Zacks Investment Research Lowers Cracker Barrel (CBRL) to Sell

Cracker Barrel (NASDAQ:CBRL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “Cracker Barrel shares have underperformed its industry in the past year. Current-quarter and year estimates have also remained stable over the last 30 days. The company reported lower-than-expected revenues in 10 of the trailing 12 quarters. Moreover, comps at both restaurants and retail stores have been under pressure due to the challenging sales environment. Moreover, higher costs are expected to weigh on margins. Nevertheless, the company expects its enhanced focus on convenience, value and menu innovation to aid in fighting persistent challenges. Expansion of units, extensive marketing efforts, seasonal promotions, enhanced focus on retail business along with cost-saving initiatives should further drive growth.”

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Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Cracker Barrel from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. SunTrust Banks reaffirmed a “hold” rating and issued a $163.00 price target on shares of Cracker Barrel in a research report on Wednesday, January 3rd. Maxim Group reaffirmed a “hold” rating on shares of Cracker Barrel in a research report on Tuesday, February 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $175.00 price target (up previously from $170.00) on shares of Cracker Barrel in a research report on Thursday, February 15th. Finally, Wells Fargo reaffirmed a “market perform” rating and issued a $152.00 price target (up previously from $140.00) on shares of Cracker Barrel in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $163.13.

CBRL stock traded down $0.56 during mid-day trading on Monday, reaching $162.60. The company had a trading volume of 96,976 shares, compared to its average volume of 322,284. Cracker Barrel has a 12 month low of $141.75 and a 12 month high of $179.12. The company has a market capitalization of $3,916.43, a P/E ratio of 19.43, a P/E/G ratio of 2.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.02 and a quick ratio of 0.58.

Cracker Barrel (NASDAQ:CBRL) last announced its quarterly earnings results on Tuesday, February 20th. The restaurant operator reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.31. Cracker Barrel had a net margin of 8.10% and a return on equity of 36.86%. The firm had revenue of $787.70 million during the quarter, compared to analysts’ expectations of $787.26 million. During the same quarter in the prior year, the company earned $2.19 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. research analysts expect that Cracker Barrel will post 9.43 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of CBRL. APG Asset Management N.V. lifted its position in Cracker Barrel by 80.8% during the fourth quarter. APG Asset Management N.V. now owns 307,400 shares of the restaurant operator’s stock valued at $40,675,000 after acquiring an additional 137,400 shares during the last quarter. BlackRock Inc. lifted its position in Cracker Barrel by 1.7% during the fourth quarter. BlackRock Inc. now owns 2,327,076 shares of the restaurant operator’s stock valued at $369,748,000 after acquiring an additional 39,966 shares during the last quarter. AXA lifted its position in Cracker Barrel by 49.3% during the third quarter. AXA now owns 105,700 shares of the restaurant operator’s stock valued at $16,026,000 after acquiring an additional 34,900 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Cracker Barrel by 8.3% during the third quarter. Dimensional Fund Advisors LP now owns 415,497 shares of the restaurant operator’s stock valued at $62,997,000 after acquiring an additional 31,884 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Cracker Barrel by 6.2% during the fourth quarter. Bank of New York Mellon Corp now owns 417,814 shares of the restaurant operator’s stock valued at $66,387,000 after acquiring an additional 24,476 shares during the last quarter. 87.41% of the stock is owned by institutional investors.

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Cracker Barrel 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.

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