Carrols Restaurant Group Inc. (NASDAQ: TAST) stock fell -2.05% on Friday to $5.97 against a previous-day closing price of $6.10. With 0.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.71 million shares. During the session, the Restaurants company that operates in wider Consumer Cyclical sector, reached to the highest price of $6.10 whereas the lowest price it dropped to was $5.92. The 52-week range on TAST shows that it touched its highest point at $7.75 and its lowest point at $1.31 during that stretch. It currently has a 1-year price target of $9.25. Beta for the stock currently stands at 2.28.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TAST was down-trending over the past week, with a drop of -5.16%, but this was down by -18.04% over a month. Three-month performance surged to 6.89% while six-month performance rose 167.94%. The stock gained 198.75% in the past year, while it has gained 339.34% so far this year. A look at the trailing 12-month EPS for TAST yields -0.29 with Next year EPS estimates of 0.36. For the next quarter, that number is 0.05. This implies an EPS growth rate of -72.80% for this year and -0.82% for next year.
Float and Shares Shorts:
At present, 51.53 million TAST shares are outstanding with a float of 34.14 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.66 million, which was 3.21% higher than short shares on Jul 30, 2023. In addition to Ms. Deborah M. Derby as the firm’s CEO, Pres & Director, Mr. Anthony E. Hull serves as its VP, CFO & Treasurer.
Through their ownership of 29.81% of TAST’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 55.24% of TAST, in contrast to 23.92% held by mutual funds. Shares owned by individuals account for 18.08%. As the largest shareholder in TAST with 4.44% of the stake, BlackRock Fund Advisors holds 2,420,109 shares worth 2,420,109. A second-largest stockholder of TAST, The Vanguard Group, Inc., holds 1,614,420 shares, controlling over 2.96% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in TAST, holding 1,591,616 shares or 2.92% stake. With a 1.74% stake in TAST, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 945,470 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.53% of TAST stock, is the second-largest Mutual Fund holder. It holds 835,999 shares valued at 5.84 million. Royce Small-Cap Opportunity Fund holds 1.44% of the stake in TAST, owning 781,868 shares worth 5.46 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jul 01, 2023, TAST reported revenue of $441.94M and operating income of -$6.35M. The EBITDA in the recently reported quarter was $13.29M and diluted EPS was -$0.52.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TAST since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TAST analysts setting a high price target of $10.00 and a low target of $8.00, the average target price over the next 12 months is $9.25. Based on these targets, TAST could surge 67.5% to reach the target high and rise by 34.0% to reach the target low. Reaching the average price target will result in a growth of 54.94% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TAST stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 1,167,042 while 143,328 shares were sold.