Raymond James Trims Carrols Restaurant Group (NASDAQ:TAST) Target Price to $5.00

Carrols Restaurant Group (NASDAQ:TAST) had its target price dropped by research analysts at Raymond James from $6.00 to $5.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the restaurant operator’s stock. Raymond James’ price objective would suggest a potential upside of 32.28% from the stock’s current price.

Separately, Zacks Investment Research upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Thursday.

TAST stock opened at $3.78 on Thursday. Carrols Restaurant Group has a 12-month low of $3.62 and a 12-month high of $8.09. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 1.95. The company has a market cap of $193.82 million, a price-to-earnings ratio of -5.91 and a beta of 2.72. The company has a 50 day moving average of $4.02 and a two-hundred day moving average of $5.12.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Thursday, August 12th. The restaurant operator reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.17). The business had revenue of $424.54 million for the quarter, compared to the consensus estimate of $427.94 million. Carrols Restaurant Group had a negative net margin of 1.94% and a negative return on equity of 0.27%. On average, research analysts anticipate that Carrols Restaurant Group will post -0.32 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in shares of Carrols Restaurant Group by 486.4% in the second quarter. Morgan Stanley now owns 131,604 shares of the restaurant operator’s stock worth $792,000 after acquiring an additional 109,162 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Carrols Restaurant Group by 107.6% in the second quarter. Wells Fargo & Company MN now owns 214,504 shares of the restaurant operator’s stock worth $1,289,000 after acquiring an additional 111,168 shares during the last quarter. Wexford Capital LP bought a new position in shares of Carrols Restaurant Group in the second quarter worth about $647,000. PDT Partners LLC bought a new position in shares of Carrols Restaurant Group in the second quarter worth about $77,000. Finally, Royal Bank of Canada raised its stake in shares of Carrols Restaurant Group by 37.8% in the second quarter. Royal Bank of Canada now owns 57,757 shares of the restaurant operator’s stock worth $347,000 after acquiring an additional 15,844 shares during the last quarter. 44.02% of the stock is owned by institutional investors.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc engages in the operation of restaurants under the Burger King and Popeyes brands. It serves flame-broiled whopper sandwich, hamburgers, chicken and other specialty sandwiches, fries, salads, breakfast items, smoothies, frappes, and other snacks. The company was founded in 1960 and is headquartered in Syracuse, NY.

Featured Story: What is dividend yield?

Receive News & Ratings for Carrols Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrols Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.