Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $40.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target raised by analysts at Bank of America from $34.00 to $40.00 in a research note issued to investors on Monday,MarketScreener reports. Bank of America‘s price target suggests a potential downside of 9.85% from the stock’s previous close.

A number of other analysts have also weighed in on the company. UBS Group upped their target price on Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. Truist Financial boosted their price target on Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Citigroup raised their price objective on Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the company a “sell” rating in a research report on Wednesday, June 10th. Argus lifted their target price on Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.88.

Cracker Barrel Old Country Store Stock Up 2.0%

Cracker Barrel Old Country Store stock traded up $0.88 during midday trading on Monday, hitting $44.37. 139,821 shares of the company’s stock were exchanged, compared to its average volume of 1,320,698. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50. The company has a market cap of $991.69 million, a PE ratio of 38.37 and a beta of 1.30. The firm has a 50-day moving average of $32.14 and a two-hundred day moving average of $30.40. Cracker Barrel Old Country Store has a 12 month low of $24.85 and a 12 month high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.45) by $0.74. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The business had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Cracker Barrel Old Country Store will post -1.26 earnings per share for the current fiscal year.

Institutional Trading of Cracker Barrel Old Country Store

A number of institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. raised its stake in Cracker Barrel Old Country Store by 1,068.2% in the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock valued at $74,655,000 after buying an additional 1,117,617 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Cracker Barrel Old Country Store by 13,737.1% during the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock valued at $40,982,000 after acquiring an additional 923,409 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Cracker Barrel Old Country Store in the second quarter worth $43,930,000. Marshall Wace LLP acquired a new stake in Cracker Barrel Old Country Store during the 4th quarter worth about $5,225,000. Finally, Bridgeway Capital Management LLC purchased a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at approximately $3,962,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.