Cracker Barrel Old Country Store (NASDAQ:CBRL) Given New $45.00 Price Target at Truist Financial

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective dropped by investment analysts at Truist Financial from $50.00 to $45.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Truist Financial’s price objective would suggest a potential upside of 76.93% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 20th. Citigroup decreased their price target on Cracker Barrel Old Country Store from $42.00 to $24.00 and set a “sell” rating for the company in a research report on Friday, November 21st. UBS Group set a $26.00 price target on Cracker Barrel Old Country Store in a report on Wednesday. Argus reduced their price objective on Cracker Barrel Old Country Store from $62.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, September 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Monday. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $37.38.

Cracker Barrel Old Country Store Stock Performance

Shares of CBRL opened at $25.43 on Wednesday. The firm has a market capitalization of $566.42 million, a P/E ratio of 12.29 and a beta of 1.24. Cracker Barrel Old Country Store has a 52 week low of $25.62 and a 52 week high of $71.93. The stock has a 50 day moving average price of $33.59 and a two-hundred day moving average price of $49.42. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.21 and a current ratio of 0.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its earnings results on Wednesday, December 4th. The restaurant operator reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $845.09 million during the quarter. Cracker Barrel Old Country Store had a net margin of 1.33% and a return on equity of 15.48%. Equities analysts forecast that Cracker Barrel Old Country Store will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Gmt Capital Corp sold 42,400 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $28.60, for a total value of $1,212,640.00. Following the sale, the insider directly owned 2,706,600 shares in the company, valued at approximately $77,408,760. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at approximately $26,000. Dark Forest Capital Management LP purchased a new position in Cracker Barrel Old Country Store in the 3rd quarter valued at approximately $2,459,000. Verition Fund Management LLC raised its holdings in Cracker Barrel Old Country Store by 640.9% during the 3rd quarter. Verition Fund Management LLC now owns 154,213 shares of the restaurant operator’s stock valued at $6,795,000 after acquiring an additional 133,399 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Cracker Barrel Old Country Store during the third quarter worth $1,423,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Cracker Barrel Old Country Store in the third quarter worth $1,364,000. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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 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.