BofA Issues Positive Forecast for Cracker Barrel Old Country Store (NASDAQ:CBRL) Stock Price

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price objective hoisted by analysts at BofA from $34.00 to $40.00 in a research report issued to clients and investors on Monday,MarketScreener reports. BofA’s price objective would suggest a potential downside of 9.62% from the company’s previous close.

Several other research analysts have also issued reports on CBRL. Benchmark reiterated a “hold” rating on shares of Cracker Barrel Old Country Store in a research note on Wednesday. Truist Financial boosted their price objective on shares of Cracker Barrel Old Country Store from $45.00 to $47.00 and gave the stock 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 $28.00 to $34.00 and gave the stock a “sell” rating in a report on Wednesday. Wells Fargo & Company raised shares of Cracker Barrel Old Country Store from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $35.00 to $50.00 in a research note on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cracker Barrel Old Country Store in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has an average rating of “Hold” and an average target price of $41.13.

Cracker Barrel Old Country Store Stock Down 5.2%

Shares of CBRL traded down $2.43 on Monday, reaching $44.26. The stock had a trading volume of 264,277 shares, compared to its average volume of 1,317,938. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.50. Cracker Barrel Old Country Store has a 12-month low of $24.85 and a 12-month high of $71.93. The firm has a market capitalization of $989.17 million, a price-to-earnings ratio of 38.10 and a beta of 1.30. The company has a 50-day simple moving average of $31.84 and a 200-day simple moving average of $30.29.

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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.74. The business had revenue of $797.37 million during the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a return on equity of 2.78% and a net margin of 0.79%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. Sell-side analysts predict that Cracker Barrel Old Country Store will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Several hedge funds and other institutional investors have recently modified their holdings of CBRL. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cracker Barrel Old Country Store in the third quarter worth $26,000. Axiom Investment Management LLC bought a new position in Cracker Barrel Old Country Store in the first quarter valued at about $28,000. Hilton Head Capital Partners LLC purchased a new position in Cracker Barrel Old Country Store in the fourth quarter worth about $35,000. Canada Pension Plan Investment Board purchased a new position in Cracker Barrel Old Country Store in the second quarter worth about $37,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Cracker Barrel Old Country Store by 22.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the restaurant operator’s stock valued at $50,000 after purchasing an additional 321 shares during the period. 96.01% of the stock is owned by institutional investors.

Cracker Barrel Old Country Store Company Profile

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.