Bank of America Forecasts Strong Price Appreciation for Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target upped by analysts at Bank of America from $42.00 to $45.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “underperform” rating on the restaurant operator’s stock. Bank of America‘s target price would indicate a potential downside of 8.39% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. UBS Group dropped their price target on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, September 19th. Argus downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Truist Financial upped their target price on shares of Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a report on Friday. Finally, Loop Capital reduced their price target on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.57.

Cracker Barrel Old Country Store Stock Up 2.2 %

Shares of CBRL stock traded up $1.05 during trading on Friday, reaching $49.12. The company’s stock had a trading volume of 399,614 shares, compared to its average volume of 731,933. Cracker Barrel Old Country Store has a one year low of $34.88 and a one year high of $83.51. The business has a fifty day moving average price of $44.92 and a 200-day moving average price of $45.04. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The company has a quick ratio of 0.21, a current ratio of 0.61 and a debt-to-equity ratio of 1.08.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $0.98 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.19). The business had revenue of $894.39 million for the quarter, compared to the consensus estimate of $898.94 million. Cracker Barrel Old Country Store had a return on equity of 18.65% and a net margin of 1.18%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.79 earnings per share. Analysts anticipate that Cracker Barrel Old Country Store will post 2.94 earnings per share for the current year.

Institutional Trading of Cracker Barrel Old Country Store

Several hedge funds have recently added to or reduced their stakes in CBRL. Marshall Wace LLP bought a new position in Cracker Barrel Old Country Store during the second quarter worth about $25,636,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Cracker Barrel Old Country Store by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after purchasing an additional 111,892 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of Cracker Barrel Old Country Store in the third quarter valued at approximately $4,498,000. Verition Fund Management LLC raised its position in shares of Cracker Barrel Old Country Store by 96.0% in the third quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock valued at $7,299,000 after buying an additional 78,816 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Cracker Barrel Old Country Store by 47.2% in the first quarter. Advisors Asset Management Inc. now owns 89,220 shares of the restaurant operator’s stock valued at $6,489,000 after buying an additional 28,627 shares during the period. 96.01% of the stock is owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

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.