Cracker Barrel Old Country Store (NASDAQ:CBRL) Price Target Raised to $48.00

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target hoisted by investment analysts at Truist Financial from $44.00 to $48.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Truist Financial’s price objective would suggest a potential downside of 3.88% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. UBS Group dropped their target price on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. Loop Capital dropped their price objective on shares of Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating for the company in a report on Friday, September 20th. StockNews.com raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Argus downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Bank of America raised their price target on Cracker Barrel Old Country Store from $40.00 to $42.00 and gave the company an “underperform” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.14.

Cracker Barrel Old Country Store Price Performance

NASDAQ:CBRL traded up $1.87 on Friday, reaching $49.94. 64,372 shares of the company’s stock traded hands, compared to its average volume of 730,423. The stock has a 50-day simple moving average of $44.92 and a 200-day simple moving average of $45.04. Cracker Barrel Old Country Store has a 12 month low of $34.88 and a 12 month high of $83.51. The firm has a market cap of $1.11 billion, a PE ratio of 27.14, a P/E/G ratio of 1.29 and a beta of 1.42. The company has a quick ratio of 0.21, a current ratio of 0.61 and a debt-to-equity ratio of 1.08.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Thursday, September 19th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.19). Cracker Barrel Old Country Store had a net margin of 1.18% and a return on equity of 18.65%. The business had revenue of $894.39 million for the quarter, compared to the consensus estimate of $898.94 million. During the same period last year, the business posted $1.79 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Cracker Barrel Old Country Store will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On Cracker Barrel Old Country Store

A number of institutional investors and hedge funds have recently modified their holdings of CBRL. Vanguard Group Inc. raised its holdings in Cracker Barrel Old Country Store by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,616,012 shares of the restaurant operator’s stock valued at $190,263,000 after buying an additional 6,804 shares during the period. Earnest Partners LLC raised its stake in shares of Cracker Barrel Old Country Store by 0.4% in the first quarter. Earnest Partners LLC now owns 2,036,391 shares of the restaurant operator’s stock valued at $148,107,000 after acquiring an additional 7,587 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cracker Barrel Old Country Store by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,075,016 shares of the restaurant operator’s stock worth $48,752,000 after acquiring an additional 111,892 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth about $25,636,000. Finally, Verition Fund Management LLC grew its holdings in Cracker Barrel Old Country Store by 96.0% during the 3rd quarter. Verition Fund Management LLC now owns 160,946 shares of the restaurant operator’s stock valued at $7,299,000 after purchasing an additional 78,816 shares during the last quarter. Hedge funds and other institutional investors own 96.01% of the company’s stock.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.