Seeking Alpha

Overview and Thesis

Carrols Restaurant Group (TAST) is the country's largest Burger King (BKC) franchisee. The company operates roughly 570 BK restaurants throughout the Mid-Atlantic, Northeast and Midwest US following a recent acquisition of a large number of restaurants last year. Since the spinoff of Fiesta (FRGI) shares of Carrols have been volatile but have risen slightly to the $6.25 area at present. Given last year's operating loss and bleak outlook investors are left to wonder if there is downside in the stock or if a turnaround is on the horizon. In addition to operational challenges the company's balance sheet has its share of issues. Despite these and other factors I'll argue here that...

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