Cracker Barrel Old Country Store (NASDAQ:CBRL) Shares Down 5.3% – Should You Sell?

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) dropped 5.3% on Tuesday . The company traded as low as $48.14 and last traded at $47.84. 43,902 shares were traded during trading, a decline of 96% from the average session volume of 1,174,656 shares. The stock had previously closed at $50.53.

Wall Street Analysts Forecast Growth

CBRL has been the topic of several research analyst reports. Wall Street Zen raised Cracker Barrel Old Country Store from a “strong sell” rating to a “hold” rating in a research note on Saturday, June 13th. Benchmark reissued a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday, June 10th. Argus upped their price target on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Weiss Ratings upgraded Cracker Barrel Old Country Store from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Finally, Citigroup boosted their target price on Cracker Barrel Old Country Store from $34.00 to $42.00 and gave the company a “sell” rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of “Hold” and an average target price of $48.14.

Cracker Barrel Old Country Store Stock Performance

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 39.43 and a beta of 1.19. The firm’s 50 day moving average is $54.64 and its 200-day moving average is $41.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Axiom Investment Management LLC bought a new stake in Cracker Barrel Old Country Store during the first quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Cracker Barrel Old Country Store by 107.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,246 shares of the restaurant operator’s stock worth $32,000 after buying an additional 645 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of Cracker Barrel Old Country Store during the 4th quarter worth $35,000. PNC Financial Services Group Inc. grew its stake in Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 321 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Cracker Barrel Old Country Store in the 2nd quarter worth $91,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc operates a chain of full-service restaurants and retail stores under the Cracker Barrel brand. Its restaurants offer Southern-inspired, homestyle meals, including breakfast served throughout the day, lunch, dinner and seasonal menu items.

The company’s adjoining country stores sell a variety of merchandise, including home décor, apparel, gifts, toys, games, candy, music and food products. Cracker Barrel’s locations are designed around a nostalgic country-store and roadside dining experience, with many restaurants featuring front porches and rocking chairs.

Founded in 1969 by Dan Evins, the company opened its first location in Lebanon, Tennessee.