The stock of Carrols Restaurant Group, Inc. (NASDAQ:TAST) hit a new 52-week low and has $10.14 target or 10.00% below today’s $11.27 share price. The 7 months bearish chart indicates high risk for the $408.96M company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $10.14 price target is reached, the company will be worth $40.90 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 332,103 shares traded hands or 60.70% up from the average. Carrols Restaurant Group, Inc. (NASDAQ:TAST) has declined 14.89% since April 5, 2016 and is downtrending. It has underperformed by 16.84% the S&P500.
According to Zacks Investment Research, “CARROLS RESTAURANT GROUP, INC., operating through its subsidiaries, including Carrols Corporation, is one of the largest restaurant companies in the United States. The Company operates three restaurant brands in the quick-casual and quick-service restaurant segments with over five hundred company-owned and operated restaurants in 16 states, and several franchised restaurants in the United States, Puerto Rico and Ecuador. Carrols Restaurant Group owns and operates two Hispanic Brand restaurants, Pollo Tropical and Taco Cabana. It is also the largest Burger King franchisee, based on number of restaurants, and has operated Burger King restaurants since 1976.”
Insitutional Activity: The institutional sentiment decreased to 1.05 in 2016 Q2. Its down 0.73, from 1.78 in 2016Q1. The ratio dived, as 26 funds sold all Carrols Restaurant Group, Inc. shares owned while 39 reduced positions. 12 funds bought stakes while 56 increased positions. They now own 25.25 million shares or 12.64% less from 28.90 million shares in 2016Q1.
Metropolitan Life Insurance Ny has 0% invested in the company for 26,422 shares. Cadence Capital Mngmt Ltd Limited Liability Company holds 39,350 shares or 0.04% of its portfolio. Advsrs Asset Management last reported 28,015 shares in the company. Tfs Cap Limited Liability Corp reported 124,817 shares or 0.27% of all its holdings. Vanguard Gp has 0% invested in the company for 1.68M shares. Financial Bank Of America Corporation De has invested 0% of its portfolio in Carrols Restaurant Group, Inc. (NASDAQ:TAST). The California-based Clarivest Asset Mgmt Ltd Limited Liability Company has invested 0.04% in Carrols Restaurant Group, Inc. (NASDAQ:TAST). State Street Corporation accumulated 0% or 637,023 shares. Deutsche Commercial Bank Ag holds 91,149 shares or 0% of its portfolio. Massachusetts Fincl Services Co Ma owns 42,711 shares or 0% of their US portfolio. The Florida-based Gruss Inc has invested 1.71% in Carrols Restaurant Group, Inc. (NASDAQ:TAST). Driehaus Cap Mngmt Llc has 239,075 shares for 0.1% of their US portfolio. The Wisconsin-based Convergence Invest Prtn Limited Liability has invested 0.21% in Carrols Restaurant Group, Inc. (NASDAQ:TAST). Royal Bank & Trust Of Canada, a Ontario – Canada-based fund reported 32,359 shares. Guggenheim Lc has invested 0% of its portfolio in Carrols Restaurant Group, Inc. (NASDAQ:TAST).
Insider Transactions: Since September 2, 2016, the stock had 0 buys, and 1 sale for $54,443 net activity. LaLonde Timothy had sold 4,000 shares worth $54,443.
More important recent Carrols Restaurant Group, Inc. (NASDAQ:TAST) news were published by: Businesswire.com which released: “Carrols Restaurant Group, Inc. Reports Financial Results for the Third Quarter …” on November 08, 2016, also Businesswire.com published article titled: “Carrols Restaurant Group, Inc. to Announce Third Quarter 2016 Financial …”, Businesswire.com published: “Carrols Restaurant Group, Inc. Completes the Acquisition of Six Burger King …” on May 26, 2016. More interesting news about Carrols Restaurant Group, Inc. (NASDAQ:TAST) was released by: Businesswire.com and their article: “Carrols Restaurant Group, Inc. Completes the Acquisition of 46 BURGER KING …” with publication date: December 09, 2015.
TAST Company Profile
Carrols Restaurant Group, Inc., incorporated on September 15, 1986, is a holding company. The Firm conducts all of its activities through its direct and indirect subsidiaries. The Firm operates in the hamburger category of the quick-service restaurant segment of the restaurant industry. The Company’s subsidiaries include Carrols LLC and Carrols Corporation.
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