BidaskClub Downgrades Cracker Barrel Old Country Store (CBRL) to Sell

Cracker Barrel Old Country Store (NASDAQ:CBRL) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other brokerages have also recently issued reports on CBRL. SunTrust Banks reiterated a “hold” rating and issued a $163.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, January 3rd. Maxim Group reiterated a “hold” rating and issued a $160.00 price objective (up from $155.00) on shares of Cracker Barrel Old Country Store in a report on Wednesday, October 11th. Zacks Investment Research cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Longbow Research cut shares of Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $161.38.

Shares of Cracker Barrel Old Country Store (CBRL) opened at $173.85 on Friday. The stock has a market cap of $4,171.53, a price-to-earnings ratio of 20.97, a P/E/G ratio of 2.06 and a beta of 0.46. Cracker Barrel Old Country Store has a fifty-two week low of $141.75 and a fifty-two week high of $176.01. The company has a quick ratio of 0.42, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Tuesday, November 21st. The restaurant operator reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.06. The firm had revenue of $710.40 million during the quarter, compared to analysts’ expectations of $718.85 million. Cracker Barrel Old Country Store had a net margin of 6.83% and a return on equity of 35.14%. Cracker Barrel Old Country Store’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.01 earnings per share. analysts anticipate that Cracker Barrel Old Country Store will post 9.48 EPS for the current fiscal year.

Cracker Barrel Old Country Store declared that its board has authorized a share buyback program on Friday, September 29th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the restaurant operator to buy up to 0.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in CBRL. Acrospire Investment Management LLC acquired a new position in Cracker Barrel Old Country Store during the 2nd quarter worth $100,000. Ffcm LLC lifted its position in Cracker Barrel Old Country Store by 1,317.9% during the 3rd quarter. Ffcm LLC now owns 794 shares of the restaurant operator’s stock worth $122,000 after acquiring an additional 738 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cracker Barrel Old Country Store by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 738 shares of the restaurant operator’s stock worth $123,000 after acquiring an additional 61 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new position in Cracker Barrel Old Country Store during the 2nd quarter worth $127,000. Finally, Edge Advisors LLC lifted its position in Cracker Barrel Old Country Store by 2,725.7% during the 3rd quarter. Edge Advisors LLC now owns 989 shares of the restaurant operator’s stock worth $149,000 after acquiring an additional 954 shares during the last quarter. 88.87% of the stock is owned by hedge funds and other institutional investors.

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Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

Analyst Recommendations for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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