Cracker Barrel Old Country Store (CBRL) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has $201.00 price target on the restaurant operator’s stock.

According to Zacks, “Shares of Cracker Barrel have outperformed the industry year to date and should continue to do so after the company reported better-than-expected earnings in the first quarter of fiscal 2019. Earnings and revenues not only surpassed analysts’ expectations but also increased 2.1% and 3.3%, respectively, from the year-ago quarter. The company’s strong marketing efforts and enhanced focus on retail business, along with consistent unit development, have led to the overall top-line improvement. Further, increased focus on menu innovation continues to drive revenues. Also, management’s cost-savings plan through its two prime initiatives — food waste and labor management — is expected to drive profits. Moreover, earnings estimate for 2018 has increased 0.8% over the past 7 days, reflecting analyst’s optimism over the stock.”

Several other research analysts have also weighed in on the stock. Argus lowered shares of Cracker Barrel Old Country Store from a buy rating to a hold rating and set a $181.75 target price on the stock. in a research report on Sunday, December 2nd. Telsey Advisory Group increased their price target on shares of Cracker Barrel Old Country Store from $175.00 to $190.00 and gave the company an outperform rating in a research report on Wednesday, November 28th. Gordon Haskett lowered shares of Cracker Barrel Old Country Store from a hold rating to an underperform rating in a research report on Wednesday, November 28th. Wells Fargo & Co increased their price target on shares of Cracker Barrel Old Country Store from $139.00 to $157.00 and gave the company a market perform rating in a research report on Monday, November 26th. Finally, Maxim Group lowered shares of Cracker Barrel Old Country Store from a buy rating to a hold rating and set a $175.00 price target on the stock. in a research report on Tuesday, November 20th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $167.59.

Shares of CBRL opened at $170.86 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.38 and a debt-to-equity ratio of 0.67. Cracker Barrel Old Country Store has a twelve month low of $141.63 and a twelve month high of $185.00. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.95 and a beta of 0.40.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, November 27th. The restaurant operator reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. Cracker Barrel Old Country Store had a net margin of 8.14% and a return on equity of 35.18%. The company had revenue of $733.50 million for the quarter, compared to analyst estimates of $720.94 million. During the same period in the prior year, the business posted $1.92 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Cracker Barrel Old Country Store will post 8.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 5th. Stockholders of record on Friday, January 18th will be given a $1.25 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $5.00 annualized dividend and a dividend yield of 2.93%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 56.37%.

In other news, VP Nicholas V. Flanagan sold 6,000 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $145.81, for a total value of $874,860.00. Following the sale, the vice president now directly owns 18,784 shares in the company, valued at $2,738,895.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sardar Biglari sold 243,718 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $182.26, for a total transaction of $44,420,042.68. The disclosure for this sale can be found here. Insiders sold 423,899 shares of company stock worth $76,993,830 over the last quarter. Company insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP lifted its stake in shares of Cracker Barrel Old Country Store by 59.8% during the third quarter. Marshall Wace LLP now owns 413,104 shares of the restaurant operator’s stock valued at $60,780,000 after buying an additional 154,535 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Cracker Barrel Old Country Store during the third quarter valued at approximately $397,000. Legal & General Group Plc lifted its stake in shares of Cracker Barrel Old Country Store by 2.2% during the third quarter. Legal & General Group Plc now owns 28,986 shares of the restaurant operator’s stock valued at $4,265,000 after buying an additional 616 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Cracker Barrel Old Country Store by 8,774.4% during the third quarter. Rehmann Capital Advisory Group now owns 44,727 shares of the restaurant operator’s stock valued at $304,000 after buying an additional 44,223 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Cracker Barrel Old Country Store by 1.5% during the third quarter. Teachers Advisors LLC now owns 38,089 shares of the restaurant operator’s stock valued at $5,604,000 after buying an additional 545 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

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 a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Get a free copy of the Zacks research report on Cracker Barrel Old Country Store (CBRL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cracker Barrel Old Country Store (NASDAQ:CBRL)

Receive News & Ratings for Cracker Barrel Old Country Store Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cracker Barrel Old Country Store and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply