Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Cut to $68.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target dropped by investment analysts at Truist Financial from $72.00 to $68.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price target points to a potential upside of 20.61% from the stock’s previous close.

Several other brokerages have also commented on CBRL. Citigroup raised their price objective on shares of Cracker Barrel Old Country Store from $60.00 to $61.00 and gave the stock a “sell” rating in a report on Wednesday, February 28th. UBS Group lowered their target price on shares of Cracker Barrel Old Country Store from $82.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Finally, Piper Sandler lowered their target price on shares of Cracker Barrel Old Country Store from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.57.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL opened at $56.38 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.58 and a quick ratio of 0.21. Cracker Barrel Old Country Store has a one year low of $54.87 and a one year high of $116.05. The company has a 50-day simple moving average of $67.97 and a two-hundred day simple moving average of $71.40. The firm has a market capitalization of $1.25 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 4.25 and a beta of 1.45.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Tuesday, February 27th. The restaurant operator reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. Cracker Barrel Old Country Store had a net margin of 2.43% and a return on equity of 23.13%. The business had revenue of $935.40 million during the quarter, compared to analyst estimates of $917.83 million. During the same period last year, the business posted $1.48 earnings per share. Cracker Barrel Old Country Store’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Cracker Barrel Old Country Store will post 4.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently added to or reduced their stakes in CBRL. Compass Wealth Management LLC purchased a new position in Cracker Barrel Old Country Store in the 4th quarter worth approximately $28,000. GAMMA Investing LLC purchased a new position in Cracker Barrel Old Country Store in the 4th quarter worth approximately $32,000. Itau Unibanco Holding S.A. bought a new stake in Cracker Barrel Old Country Store in the 2nd quarter worth approximately $34,000. Newbridge Financial Services Group Inc. grew its position in Cracker Barrel Old Country Store by 91.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 575 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 275 shares during the period. Finally, State of Wyoming bought a new stake in Cracker Barrel Old Country Store in the 4th quarter worth approximately $54,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

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 restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.