Short Interest in Carrols Restaurant Group, Inc. (NASDAQ:TAST) Rises By 28.6%

Carrols Restaurant Group, Inc. (NASDAQ:TAST) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,440,000 shares, a growth of 28.6% from the March 31st total of 1,120,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 673,400 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

TAST has been the topic of several recent analyst reports. StockNews.com initiated coverage on Carrols Restaurant Group in a research note on Tuesday, April 23rd. They set a “buy” rating on the stock. Craig Hallum reiterated a “hold” rating on shares of Carrols Restaurant Group in a research note on Wednesday, January 17th. Stephens reiterated an “equal weight” rating and set a $9.55 target price (down from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. Finally, Truist Financial reiterated a “hold” rating and set a $9.55 target price (down from $10.00) on shares of Carrols Restaurant Group in a research note on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Carrols Restaurant Group currently has a consensus rating of “Hold” and a consensus price target of $8.87.

Hedge Funds Weigh In On Carrols Restaurant Group

A number of institutional investors have recently bought and sold shares of TAST. AE Wealth Management LLC bought a new position in Carrols Restaurant Group in the 3rd quarter worth $494,000. SG Americas Securities LLC bought a new position in Carrols Restaurant Group in the 3rd quarter worth $104,000. Raymond James & Associates bought a new position in Carrols Restaurant Group in the 3rd quarter worth $138,000. BluePath Capital Management LLC bought a new position in Carrols Restaurant Group in the 3rd quarter worth $34,000. Finally, Panagora Asset Management Inc. raised its holdings in Carrols Restaurant Group by 127.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 53,295 shares of the restaurant operator’s stock worth $351,000 after purchasing an additional 29,824 shares during the period. 86.80% of the stock is owned by institutional investors.

Carrols Restaurant Group Stock Performance

Shares of NASDAQ TAST remained flat at $9.51 during midday trading on Friday. The stock had a trading volume of 378,133 shares, compared to its average volume of 459,537. The stock has a 50 day moving average price of $9.48 and a 200-day moving average price of $8.31. The stock has a market capitalization of $545.68 million, a price-to-earnings 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 has a 12-month low of $3.67 and a 12-month high of $9.54.

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

Carrols Restaurant Group Announces Dividend

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

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.