Cracker Barrel Old Country Store Target of Unusually Large Options Trading (NASDAQ:CBRL)

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) was the target of some unusual options trading on Thursday. Stock traders purchased 8,484 call options on the company. This is an increase of 216% compared to the typical volume of 2,685 call options.

Analyst Ratings Changes

CBRL has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and set a $51.00 price objective on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 22nd. Argus boosted their target price on shares of Cracker Barrel Old Country Store from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Zacks Research upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. UBS Group reissued a “neutral” rating on shares of Cracker Barrel Old Country Store in a research note on Tuesday, July 28th. Finally, Bank of America raised their price target on shares of Cracker Barrel Old Country Store from $34.00 to $40.00 in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.14.

Cracker Barrel Old Country Store Trading Down 2.5%

CBRL stock traded down $1.39 during midday trading on Thursday, reaching $53.41. The stock had a trading volume of 39,993 shares, compared to its average volume of 1,190,301. The business has a fifty day simple moving average of $54.72 and a two-hundred day simple moving average of $40.17. The company has a quick ratio of 0.19, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 45.92 and a beta of 1.19. Cracker Barrel Old Country Store has a twelve month low of $24.85 and a twelve month high of $60.26.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, June 9th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.74. The company had revenue of $797.37 million for the quarter, compared to the consensus estimate of $776.69 million. Cracker Barrel Old Country Store had a net margin of 0.79% and a return on equity of 2.78%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. As a group, research analysts expect that Cracker Barrel Old Country Store will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in Cracker Barrel Old Country Store in the third quarter valued at approximately $26,000. Axiom Investment Management LLC bought a new stake in shares of Cracker Barrel Old Country Store during the 1st quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Cracker Barrel Old Country Store in the 4th quarter valued at $35,000. Canada Pension Plan Investment Board acquired a new position in shares of Cracker Barrel Old Country Store in the 2nd quarter valued at $37,000. Finally, PNC Financial Services Group Inc. boosted its position 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 last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

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.