Cracker Barrel Old Country Store (NASDAQ:CBRL) Given New $45.00 Price Target at Bank of America

Cracker Barrel Old Country Store (NASDAQ:CBRL) had its price target raised by stock analysts at Bank of America from $42.00 to $45.00 in a report released on Friday,Benzinga reports. The firm currently has an “underperform” rating on the restaurant operator’s stock. Bank of America‘s target price points to a potential downside of 8.39% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Argus downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. UBS Group cut their target price on shares of Cracker Barrel Old Country Store from $55.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, September 19th. StockNews.com upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Loop Capital cut their price objective on Cracker Barrel Old Country Store from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Finally, Truist Financial increased their target price on Cracker Barrel Old Country Store from $44.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $54.57.

Cracker Barrel Old Country Store Price Performance

Shares of Cracker Barrel Old Country Store stock traded up $1.05 on Friday, reaching $49.12. 399,614 shares of the stock were exchanged, compared to its average volume of 731,933. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.21 and a current ratio of 0.61. The firm has a market cap of $1.09 billion, a PE ratio of 27.02, a P/E/G ratio of 1.29 and a beta of 1.42. The firm’s 50 day moving average is $44.92 and its 200-day moving average is $45.04. Cracker Barrel Old Country Store has a one year low of $34.88 and a one year high of $83.51.

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 for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $898.94 million. During the same period in the prior year, the business posted $1.79 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Cracker Barrel Old Country Store will post 2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hazlett Burt & Watson Inc. lifted its stake in Cracker Barrel Old Country Store by 200.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 600 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 400 shares during the period. CWM LLC increased its stake in shares of Cracker Barrel Old Country Store by 96.3% in the 2nd quarter. CWM LLC now owns 854 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 419 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Cracker Barrel Old Country Store during the 3rd quarter valued at $45,000. GAMMA Investing LLC boosted its stake in Cracker Barrel Old Country Store by 447.2% during the second quarter. GAMMA Investing LLC now owns 1,286 shares of the restaurant operator’s stock worth $54,000 after acquiring an additional 1,051 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cracker Barrel Old Country Store in the third quarter worth $79,000. 96.01% of the stock is owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store Company Profile

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.