Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $60.00 at Argus

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its target price boosted by Argus from $40.00 to $60.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a report on Sunday, April 19th. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday. Freedom Capital upgraded shares of Cracker Barrel Old Country Store to a “strong-buy” rating in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a research note on Friday, March 27th. Finally, Citigroup upped their target price on shares of Cracker Barrel Old Country Store from $28.00 to $34.00 and gave the stock a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.29.

Cracker Barrel Old Country Store Stock Up 4.3%

Shares of CBRL traded up $1.94 during mid-day trading on Thursday, reaching $47.44. The company had a trading volume of 593,088 shares, compared to its average volume of 1,313,209. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.18 and a current ratio of 0.50. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 41.01 and a beta of 1.30. The firm has a 50-day moving average price of $31.48 and a 200 day moving average price of $30.15. Cracker Barrel Old Country Store has a 52 week low of $24.85 and a 52 week high of $71.93.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings data on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The company had revenue of $797.37 million during the quarter, compared to analyst estimates of $776.69 million. During the same quarter last year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Cracker Barrel Old Country Store will post -1.26 EPS for the current year.

Cracker Barrel Old Country Store Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Friday, July 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.1%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 86.21%.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new position in Cracker Barrel Old Country Store during the 2nd quarter valued at about $37,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cracker Barrel Old Country Store in the 3rd quarter worth approximately $26,000. Axiom Investment Management LLC bought a new position in shares of Cracker Barrel Old Country Store in the 1st quarter worth approximately $28,000. Hilton Head Capital Partners LLC bought a new position in shares of Cracker Barrel Old Country Store in the 4th quarter worth approximately $35,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cracker Barrel Old Country Store by 22.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 321 shares during the period. 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.