Wells Fargo & Co Boosts Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $155.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective boosted by Wells Fargo & Co from $150.00 to $155.00 in a report issued on Wednesday, The Fly reports. Wells Fargo & Co currently has a market perform rating on the restaurant operator’s stock.

Other equities analysts have also issued reports about the stock. SunTrust Banks raised their price target on shares of Cracker Barrel Old Country Store from $161.00 to $165.00 and gave the stock a hold rating in a research report on Wednesday. BidaskClub raised shares of Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Wednesday. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Thursday, May 23rd. Maxim Group set a $195.00 price target on shares of Cracker Barrel Old Country Store and gave the stock a buy rating in a research report on Sunday, September 15th. Finally, ValuEngine lowered shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Cracker Barrel Old Country Store presently has a consensus rating of Hold and an average price target of $172.82.

NASDAQ:CBRL opened at $166.12 on Wednesday. Cracker Barrel Old Country Store has a 52 week low of $144.12 and a 52 week high of $185.00. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.82 and a beta of 0.59. The firm’s 50-day simple moving average is $166.08 and its 200 day simple moving average is $165.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.62.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings results on Tuesday, September 17th. The restaurant operator reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.27. Cracker Barrel Old Country Store had a net margin of 7.27% and a return on equity of 36.01%. The business had revenue of $787.10 million for the quarter, compared to analyst estimates of $781.90 million. During the same period last year, the firm earned $2.19 earnings per share. Cracker Barrel Old Country Store’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Cracker Barrel Old Country Store will post 9.37 EPS for the current year.

Cracker Barrel Old Country Store announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 4th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the restaurant operator to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

In other Cracker Barrel Old Country Store news, major shareholder Sardar Biglari sold 68,630 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $170.13, for a total transaction of $11,676,021.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sandra B. Cochran sold 9,007 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $165.95, for a total transaction of $1,494,711.65. Following the sale, the chief executive officer now owns 153,514 shares in the company, valued at $25,475,648.30. The disclosure for this sale can be found here. Insiders have sold 1,008,608 shares of company stock worth $173,032,478 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CBRL. Marshall Wace LLP grew its stake in Cracker Barrel Old Country Store by 69.1% during the first quarter. Marshall Wace LLP now owns 353,035 shares of the restaurant operator’s stock worth $57,054,000 after buying an additional 144,284 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Cracker Barrel Old Country Store during the first quarter worth about $18,878,000. Nuveen Asset Management LLC acquired a new stake in Cracker Barrel Old Country Store during the second quarter worth about $13,037,000. Man Group plc acquired a new stake in Cracker Barrel Old Country Store during the second quarter worth about $12,724,000. Finally, APG Asset Management N.V. grew its stake in Cracker Barrel Old Country Store by 17.4% during the second quarter. APG Asset Management N.V. now owns 391,900 shares of the restaurant operator’s stock worth $58,754,000 after buying an additional 58,100 shares in the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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

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