Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price Expected to Rise, Bank of America Analyst Says

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target raised by research analysts at Bank of America from $42.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underperform” rating on the restaurant operator’s stock. Bank of America‘s target price points to a potential downside of 7.81% from the company’s current price.

CBRL has been the subject of a number of other reports. StockNews.com upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Argus lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. UBS Group cut their target price on 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. Truist Financial increased their price target on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. Finally, Loop Capital cut their price objective on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.57.

Cracker Barrel Old Country Store Stock Performance

Shares of NASDAQ CBRL opened at $48.81 on Friday. Cracker Barrel Old Country Store has a 1 year low of $34.88 and a 1 year high of $83.51. The firm has a market cap of $1.08 billion, a P/E ratio of 26.53, a PEG ratio of 1.29 and a beta of 1.42. The stock has a fifty day moving average price of $45.15 and a two-hundred day moving average price of $44.88. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.21 and a current ratio of 0.61.

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

Institutional Investors Weigh In On Cracker Barrel Old Country Store

A number of institutional investors have recently modified their holdings of CBRL. Marshall Wace LLP purchased a new stake in shares of Cracker Barrel Old Country Store during the second quarter worth $25,636,000. Charles Schwab Investment Management Inc. raised its stake in shares of Cracker Barrel Old Country Store by 11.6% during the 3rd 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 in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter worth about $4,498,000. Verition Fund Management LLC grew its stake in shares of Cracker Barrel Old Country Store by 96.0% in the 3rd 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, Point72 Asset Management L.P. bought a new stake in shares of Cracker Barrel Old Country Store in the 3rd quarter valued at approximately $2,526,000. Institutional investors and hedge funds own 96.01% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

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.