Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $34.00 at Bank of America

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective boosted by research analysts at Bank of America from $31.00 to $34.00 in a report issued on Friday,MarketScreener reports. Bank of America‘s target price would suggest a potential upside of 3.45% from the stock’s current price.

A number of other equities research analysts also recently weighed in on CBRL. Benchmark reaffirmed a “hold” rating on shares of Cracker Barrel Old Country Store in a research report on Thursday, March 5th. Wall Street Zen downgraded Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a research note on Sunday, April 19th. Wells Fargo & Company increased their price target on Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. UBS Group raised their price target on Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Citigroup boosted their price objective on Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Cracker Barrel Old Country Store presently has an average rating of “Hold” and a consensus price target of $38.38.

Cracker Barrel Old Country Store Stock Performance

Cracker Barrel Old Country Store stock traded down $0.13 during mid-day trading on Friday, reaching $32.87. The company’s stock had a trading volume of 67,136 shares, compared to its average volume of 1,199,470. The firm has a market cap of $734.58 million, a price-to-earnings ratio of -182.93 and a beta of 1.30. The business has a 50 day moving average price of $30.37 and a 200-day moving average price of $29.73. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90. Cracker Barrel Old Country Store has a twelve month low of $24.85 and a twelve month high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Wednesday, March 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.35. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The company had revenue of $874.82 million for the quarter, compared to analysts’ expectations of $862.89 million. During the same period in the prior year, the company earned $1.38 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. Sell-side analysts predict that Cracker Barrel Old Country Store will post -1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several large investors have recently made changes to their positions in CBRL. Alliancebernstein L.P. raised its holdings in shares of Cracker Barrel Old Country Store by 1,068.2% during the second quarter. Alliancebernstein L.P. now owns 1,222,242 shares of the restaurant operator’s stock valued at $74,655,000 after buying an additional 1,117,617 shares during the last quarter. Franklin Resources Inc. grew its holdings in Cracker Barrel Old Country Store by 13,737.1% in the 3rd quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after buying an additional 923,409 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Cracker Barrel Old Country Store in the 2nd quarter worth approximately $43,930,000. Marshall Wace LLP acquired a new stake in Cracker Barrel Old Country Store in the 4th quarter valued at approximately $5,225,000. Finally, Allianz Asset Management GmbH increased its position in Cracker Barrel Old Country Store by 66.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 456,278 shares of the restaurant operator’s stock valued at $20,104,000 after acquiring an additional 182,533 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc operates a distinctive combination of country-themed restaurants and retail stores across the United States. Since its founding in 1969, the company has focused on providing a nostalgic dining experience reminiscent of Southern hospitality, serving breakfast, lunch and dinner with an emphasis on traditional comfort foods.

The restaurant segment offers an extensive menu featuring signature items such as buttermilk pancakes, country ham, biscuits and gravy, meatloaf and pot roast.