Analysts at Zacks Investment Research downgraded shares of Carrols Restaurant Group Inc. (NASDAQ: TAST) from Buy to Hold in a research note to investors today.Zacks Investment Research currently has a rating of Hold on the shares. The one-year price target of $16.50 is above the opening price of $12.87, resulting a fair amount of other analysts to issue statements on the company recently. Looking back over the last year, Carrols Restaurant Group Inc. stock has a high of $14.80. Downgrades happen when analysts believe that the future prospects for the security have dropped from the initial recommendation, usually because of an important and fundamental change in the company’s procedures, future outlook or industry.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday Carrols Restaurant Group Inc. (NASDAQ: TAST) shares last traded at $12.91, which represents a spike of $0.04 compared to the previous closing price. Opening at $12.87, they ranged from $12.81 and $12.94 throughout the day.
Carrols Restaurant Group Inc. (NASDAQ: TAST) currently has a market cap of 453.44M.
9,325 shares crossed the trading desk yesterday, 100 percent below the average, out of a total float 33,255,000. Investors often use increases in trading volume to determine large volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, a single day of heavy buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Carrols Restaurant Group Inc. (NASDAQ: TAST) have ranged from $10.57 – 14.80, and the stock now has a 50-day MA of $13.16 and 200-day MA of $13.11. Today’s last price is 0.13% lower than the 52 week high of $14.80.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over 3 consecutive years.
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