Bank of America Forecasts Strong Price Appreciation for Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target raised by analysts at Bank of America from $31.00 to $34.00 in a note issued to investors on Friday,MarketScreener reports. Bank of America‘s price objective indicates a potential upside of 3.45% from the company’s current price.

CBRL has been the topic of several other research reports. Truist Financial lifted their target price on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Wells Fargo & Company upped their target price on Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the stock an “equal weight” 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 Thursday, March 5th. Wall Street Zen lowered shares of Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a report on Sunday, April 19th. Finally, UBS Group upped their price objective on shares of Cracker Barrel Old Country Store from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.38.

Cracker Barrel Old Country Store Trading Down 0.4%

Shares of Cracker Barrel Old Country Store stock traded down $0.13 during mid-day trading on Friday, hitting $32.87. 67,136 shares of the stock were exchanged, compared to its average volume of 1,199,470. The stock has a market capitalization of $734.58 million, a price-to-earnings ratio of -182.93 and a beta of 1.30. Cracker Barrel Old Country Store has a twelve month low of $24.85 and a twelve month high of $71.93. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.90. The company has a 50-day simple moving average of $30.37 and a 200 day simple moving average of $29.73.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its quarterly earnings data on Wednesday, March 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.35. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The business had revenue of $874.82 million for the quarter, compared to the consensus estimate of $862.89 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. Research analysts forecast that Cracker Barrel Old Country Store will post -1.12 EPS for the current year.

Institutional Trading of Cracker Barrel Old Country Store

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its stake in Cracker Barrel Old Country Store by 19.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,459,983 shares of the restaurant operator’s stock valued at $64,327,000 after acquiring an additional 237,741 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Cracker Barrel Old Country Store by 13,737.1% during the third quarter. Franklin Resources Inc. now owns 930,131 shares of the restaurant operator’s stock worth $40,982,000 after purchasing an additional 923,409 shares during the last quarter. State Street Corp grew its stake in Cracker Barrel Old Country Store by 1.1% in the fourth quarter. State Street Corp now owns 872,995 shares of the restaurant operator’s stock worth $22,174,000 after purchasing an additional 9,332 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cracker Barrel Old Country Store by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 743,413 shares of the restaurant operator’s stock worth $32,756,000 after purchasing an additional 15,661 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Cracker Barrel Old Country Store in the second quarter valued at about $43,930,000. Institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

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.