Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $40.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price lifted by equities research analysts at BofA from $34.00 to $40.00 in a report issued on Monday,MarketScreener reports. BofA’s price target would indicate a potential downside of 9.62% from the stock’s current price.

Several other analysts have also issued reports on CBRL. Citigroup boosted their price target on Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the company a “sell” rating in a report on Wednesday. UBS Group raised their price objective on Cracker Barrel Old Country Store from $31.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday. Truist Financial lifted their price objective on Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday. Finally, Wells Fargo & Company raised shares of Cracker Barrel Old Country Store from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $50.00 in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus price target of $41.13.

Cracker Barrel Old Country Store Stock Performance

CBRL traded down $2.43 during trading on Monday, hitting $44.26. The company’s stock had a trading volume of 264,277 shares, compared to its average volume of 1,317,938. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. Cracker Barrel Old Country Store has a one year low of $24.85 and a one year high of $71.93. The firm has a market cap of $989.17 million, a PE ratio of 38.10 and a beta of 1.30. The business’s 50 day simple moving average is $31.84 and its 200-day simple moving average is $30.29.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74. The firm had revenue of $797.37 million during the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. As a group, sell-side analysts predict that Cracker Barrel Old Country Store will post -1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in shares of Cracker Barrel Old Country Store by 22.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 321 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Cracker Barrel Old Country Store by 16.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,808 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 400 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in Cracker Barrel Old Country Store by 4.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 12,000 shares of the restaurant operator’s stock worth $529,000 after purchasing an additional 500 shares in the last quarter. Captrust Financial Advisors boosted its stake in Cracker Barrel Old Country Store by 8.4% in the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock worth $409,000 after purchasing an additional 519 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cracker Barrel Old Country Store by 4.3% during the 1st 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 in the last quarter. Institutional investors own 96.01% of the company’s stock.

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.