Cracker Barrel Old Country Store (NASDAQ:CBRL) Posts Quarterly Earnings Results, Beats Estimates By $0.74 EPS

Cracker Barrel Old Country Store (NASDAQ:CBRL) posted its quarterly earnings data on Tuesday. The restaurant operator reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74, FiscalAI reports. Cracker Barrel Old Country Store had a negative net margin of 0.12% and a positive return on equity of 4.25%. The company had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million.

Cracker Barrel Old Country Store Stock Up 6.1%

NASDAQ CBRL traded up $2.09 during trading on Tuesday, reaching $36.30. 2,356,698 shares of the company’s stock were exchanged, compared to its average volume of 1,208,295. 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 firm has a market capitalization of $811.31 million, a PE ratio of -201.66 and a beta of 1.30. The company’s fifty day simple moving average is $30.61 and its 200-day simple moving average is $29.83. Cracker Barrel Old Country Store has a fifty-two week low of $24.85 and a fifty-two week high of $71.93.

Analyst Ratings Changes

CBRL has been the subject of a number of analyst reports. 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 note on Thursday, March 5th. Truist Financial upped their price objective on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Citigroup upped their price objective on shares of Cracker Barrel Old Country Store from $24.00 to $28.00 and gave the company a “sell” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Friday, March 27th. Finally, Wells Fargo & Company upped their price objective on shares of Cracker Barrel Old Country Store from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Cracker Barrel Old Country Store currently has an average rating of “Hold” and an average target price of $36.00.

Institutional Trading of Cracker Barrel Old Country Store

Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its stake in shares of Cracker Barrel Old Country Store by 8.4% in the second quarter. Captrust Financial Advisors now owns 6,690 shares of the restaurant operator’s stock worth $409,000 after acquiring an additional 519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cracker Barrel Old Country Store by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,138 shares of the restaurant operator’s stock worth $510,000 after acquiring an additional 546 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Cracker Barrel Old Country Store in the second quarter worth $37,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cracker Barrel Old Country Store in the third quarter worth $26,000. Finally, Deutsche Bank AG increased its stake in shares of Cracker Barrel Old Country Store by 3.7% in the fourth quarter. Deutsche Bank AG now owns 17,788 shares of the restaurant operator’s stock worth $452,000 after acquiring an additional 630 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

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.