Craig Hallum gives a Buy recommendation for Carrols Restaurant Group Inc. (TAST)


Carrols Restaurant Group Inc.’s recently made public that its VP, Chief Development Officer Cross Richard G unloaded Company’s shares for reported $35300.0 on Aug 30. In the deal valued at $7.06 per share,5,000 shares were sold. As a result of this transaction, Cross Richard G now holds 277,179 shares worth roughly $ 1.65 million.

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Then, Myers William E sold 10,000 shares, generating $20,265 in total proceeds. Upon selling the shares at $2.03, the VP now owns 88,571 shares.

Before that, Pena Paulo A bought 17,000 shares. Carrols Restaurant Group Inc. shares valued at $24,794 were divested by the President and CEO at a price of $1.46 per share. As a result of the transaction, Pena Paulo A now holds 138,275 shares, worth roughly $0.82 million.

Craig Hallum upgraded its Carrols Restaurant Group Inc. [TAST] rating to a Buy from a a Hold in a research note published on Monday, March 07, 2023; the price target was increased to $4 from $2.50. PT values the company’s stock at a premium of -48.75 to its Monday closing price.

Price Performance Review of TAST

On Monday, Carrols Restaurant Group Inc. [NASDAQ:TAST] saw its stock fall -0.42% to $5.95. On the same session, the stock had its day’s lowest price of $5.86, but rose to a high of $6.02. Over the last five days, the stock has lost -5.25%. Carrols Restaurant Group Inc. shares have risen nearly 337.50% since the year began. Nevertheless, the stocks have risen 202.03% over the past one year. While a 52-week high of $7.75 was reached on 08/10/23, a 52-week low of $1.31 was recorded on 01/03/23. SMA at 50 days reached $6.20, while 200 days put it at $3.84. A total of 0.53 million shares were traded, compared to the trading of 0.45 million shares in the previous session.

Levels Of Support And Resistance For TAST Stock

The 24-hour chart illustrates a support level at 5.87, which if violated will result in even more drops to 5.78. On the upside, there is a resistance level at 6.03. A further resistance level may holdings at 6.10. The Relative Strength Index (RSI) on the 14-day chart is 36.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.23%. Stochastics %K at 6.75% indicates the stock is a buying.

How much short interest is there in Carrols Restaurant Group Inc.?

A steep rise in short interest was recorded in Carrols Restaurant Group Inc. stocks on Aug 30, 2023, dropping by -0.13 million shares to a total of 1.66 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 1.79 million shares. There was a decline of -7.83%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.88% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.22.

Carrols Restaurant Group Inc. [TAST] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 2,420,109 shares, or roughly 4.44% of the outstanding TAST shares. In other words, the investor’s shares have risen by 1,857,582 from its previous 13-F filing of 562527.0. Additionally, The Vanguard Group, Inc. increased 5.07% of its stake after which the total value it holdings stand at $11,268,652, while Dimensional Fund Advisors LP added 13.78% of its stake to hold $11.11 million in the firm. At present, Royce & Associates LP is holding 1,219,899 shares valued at $8.51 million. Atika Capital Management LLC owned 790,000 shares of the company at the time of its most recent 13F filing, worth $5.51 million.

According to FactSet, Carrols Restaurant Group Inc.’s share price will average $9.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 59.13 percent from its previous closing price of $5.97. Analysts expect Carrols Restaurant Group Inc. stock to reach the higher price of $10.00, while the lowest price estimate is $8.00. However, 4 analysts have rated TAST stock as a Buy in their predictions for 2023.


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