Truist Securities Cuts Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target to $136.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective trimmed by Truist Securities from $148.00 to $136.00 in a report published on Wednesday morning, Stock Target Advisor reports. Truist Securities also issued estimates for Cracker Barrel Old Country Store’s Q2 2022 earnings at $1.39 EPS, Q3 2022 earnings at $0.90 EPS, Q4 2022 earnings at $2.44 EPS, FY2022 earnings at $6.25 EPS and FY2023 earnings at $8.21 EPS.

A number of other brokerages have also issued reports on CBRL. Wells Fargo & Company increased their target price on shares of Cracker Barrel Old Country Store from $137.00 to $139.00 and gave the company an underweight rating in a research report on Wednesday, September 22nd. TheStreet lowered shares of Cracker Barrel Old Country Store from a b rating to a c+ rating in a research report on Friday, December 31st. Deutsche Bank Aktiengesellschaft restated a buy rating and set a $140.00 price objective on shares of Cracker Barrel Old Country Store in a research report on Friday, December 17th. Zacks Investment Research lowered shares of Cracker Barrel Old Country Store from a hold rating to a strong sell rating and set a $123.00 price objective for the company. in a research report on Friday, September 24th. Finally, Loop Capital began coverage on shares of Cracker Barrel Old Country Store in a research report on Wednesday, October 13th. They set a hold rating and a $140.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $147.20.

Shares of CBRL opened at $129.15 on Wednesday. The firm has a 50-day moving average price of $131.52 and a 200 day moving average price of $136.66. The firm has a market capitalization of $3.04 billion, a PE ratio of 26.14, a P/E/G ratio of 1.24 and a beta of 1.42. The company has a quick ratio of 0.44, a current ratio of 0.79 and a debt-to-equity ratio of 0.60. Cracker Barrel Old Country Store has a 52-week low of $117.10 and a 52-week high of $178.82.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Tuesday, November 23rd. The restaurant operator reported $1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.03). The company had revenue of $784.90 million during the quarter, compared to the consensus estimate of $768.67 million. Cracker Barrel Old Country Store had a net margin of 3.96% and a return on equity of 22.21%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities analysts expect that Cracker Barrel Old Country Store will post 7.3 EPS for the current year.

Cracker Barrel Old Country Store announced that its board has approved a share repurchase plan on Tuesday, September 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the restaurant operator to purchase up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, January 14th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, January 13th. Cracker Barrel Old Country Store’s dividend payout ratio is presently 105.26%.

Several hedge funds and other institutional investors have recently bought and sold shares of CBRL. Amundi Pioneer Asset Management Inc. lifted its position in shares of Cracker Barrel Old Country Store by 3.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 69,051 shares of the restaurant operator’s stock worth $11,159,000 after purchasing an additional 2,106 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Cracker Barrel Old Country Store by 5.7% in the second quarter. Envestnet Asset Management Inc. now owns 15,590 shares of the restaurant operator’s stock worth $2,315,000 after purchasing an additional 841 shares in the last quarter. Sei Investments Co. lifted its position in shares of Cracker Barrel Old Country Store by 14.9% in the second quarter. Sei Investments Co. now owns 8,123 shares of the restaurant operator’s stock worth $1,235,000 after purchasing an additional 1,056 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Cracker Barrel Old Country Store by 1.5% in the second quarter. HighTower Advisors LLC now owns 6,032 shares of the restaurant operator’s stock worth $893,000 after purchasing an additional 88 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Cracker Barrel Old Country Store by 117.8% in the second quarter. Rockefeller Capital Management L.P. now owns 196 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 106 shares in the last quarter. 83.59% of the stock is owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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

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