January 22nd. Stephens reiterated an “equal weight” rating and issued a $9.55 target price (down previously from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. StockNews.com started coverage on shares of Carrols Restaurant Group in a research note on Wednesday. They set a “buy” rating on the stock. Finally, Craig Hallum reissued a “hold” rating on shares of Carrols Restaurant Group in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.87.

Carrols Restaurant Group Stock Performance

The company’s fifty day simple moving average is $9.49 and its 200 day simple moving average is $8.45. The stock has a market capitalization of $546.26 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 (NASDAQ:TAST) last issued its quarterly earnings results on Friday, March 8th. The restaurant operator reported $0.10 EPS 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 firm had revenue of $470.36 million for the quarter, compared to analyst estimates of $470.41 million. As a group, sell-side analysts forecast that Carrols Restaurant Group, Inc. will post 0.64 earnings per share for the current fiscal year.

Carrols Restaurant Group Dividend Announcement

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

Institutional Trading of Carrols Restaurant Group

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in Carrols Restaurant Group by 73.6% during the fourth quarter. Federated Hermes Inc. now owns 3,257 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 1,381 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Carrols Restaurant Group during the third quarter valued at approximately $34,000. Tower Research Capital LLC TRC grew its holdings in shares of Carrols Restaurant Group by 15.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,274 shares of the restaurant operator’s stock worth $65,000 after purchasing an additional 1,126 shares during the last quarter. AJOVista LLC bought a new position in shares of Carrols Restaurant Group in the fourth quarter worth approximately $76,000. Finally, WINTON GROUP Ltd bought a new stake in Carrols Restaurant Group during the 3rd quarter valued at $98,000. Institutional investors own 86.80% of the company’s stock.

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.