Carrols Restaurant Group, Inc. (NASDAQ:TAST) is one of the stocks that are grabbing investor focus today: skyrocketing 3.31% or (0.28 points) to $8.59 from its previous close of $8.31. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 187621 contracts so far this session. TAST shares had a relatively better volume day versus average trading capacity of 302.6 thousand shares, but with a 34.49 million float and a -5.89% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TAST stock indicates that the average analyst price target is $15 per share. This means the stock has a potential increase of 74.62% from where the TAST share price has been trading recently which is between $8.19 and $8.51. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.5.
The shorts are climbing into Carrols Restaurant Group, Inc. (TAST) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in TAST shares. While short interest still represents only 5.36% of TAST’s float, the number of shares shorted have risen by 24933. The number of shares shorted advanced to 1871793 shares, up from 1846860 shares during the preceding fortnight. With average daily trading volumes at 154554 shares, days to cover increased to about 10.07353 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of TAST earnings conference call or presentation 8-May-19 12:30pm GMT” and dated May 14, 2019.
During the recent trading session for Carrols Restaurant Group, Inc. (NASDAQ:TAST), the company witnessed their stock drop by $-0.39 over a week and tumble down $-1.24 from the price 20 days ago. When compared to their established 52-week high of $16.4, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/23/18. The recent low of $8.16 stood for a -47.65% since 05/17/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.31 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Carrols Restaurant Group, Inc., the two-week RSI stands at 35.5. This figure suggests that TAST stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TAST readings is similarly very revealing as it has a stochastic reading of 8.31% at this stage. This figure means that TAST share price today is being overbought.
Technical chart claims that Carrols Restaurant Group, Inc. (TAST) would settle between $8.48/share to $8.66/share level. However, if the stock price goes below the $8.16 mark, then the market for Carrols Restaurant Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $8.02 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.44. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Dougherty & Company lifted target price for shares of TAST but were stick to Buy recommendation for the stock in their opinion released on May 09. The price target has been raised from $16 to $14.50. SunTrust, analysts launched coverage of Carrols Restaurant Group, Inc. (NASDAQ:TAST) stock with a Buy recommendation, according to their flash note issued to investors on May 23. Analysts at Raymond James lowered the stock to a Outperform call from its previous Strong Buy recommendation, in a research note that dated back to September 26.
TAST equity has an average rating of 1.6, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Carrols Restaurant Group, Inc. (NASDAQ:TAST) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TAST stock price is currently trading at 16.2X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.41 while for the average stock in the same group, the multiple is 2.44. Carrols Restaurant Group, Inc. current P/E ratio of 19.55 means it is trading at a discount against its industry’s 79.31. In the past 5 years, this ratio for the stock has been fluctuating between 19.32 and 130444.4.
Carrols Restaurant Group, Inc. (TAST)’s current-quarter revenues are projected to climb by nearly 23.17% to hit $373260, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 24.38% from $1.18 billion to a noteworthy $1.47 billion. At the other end of the current quarter income statement, Carrols Restaurant Group, Inc. is expected to see its adjusted earnings surge by roughly -31.82% to hit $0.15 per share. For the fiscal year, TAST’s earnings are projected to climb by roughly -23.33% to hit $0.23 per share.