Cracker Barrel Old Country Store (NASDAQ:CBRL) Issues Earnings Results

Cracker Barrel Old Country Store (NASDAQ:CBRL) posted its earnings results on Tuesday. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74, FiscalAI reports. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The firm had revenue of $797.37 million during the quarter, compared to analysts’ expectations of $776.69 million.

Cracker Barrel Old Country Store Stock Performance

NASDAQ CBRL traded up $2.09 during midday trading on Tuesday, hitting $36.30. The company had a trading volume of 2,356,698 shares, compared to its average volume of 1,208,295. The firm has a fifty day simple moving average of $30.61 and a two-hundred day simple moving average of $29.83. Cracker Barrel Old Country Store has a fifty-two week low of $24.85 and a fifty-two week high of $71.93. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.90. The stock has a market cap of $811.31 million, a price-to-earnings ratio of -201.66 and a beta of 1.30.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CBRL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cracker Barrel Old Country Store by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock valued at $510,000 after buying an additional 546 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Cracker Barrel Old Country Store by 64.6% during the second quarter. Cetera Investment Advisers now owns 9,210 shares of the restaurant operator’s stock valued at $563,000 after purchasing an additional 3,614 shares during the period. Norges Bank bought a new stake in shares of Cracker Barrel Old Country Store during the second quarter valued at approximately $843,000. New York State Common Retirement Fund increased its position in shares of Cracker Barrel Old Country Store by 23.6% during the second quarter. New York State Common Retirement Fund now owns 8,386 shares of the restaurant operator’s stock valued at $512,000 after purchasing an additional 1,600 shares during the period. Finally, Invesco Ltd. increased its position in shares of Cracker Barrel Old Country Store by 76.0% during the second quarter. Invesco Ltd. now owns 350,859 shares of the restaurant operator’s stock valued at $21,430,000 after purchasing an additional 151,463 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Friday, March 27th. UBS Group upped their price objective on shares of 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. Truist Financial lifted their target price on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Freedom Capital raised shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a research report on Monday, April 6th. Finally, Wells Fargo & Company upped their price target on shares of Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cracker Barrel Old Country Store has an average rating of “Hold” and an average price target of $36.00.

Cracker Barrel Old Country Store Company Profile

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.