Carrols Restaurant (NASDAQ: TAST) was downgraded by Zacks Investment Research from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday.
Carrols Restaurant Group, Inc. (Carrols Restaurant Group) is a holding company and conducts all of its operations through its direct and indirect subsidiaries. The Company is a restaurant company in the United States operating three restaurant brands in the quick-casual and quick-service restaurant segments with 559 restaurants located in 17 states as of December 31, 2009. It owns and operates two Hispanic restaurant brands, Pollo Tropical and Taco Cabana (together referred to as its Hispanic Brands). The Company is also a Burger King franchisee, based on the number of restaurants. As of December 31, 2009, its company-owned restaurants included 91 Pollo Tropical restaurants and 156 Taco Cabana restaurants, and it operated 312 Burger King restaurants under franchise agreements. The Company also franchises its Hispanic Brand restaurants with 32 franchised restaurants located in Puerto Rico, Ecuador, Honduras, the Bahamas and the United States as of December 31, 2009.
Shares of Carrols Restaurant opened at 11.13 on Wednesday. Carrols Restaurant has a 52 week low of $6.85 and a 52 week high of $11.89. The stock’s 50-day moving average is $10.83 and its 200-day moving average is $9.76. The company has a market cap of $246.0 million and a price-to-earnings ratio of 17.95.